Start something good. Empower your career. Become an employee owner at Cenlar.
Employee owners have made Cenlar the nation’s leading mortgage loan subservicer. Our unique culture is defined by our core values of respect, trust, integrity and care. Company ownership, a promote-from-within philosophy, and opportunities for continuous professional growth make Cenlar a great place to launch or boost your career. Consider this opportunity to join our team as a Default Compliance Specialist I.
The Default Compliance Specialists ensure compliance with all federal, state, investor, insurer, and client policies, procedures and guidelines prior to the referral of foreclosure. These positions conduct a thorough review of each delinquent loan to confirm all state and servicing pre-requisites were comported with in order to avoid significant monetary loss and audit findings.
- Conducts compliance review on all loans 90+ days delinquent for foreclosure referral for federal, state, and applicable investor requirements
- Ensures and verifies all breach/demand letters and all other applicable delinquent letters are generated and mailed timely and accurately according to state, Investor, Client, and Cenlar procedures and guidelines
- Reviews and assesses origination documents to confirm chain of assignments/allonges and titles
- Identifies possible payment or servicing disputes that could adversely affect the acceleration process and look to provide a resolution before referral
- Manages and ensures loans with a principal balance of $10,000.00 or under are not placed in foreclosure without attempting to charge off
- Reviews client reporting to confirm all stipulations were satisfied if applicable
- Meets referral deadlines and accurately places the correct codes in the system to reflect the progression of the review and approval process
- Reviews and validates chain of title from origination documents
- Measures and ensures vendor(s) are comporting with contractual obligations
- Identifies referral trends and look for process improvement to expedite the referrals
- Performs specific equity analysis calculations which may vary on 1st lien, HELOC and Junior liens for equity and charge off or foreclosure placement
- Collects documentation from homeowner’s/condo association- account statements, estoppels letters, demands notices, W9 etc.
- Maintains communication with homeowner’s/condo association and their counsel to address notices received
- Reviews demand statements to determine if action is needed per state statute and/or investor guidelines
- Reviews and determines that payment to be issued is within state statute and/or investor guidelines
- Maintains records, contact information and payment status of all homeowner’s/condo associations
- Interacts with multiple areas of Operations along with Foreclosure Counsel
- Works with Default Accounting to insure payment is issue
- Bachelor’s degree preferred
- 2 - 3 years default experience in a mortgage banking environment preferred
- Origination or title experience desired
- Legal, Compliance, paralegal or transferable skills preferred
- Excellent communication/organization skills (verbal and written)
- Excellent analytical, math and problem resolution skills
- Strong ability to successfully manage multiple priorities
- Ability to ascertain equity by performing different equity analysis calculations
- Strong MS Word and Excel skills
- Knowledge of Freddie Mac, Fannie Mae, HUD, and VA default requirements
As an employee-owner at Cenlar, you’ll receive an outstanding benefits package that includes paid medical, dental, and life insurance, 401(k), and tuition assistance as well as opportunities for training and professional advancement.
Cenlar is a drug-free workplace and an equal employment opportunity/affirmative action employer M/F/D/V/SO.