Late Stage Default Specialist

TexasBank; Fort Worth (TX); On-site; USD 75,000 - 110,000; Full time

Job summary

TexasBank is seeking a Late-Stage Default Specialist to manage all aspects of foreclosure, claims, and property preservation in a regulated environment.

You will coordinate with attorneys, trustees, and vendors, review foreclosure actions, and monitor deadlines to align with investor and state guidelines. Strong analytical and negotiation skills are essential to minimize losses and protect asset value.

Qualifications

• Bachelor's degree in business, Finance, or related field.
• 3–5+ years of experience in mortgage servicing, with a focus on foreclosure, claims, and/or property preservation.
• Strong understanding of default servicing processes and investor guidelines (Fannie Mae, Freddie Mac, FHA, VA, USDA).
• Preferred: experience providing claims analysis and managing attorney networks for foreclosure processing.

Responsibilities

• Manage end-to-end foreclosure process with referrals, milestones and timelines.
• Coordinate with attorneys, trustees and vendors for file progression.
• Review/approve foreclosure actions, pleadings, sales and postponements.
• Monitor deadlines to stay compliant with investor/state guidelines.
• Analyze delinquent portfolios and recommend default strategies.
• Prepare and submit insurance/investor claims.
• Validate expenses and loss calculations to maximize recoveries.
• Audit claim packages for compliance; track deficiencies.
• Reconcile claim proceeds and apply funds correctly.
• Oversee property inspection, maintenance, and preservation for REO properties.
• Review preservation work orders, bids and invoices for accuracy.
• Ensure property conditions meet guidelines; coordinate occupancy and evictions.
• Maintain audit-ready documentation.
• Track KPIs and report to management.

Skills

Mortgage servicing

Foreclosure processes

Claims analysis

Negotiation

Attention to detail

Microsoft Office

Education

Bachelor’s degree in business, Finance, or related field

Tools

MS Office

Job description

SUMMARY:The Late-Stage Default Specialist is responsible for managing all aspects of default servicing activities related to foreclosure, investor claims, property preservation, Bankruptcy, and REO. This role ensures compliance with investor, insurer, regulatory, and internal servicing guidelines while minimizing loss severity and protecting asset value.JOB DUTIES AND ESSENTIAL FUNCTIONS:Manage the end-to-end foreclosure process, including referral, milestone tracking, and timeline adherence.Coordinate with foreclosure attorneys, trustees, and vendors to ensure timely progression of files.Review and approve foreclosure actions, including pleadings, sales, and postponements.Monitor key deadlines to maintain compliance with investors (Fannie Mae, Freddie Mac, FHA, VA, USDA) and state-specific requirements.Analyze delinquent loan portfolios and recommend appropriate default strategies (foreclosure, modification, deed-in-lieu, etc.).Prepare, review, and submit timely and accurate insurance and investor claims (FHA, VA, MI, GSE, and private investors)Validate all eligible expenses, advances, and loss calculations to maximize recoveries.Audit claim packages for compliance with investor and insurer guidelines.Track claim status and follow up on deficiencies, adjustments, or denials.Reconcile claim proceeds and ensure proper application of funds.Oversee property inspection, maintenance, and preservation activities for delinquent and REO properties.Manage vendors responsible for securing, winterizing, repairing, and maintaining properties.Review and approve preservation work orders, bids, and invoices for accuracy and compliance.Ensure property conditions meet investor and insurer guidelines, including conveyance condition requirements.Monitor occupancy status and coordinate eviction processes when necessary.Ensure adherence to all federal, state, and investor regulations, including CFPB, HUD, VA, and GSE servicing guidelines.Maintain accurate documentation and audit-ready files.Identify and mitigate operational risks related to foreclosure timelines, claim curtailments, and preservation costs.Assist with tracking, evictions, and maintenance of REO propertiesSupport internal and external audits by providing documentation and responding to inquiries.Track and report key performance metrics (timelines, claim recovery rates, preservation costs, etc.).Analyze trends and identify opportunities to reduce losses and improve operational efficiency.Provide regular status updates to management and stakeholders.KEY COMPETENCIES:Strong knowledge of mortgage servicing practices, loss mitigation options, and bankruptcy processes.Excellent communication and negotiation skills.Ability to analyze financial information and make sound decisions.Strong attention to detail and organizational skills.Ability to manage a high-volume workload in a fast-paced environmentProficiency with servicing platforms and Microsoft Office (Excel, Word, Outlook).WORKING CONDITIONS:Standard office environmentPrimarily office-based with some remote work as neededStandard business hours with occasional overtime during peak periodsFast-paced, deadline-driven environment requiring attention to detail and accuracyFrequent interaction with internal departments, vendors, and borrowers via phone, email, and virtual meetingsExposure to confidential and sensitive financial information requires strict adherence to data security and privacy policiesPHYSICAL DEMANDS:Prolonged periods of sitting at a desk and working on a computerOccasional walking, standing, bending, squatting, reaching, and twisting.Frequent use of hands and fingers for keyboarding and document handlingAbility to view computer screens for extended periods of timeAbility to communicate effectively via phone and video conferencing (hearing and speaking clearly)Ability to lift small office items (e.g., files, documents, laptops) up to 10–15 pounds, if necessaryMINIMUM REQUIREMENTS:Bachelor’s degree in business, Finance, or related field (or equivalent work experience).3–5+ years of experience in mortgage servicing, with a focus on foreclosure, claims, and/or property preservation.Strong understanding of default servicing processes and investor guidelines (Fannie Mae, Freddie Mac, FHA, VA, USDA)PREFERRED REQUIREMENTS:3-5+ years of experience providing claims analysisAbility to manage, evaluate, and report on attorney network for foreclosure processingDisclaimer: This job description is not designed to cover or contain a comprehensive listing of activities, duties or responsibilities that are required of the employee. Duties, responsibilities, and activities may change, or new ones may be assigned at any time with or without notice.We are an Equal Opportunity EmployerTexasBank is committed to providing equal employment opportunities regardless of race, creed, color, religion, alienage or national origin, ancestry, citizenship status, age, disability or handicap, sex, marital status, veteran status, sexual orientation, genetic information, arrest record, or any other characteristic protected by applicable federal, state or local laws. This policy applies to all terms and conditions of employment, including, but not limited to, recruiting, hiring, placement, promotion, compensation, benefits, training, disciplinary actions, layoff, recall, transfer, leaves of absence, and termination. Employees with questions or concerns about any type of discrimination in the workplace are encouraged to bring these issues to the attention of Human Resources.