HM Default Ops Sr. Spec

Citizens Bank; Glen Allen (VA); Hybrid; USD 34,000 - 43,000; Full time

Job summary

Citizens Bank is seeking a Default Reporting Specialist to monitor and report loan defaults to investors, ensuring timely, accurate status and reason codes. You will manage multiple investor portfolios, assist MSP mapping, and lead partner meetings to resolve illogical delinquencies.

The role requires strong analytical abilities, excellent communication, and proficiency with MSP/LoanSphere tools. Hybrid schedule, with in-office M-TH and work-from-home Fridays after training.

Qualifications

• Experience with Default Investor Reporting, along with Mortgage Default Management, Loss Mitigation, Foreclosure, Bankruptcy, preferred
• Strong organizational, analytical, and critical thinking skills
• Excellent communication skills
• Ability to manage competing priorities
• Knowledge of MSP/ LoanSphere FCL/BNK and LoanSphere DAR (HUD/GNMA/USDA)
• Strong Microsoft office skills (Excel/Word/Power Point/Co-Pilot)
• Education-Certifications and/or other professional Credentials: HS Diploma, College degree, Associates degree and/or minimum of 3 years mortgage default experience

Responsibilities

• Meet reporting deadlines set by FNMA/FHLMC/MI/Private Investors, and VA.
• Manage the FNMA/FHLMC/MI/Private Investors and VA portfolios. Will also provide back up to HUD/USDA and GNMA.
• Assist in maintaining MSP mapping and admin tables.
• Attend and lead meetings with business partners.
• Daily status code and reason for delinquency reports worked to ensure that by month end all illogical coding has been resolved and corrected.
• Identify the delinquency episode to determine the reason for default
• Working knowledge of MSP, LoanSphere FCL/BNK/DAR, HSSN/AMN, FHLMC EDR Gateway, VA-VALERI, Excel, Word
• Collect, review, and analyze data and/or documentation to ensure compliance with department SLAs, policies, procedures, and/or regulatory and risk requirements.
• Assisting with various projects and other Default Reporting related functions.
• Communicate effectively, clearly, and concisely verbally and in writing with our business partners, vendors (ICE).

Skills

Analytical skills

Organizational skills

Communication skills

Multitasking

Independent work

Adaptability

Education

HS Diploma

College degree

Associates degree

Mortgage default experience (3 years)

Tools

MS Office (Excel/Word/PowerPoint)

Job description

Description

Default Investor Reporting has one primary function of reporting the status of loans in default to the investor monthly. Its secondary function is to identify and resolve illogical conditions as possible prior to month-end reporting. Default Reporting Specialist requires that all default investor/insurer timelines met by reporting accurately and on time. By doing so this will maintain our excellent score card ratings as well as to avoid any compensatory fees and reputational risk. To maintain this, the Home Mortgage Default Ops Specialist (Default Reporting Specialist) will have working knowledge of how status code reporting aligns with the loan status of default along with the reason for the delinquencies.

This role performs routine, complex analytical review of data and/or documentation which may include customer data and/or review for fraud/risk activities and/or perform moderately complex analysis to identify and resolve process-level issues. May assist in developing and implementing policies, procedures, and training materials to maximize efficiency. May manage projects requiring coordination with other teams, process improvement projects and may perform other such duties as assigned including trouble shooting operational issues.

Primary responsibilities include:

• Meet reporting deadlines set by FNMA/FHLMC/MI/Private Investors, and VA.
• Manage the FNMA/FHLMC/MI/Private Investors and VA portfolios. Will also provide back up to HUD/USDA and GNMA.
• Assist in maintaining MSP mapping and admin tables.
• Attend and lead meetings with business partners.
• Daily status code and reason for delinquency reports worked to ensure that by month end all illogical coding has been resolved and corrected.
• Identify the delinquency episode to determine the reason for default
• Working knowledge of MSP, LoanSphere FCL/BNK/DAR, HSSN/AMN, FHLMC EDR Gateway, VA-VALERI, Excel, Word
• Collect, review, and analyze data and/or documentation to ensure compliance with department SLAs, policies, procedures, and/or regulatory and risk requirements.
• Assisting with various projects and other Default Reporting related functions.
• Communicate effectively, clearly, and concisely verbally and in writing with our business partners, vendors (ICE).

Key Success factors include:

• Knowledge of Default Investor Reporting and the use of status and reason codes. Emphasis on FNMA/FHLMC/MI/VA and Private Investors.
• Knowledge of Foreclosure, Loss Mitigation, Bankruptcy and Collection process.
• Working knowledge of MSP, LoanSphere FCL/BNK/DAR, HSSN/AMN, FHLMC EDR Gateway, VA-VALERI.
• Ability to multitask and meet investors deadlines
• Ability to work independently and have strong analytic skills
• Ability to adapt procedures, processes, and techniques to the completion of assignments.
• Able to independently apply competencies in routine and more complex situations.
• Knowledge of the Investor/Insurer and MI companies reporting requirements and deadlines.
• Work closely with Investor Reporting, Default Cash and Claims as well as all other Default Business lines.

Qualifications/Required Skills/Experience:

• Experience with Default Investor Reporting, along with Mortgage Default Management, Loss Mitigation, Foreclosure, Bankruptcy, preferred
• Strong organizational, analytical, and critical thinking skills
• Excellent communication skills
• Ability to manage competing priorities
• Knowledge of MSP/ LoanSphere FCL/BNK and LoanSphere DAR (HUD/GNMA/USDA)
• Strong Microsoft office skills (Excel/Word/Power Point/Co-Pilot)
• Education-Certifications and/or other professional Credentials: HS Diploma, College degree, Associates degree and/or minimum of 3 years mortgage default experience

Hours & Work Schedule

Hours per week: 40

Work Schedule: Monday- Friday 8:00am-5:00pm *This is a hybrid position

In office M-TH, Work from Home Friday after successful training period.

Pay Transparency

The salary range for this position is $25.49 - $31.25 per hour. Actual pay is based on various factors including but not limited to the budget, work location, and relevant skills and experience.

We offer competitive pay, comprehensive medical, dental and vision coverage, retirement benefits, maternity/paternity leave, flexible work arrangements, education reimbursement, wellness programs and more. Note, Citizens’ paid time off policy exceeds the mandatory, paid sick or paid time-away policy of every local and state jurisdiction in the United States. For an overview of our benefits, visit https://jobs.citizensbank.com/benefits.

Equal Employment Opportunity

Citizens, its parent, subsidiaries, and related companies (Citizens) provide equal employment and advancement opportunities to all colleagues and applicants for employment without regard to age, ancestry, color, citizenship, physical or mental disability, perceived disability or history or record of a disability, ethnicity, gender, gender identity or expression, genetic information, genetic characteristic, marital or domestic partner status, victim of domestic violence, family status/parenthood, medical condition, military or veteran status, national origin, pregnancy/childbirth/lactation, colleague’s or a dependent’s reproductive health decision making, race, religion, sex, sexual orientation, or any other category protected by federal, state and/or local laws. At Citizens, we are committed to fostering an inclusive culture that enables all colleagues to bring their best selves to work every day and everyone is expected to be treated with respect and professionalism. Employment decisions are based solely on merit, qualifications, performance and capability.