Loss Mitigation Fulfillment Specialist

VIRGINIA HOUSING   Richmond, VA   Full-time     Manufacturing / Production / Operations
Posted on May 23, 2023
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We're looking for amazing people! Come join Virginia Housing as a Loss Mitigation Fulfillment Specialist.

This important role will support our Loss Mitigation team in its on-going efforts to assist Virginia Housing customers retain home ownership and avoid foreclosure. The Loss Mitigation Fulfillment Specialist will verify that applicable title issues are resolved prior to issuing documents, that documents are accurate and compliant before being issued to borrowers for execution, ensure documents are delivered timely for execution and file investor/insurer claims accurately and timely.

Responsibilities will include:
  • Analysis of legal documents, reviewing for accuracy prior to the Loan Modification documents being sent for execution and communication with borrowers and attorneys on loan status to assure timely return of executed legal docs .
  • Working with borrowers and/or vendor to resolve title issues timely.
  • Processing and monitoring Investor related claims/incentives.
  • Paying of outstanding invoices and uploading executed/recorded Loan Modification documents into the investor servicing platform, ensuring notarization of internal documents.
  • Applying Escrow money to account from payment clearing accounts and providing accurate figures to update P & I, Escrow and payment figures for the modification process .
  • Maintaining and updating system template processes for accurate reporting.
  • Reviewing pipeline report on a weekly basis and taking appropriate action on loans to ensure timely completion.
  • Preparing and routing appropriate information to accounting for modification process.
  • Perform daily reconciliations of borrower's payments, approved terms and investor claim/incentive deposits.
  • Waiving fees on accounts, where applicable, and issuing approval/completion letters to customers.
  • Providing inbound phone support, responding promptly to borrower and stakeholder concerns and documenting communication on loan files.
  • Reviewing DIL and Short Sale packages for accuracy and preparing 1099's upon completion. Working with Settlement agencies to review and approved Final HUD-1 and monitor receipts of Short Sale proceeds.

Qualified candidates must possess:
  • Bachelor's Degree or equivalent work experience.
  • Several years' knowledge of FHA, FNMA, FHLMC, VA, USDA post-closing process and servicing guidelines
  • Extensive working knowledge of Black Knight/MSP Servicing Platform, USDA LINC, SMDU, FHA Connection, Valeri, Catalyst and FHLMC Workout Prospector. FHLMC Resolve experience is a plus
  • Strong knowledge of VA, USDA, and Ginnie Mae Loss Mitigation document requirements and deliverables.
  • Proficient working knowledge of Microsoft Applications (Word, Excel, PowerPoint, Outlook, etc.)
  • Demonstrated ability to have positive interactions with customers, peers and management and to work across departmental lines.
  • Strong organizational, analytical and attention to detail skills with the ability to adapt to changes.
  • Comfortable with reconciling balances from multiple sources.
  • Must possess the ability to meet deadlines and meet productivity standards.
  • Notary or ability to obtain preferred.

Virginia Housing is one of the nation's premier housing finance organizations. Our mission is to help Virginians attain quality, affordable housing, which we accomplish through our public-private partnerships.

We are focused on employee engagement and committed to a healthy and diverse workforce. We offer on-site conveniences such as a cafeteria, fitness center, and free parking. Educational opportunities to help your advancement are available through classroom and online programs.

This position will close at midnight on June 6, 2023.

Hiring Range: $56,741 - $73,763

Hybrid work model (3 days in office, 2 days remote)

Background checks will be performed as a condition of employment.