Loss Mitigation Single Point of Contact Escalations Specialist - WFH Details

Loss Mitigation Single Point of Contact Escalations Specialist - WFH

Flagstar Bank - Michigan

Employment Type : Full-Time

The Loss Mitigation Single Point of Contact (SPOC) Escalation Specialist is an advanced subject matter expert and serves as a main point of contact for borrowers facing a financial hardship and requesting loss mitigation assistance by offering support and guidance during the loss mitigation review process. The escalation specialist is a leader on the team and can act as the backup to the supervisor.
All functions must be completed within the production and quality standards. Role requires utilization and understanding of multiple servicing systems, applications and reporting. Role requires accuracy and attention to detail, strong organization skills, independent problem solving ability and excellent communication skills.

Job Responsibilities:

Perform SPOC Escalation Specialist Role. Role requires the ability to perform multiple functions throughout the Loss Mitigation process under limited supervision, including:

• Responsible for resolving complex/complicated exceptions to the standard loss mitigation process
• Provide consistent communication to the team regarding daily work goals, expectations, and any policy and/or process changes.
• Oversee daily team operations; provide guidance and direction in daily work flow and volume.
• Effectively train employees to adhere to the requirements established by default servicing operations
• Communicate directly with the borrower to explain loss mitigation options, how to apply for assistance, and provide status updates during the review period and properly document all borrower communications in Flagstar Bank’s system of record
• Coordinate the receipt of all necessary documents and notify the borrower of any required documents necessary to complete the application
• Obtain and evaluate all relevant information to handle inquiries and complaints correctly and in a timely manner
• Maintains knowledge of regulatory requirements and investor/insurer guidelines that may impact default servicing operations.
• Understand key performance and risk indicators in the Loss Mitigation Process, and how individual role contributes to meeting or exceeding these goals;
• Maintain and practice sound judgment in all aspects of role
• Reinforces culture of shared ownership and accountability for results.
• Collaborating with other default servicing teams, and other internal teams, to assist in the continued development of a best in class default servicing oversight operation.
• Perform additional responsibilities as assigned by manager.

• Ensures compliance with applicable federal, state and local laws and regulations. Completes all required compliance training. Maintains knowledge of and adhere to Flagstar’s internal compliance policies and procedures. Takes responsibility to keep up to date with changing regulations and policies.

Job Requirements:

• Required 8+ years default mortgage financial services experience, required in Loss Mitigation
• Required, advanced subject matter expertise in Loss Mitigation
• Preferred, 5+ Years Understanding of Mortgage Servicing and Mortgage Servicing Regulation (TCPA, FDCPA, FCRA) and Regulators (OCC, FRB, CFPB, GSE, HUD)
• Strong Knowledge , of end to end default mortgage servicing operations including bankruptcy, debt collection, and foreclosure process.
• Required HS Diploma, GED or Foreign Equivalent
• Self-Driven, Personally Accountable Personality
• Understanding of MS Office Suite with intermediate technical and computer skills. Specifically an ability with Microsoft Excel
• Ability to navigate quickly within various computer programs.
• Excellent verbal and written communication skills, as well as strong listening skills
• Exceptional analytical and problem solving skills with an ability to think quickly under pressure.
• Ability to handle high production volume and answer customer questions in a timely manner.
• Ability to look for ways to improve and promote quality.
• Ability to work independently with limited supervision.
• Ability to work varying shifts including evenings and weekends.
• Willingness to work in a team environment
• Confident and efficient work approach with a customer focus

Internal Use Only: I-Hrly