Job Description:
The Supervisor, Foreclosure is responsible for overseeing the day to day functions of the Foreclosure Specialist, who monitor loans throughout the foreclosure, in order to prevent avoidable losses and exposure to Cenlar. This role ensures compliance with all Investor, Insurer, Cenlar, and Client guidelines and requirements. The Supervisor ensures Cenlar goals are met regarding foreclosure timeframe compliance, 1st legal timeframes and compliance, late foreclosure tracking steps, and client/investor delay reporting.
Responsibilities:
- Reviews daily/weekly/monthly reporting on foreclosure cases to ensure timely completion of tasks. Directs staff to ensure either completion or proper rescheduling; ensures total late steps are completed timely
- Reviews processing and ensures foreclosure timeframes and 1st legal timeframes are met, prepares and distributes 1st legal and timeframe report monthly
- Reviews processing and ensures escalated issues and foreclosure delays are reported to clients, investors, and insurers within 24 hours
- Prepares and distributes monthly management and executive reports
- Prepares reports and participates in monthly self-assessment
- Monitors and controls foreclosure processing to ensure compliance with investor, insurer, Cenlar and client time frames
- Reviews processing and ensures all attorney requests for information/documents are completed within the required timeframe required by the client/investors Ensures all corporate advances on reinstated and paid off loans are cleared when funds are received
- Reviews processing to ensure bids are prepared in advance of sale dates and sent to the attorney to guaranty sales held as scheduled
- Reviews processing and ensures all loans with sales held are referred to the post sale department within 24 hours of the foreclosure sale
- Responsible for keeping abreast of relevant changes to investor/insurer guidelines, industry standards, and client expectations
- Implements necessary training, procedures, monitoring and management controls to comply with all changes related to foreclosure processing for area of supervision
- Coaches and motivates staff to achieve performance standards, set performance goals, and sees that the goals are achieved; develops individual development plans or performance improvement plans as necessary. Reviews and approves staff timecards on a weekly basis and manages staff attendance and time off
- Participates in off-site due diligence reviews
- Attends Court hearings as needed
- Completes other duties and projects as assigned by management
- Appropriately assess risk when business decisions are made, include but not limited to compliance and operational risk. Demonstrate consideration for Cenlar's reputation as well as our clients, by driving compliance with applicable laws, rules and regulations, adhering to Policy, applying sound ethical judgment regarding personal behavior, conduct and business practices, and escalating, managing and reporting control issues, as well as effectively supervise the activity of others and create accountability with those who fail to maintain these standards
Qualifications:
- Bachelor's degree or equivalent work experience required
- 3-5 years foreclosure experience
- 2 years of supervisory experience
- Excellent communication skills; oral and written
- Thorough knowledge of FHA/VA; FNMA/FHLMC servicing guidelines and requirements
- Familiar with foreclosure laws in a multi-state portfolio
- Detail oriented, ability to successfully manage multiple priorities, and possess the ability to meet deadlines
- Strong analytical skills
- Able to work in fast paced environment
- Working knowledge with PC word processing, spreadsheets and software applications
- Requirements under the Real Estate Settlement Procedures Act (RESPA), specifically general servicing standards and loss mitigation practices.
- Requirements under the Service members Civil Relief Act (SCRA), specifically protections for Service members.
