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Loan Servicing Research Analyst
Flagstar Bancorp
Troy, MI, United States
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Position Title Loan Servicing Research Analyst
Location Headquarters-Troy, MI
Job Summary Flagstar Bank is seeking a detail oriented, analytical individual to join our team as a Loan Servicing Research Analyst. This individual must be able to identify Default Loan notifications and follow specific instructions on time sensitive documents. Meet contractual obligations, investor guidelines, regulatory and legal requirements and follow generally accepted servicing practices. Also insures timeframes meet all regulatory and compliance requirements. This role requires in depth knowledge of the functional area processes and all associated investor and regulatory guidelines. This position requires interaction with multiple business units and various programs for specific documents to successfully code the document and deliver to the appropriate business unit, while reducing risk, minimizing losses or avoiding additional costs to the bank. This position works independently and within a dynamic team environment.
This position performs multi-functional mail and document quality control task, to ensure time sensitive documents are being reviewed and delivered. Aggressive deadlines will be met, by working on multiple task simultaneously and by achieving appropriate expectations on complex business opportunities.
Job Responsibilities:
• 30% of time: Responsible for critical time sensitive processing of electronic Bankruptcy Notifications daily received by third party services. Attention to detail in the processing of retrieving/research and adhering to applicable contractual obligations, investor guidelines, regulatory and legal requirements.
• 20% of time: Processing MERS documents for time sensitive Foreclosure documents received daily from the MERS Mortgage Electronic Registration System.
• 15% of time: Understand, manage and review Default Servicing Administration Bankruptcy Documents processed by Default Servicing Vendor Standards.
• 10% of time: Perform quality control, risk, compliance and internal audit for Default Servicing Administration Original Notes/Mortgages/Deeds. Assist in the support of delivering packages containing Notes to the appropriate Default Service Oversight area. Perform Quality Control on default servicing documents, Demand Letters and Review checklists sent to borrowers entering Foreclosure proceeding. Detail to information scanned by imaging departments identify documents.
• 10% of time: Collaborating with default servicing teams, and other internal teams to ensure Bankruptcy and Foreclosure checks are managed and delivered to the appropriate area for processing.
• 15% of time: Processing of Post Redemption residential invoices. Review invoices by utilizing various programs associated with investor and regulatory guidelines to ensure invoices are coded with appropriate process stop codes and Foreclosure stop codes, which designates the invoice to the appropriate departments for processing.
Job Requirements:
• HS Diploma, GED or Foreign Equivalent required
• Bachelor’s degree in a related field is strongly desired. Business Administration, Finance, Accounting, or related
• MSP Loan Servicing system
• 1 + year Experience with Mortgage Loan Servicing, Foreclosure, Eviction and Loss Mitigation
• Broad exposure to CFPB, OCC, and investor/insurer requirements
• 2 + years experience with servicing systems, including MSP/BKFS templates and LoanSphere
• Minimum 2 years of Mortgage experience
• Strong problem solving & strategic thinking skills with the ability to identify problems and recommend solutions
• Exceptional written and oral communication including facilitation & summarization skills to drive action and results
• Must be highly organized and have a strong attention to detail including the ability to create and maintain documentation
• Have an innate ability to understand very complex processes and systems, immediately and intuitively understanding how they work and how they can be improved
• Adjusts positively to quickly-changing priorities and shifting goals
• Ability to interact professionally with a diverse group
• Strong ability to work with a sense of urgency in a fast pace environment
• Ability to monitor and quality control of LPS Desktop work groups, holds and tasks.
• Experience with Mortgage Servicing Software (including MSP and LPS Desktop)
• Strong analytical and technical skills including Excel.
• The job requires a moderate degree of physical exertion and stamina such as standing, sitting, walking, driving or infrequent lifting.
Internal Use Only: Band K-hrly