Job Summary
The Consumer Loan Default Account Analyst will work with borrowers to identify available loan solutions to their maturing/balloon 2nd lien mortgage or loss mitigation options for 2nd lien residential, vehicle secured and unsecured consumer loans. Additionally, the person will be assigned the role of Single Point of Contact (SPOC) for borrowers and will be responsible for managing the review and underwriting process for 100+ accounts from cradle to grave for the loans noted above. The intended purpose of this role is to identify refinance candidates, process account offsets, structure payment programs or settlements, underwrite files and mitigate risks to minimize losses and maximize cash recovery for the Company and investors. Preferred to have proficiency in standard concepts, practices, and procedures of loan underwriting or origination. Relies of data integrity to make a sound credit decision. This level of employee is expected to be familiar with risk factors and escalate accordingly to mitigate risk to the bank. Excellent quality is required, while working in a fast paced production environment.
Job Responsibilities:
* Responsible for oversight of the performance of an assigned portfolio in an effort to resolve and prevent loan delinquency or loan charge off. The single point of contact for a portfolio of 100+ loans.
* Fields inbound and outbound customer calls in effort to conduct borrower interviews. Works directly with borrowers to obtain required documentation for financial review while properly applying Flagstar and compliance/regulatory guidelines when underwriting loan modification transactions. Formulates clear and concise decisions and provides a narrative explaining the rationale for the credit decision. Fields inbound and outbound customer calls
* Performs analysis of proposed consumer loan charge off reports and presents results to management for final determination. Works directly with internal business partners to complete charge off loan processing.
* Performs analysis and completes the offset of Personal, Overdraft Line Of Credit and CD Secured loan account offsets to ensure loan payments are applied according to borrower loan agreements. Responsible for borrower communication including fielding inbound and outbound customer calls.
* Other duties may be assigned at the discretion of management.
* 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:
* Reliable Home High Speed Internet required
* HS Diploma, GED or Foreign Equivalent required
* Bachelor's Degree preferred
* Certified Residential Underwriter preferred
* 2+ years of experience communicating with borrowers related to account problem resolution and/or debt collection and resolution
* 2+ years of experience working with borrower financial information and documentation (income/expense or profit/loss statements)
* 2+ years of consumer loan underwriting or origination experience, preferred
* Strong understanding of best practices in Mortgage Banking industry-wide Servicing Operations (end-to-end) as well as regulatory expectations for Servicing Operations in Experience in bridging statistical analysis, technology and process optimization 3-5 years mortgage related experience 3 years mortgage related 3-5 years mortgage related experience
* 2+ years of experience with servicing systems, including MSP, DNA LoanSphere (LPS) and Salesforce strongly preferred.
* Ability to analyze basic levels of income, assets, credit and collateral
* Extreme attention to detail and organization
* Proven decision-making skills
* Displays initiative and drive for results
* Excellent verbal and communication skills
* Proficient in Microsoft Office applications including Word, PowerPoint, Excel and Outlook