Foreclosure Specialist

Job Description

I. OVERVIEW:

The Foreclosure Specialist is responsible for independently managing all phases of the foreclosure process with precision, regulatory expertise, and strict adherence to investor, insurer, federal, and state requirements. This role requires a deep understanding of legal, financial, and operational procedures related to default servicing, ensuring timely file progression, accurate documentation, and full compliance with VA, FHA, Freddie Mac, and Fannie Mae (FNMA) guidelines across both judicial and non-judicial foreclosure environments.

II. EXPECTATIONS:

Foreclosure Case Oversight

• Manage a portfolio of complex foreclosure files, ensuring timely progression in accordance with regulatory and investor timelines.
• Review loan documents, track critical milestones, and resolve escalated or non-routine issues requiring advanced analytical judgment.

Document Preparation & Quality Control

• Prepare, validate, and authorize key foreclosure documents, including first legal actions, sale notices, judgments, and deeds.
• Ensure accuracy of all legal filings and financial calculations, including bids, reinstatement figures, payoffs, and judgment amounts.

Legal, Title, and Vendor Coordination

• Collaborate with attorneys, trustees, title companies, and third-party vendors to support the timely advancement of foreclosure actions.
• Review title reports to identify defects, liens, and curative requirements; coordinate resolution to prevent delays in sale or conveyance.
• Ensure all title documentation meets regulatory, investor, and insurer expectations.

Regulatory, Investor & Insurer Compliance

• Maintain expert-level knowledge of FHA, VA, FNMA, and Freddie Mac foreclosure, reporting, and claim-related requirements.
• Ensure actions and decisions comply with all federal, state, investor, and insurer rules.
• Submit required reporting—including foreclosure milestones, sale results, delays, and exceptions—within mandated deadlines.

Specialized Responsibilities

FHA Extension Filing & Deadline Management

• Prepare, justify, and submit FHA Extensions through EVARS, P260, or other HUD-authorized systems when delays threaten allowable foreclosure or conveyance timelines.
• Monitor extension approvals, denials, expirations, and follow-up requirements.
• Document all supporting evidence, including title complications, bankruptcy, court delays, servicer-caused delays, or uncontrollable circumstances.

Post-Foreclosure Claim Filing & Recovery (MI & Insurer Claims)

• Prepare, file, and manage Mortgage Insurance (MI) claims and insurer claims (FHA, VA, USDA, FNMA, Freddie Mac) following foreclosure, ensuring full compliance with investor/insurer guidelines.
• Collect, validate, and reconcile all required documentation, including final legal invoices, property preservation expenses, sale results, and title conveyance evidence.
• Monitor claim deadlines, supplemental claim opportunities, and insurer responses to maximize recoveries and mitigate financial loss.
• Resolve claim deficiencies, request corrections, and coordinate with internal teams, attorneys, and vendors to ensure accurate reimbursement.
• Maintain expert understanding of insurer portals, including HUD/EVARS, FHA Catalyst, VA systems, and applicable investor claim platforms.

Judicial & Non-Judicial Process Expertise

• Navigate both judicial and non-judicial foreclosure processes with a high degree of technical proficiency.
• Ensure statutory, regulatory, and investor requirements are met from referral through sale and claim filing.

Process Optimization & Leadership Support

• Identify opportunities to improve workflows, strengthen compliance, and enhance operational efficiency.
• Support internal audits, investor reviews, quality control processes, and system enhancement initiatives

III. REQUIRED EXPERIENCE & KNOWLEDGE:

• High school diploma or equivalent required; Bachelor's degree preferred.
• Minimum of two years of foreclosure or mortgage default-servicing experience.
• Strong knowledge of federal, state, investor, and insurer foreclosure requirements.
• Experience preparing and submitting MI, FHA, VA, FNMA, or Freddie Mac claims preferred.
• Exceptional analytical, organizational, and communication skills.
• High attention to detail and commitment to accuracy and compliance.
• Proficiency in Microsoft Office and servicing systems (MSP, P260, EVARS, FHA portals, etc.).
• Ability to work independently while contributing to team and departmental goals.

DISCLAIMER: The above statements are intended to describe the general nature and level of work being performed by individuals in, or assigned to, the above position and are not intended to be construed as an exhaustive list of all responsibilities, duties and skills required, and may be changed at the discretion of the company.

Job Category: Corporate Operations

Job Type: Full Time

Work Type: Hybrid

Job Location: Addison

Job Number: JO