Job description

Loan Default Specialist

Our mission is to create exceptional experiences for our customers that help them achieve their dreams, and we are looking for exceptional people who have the talent and passion to help us make those dreams come true.

Looking for a career with a great company culture, potential for growth, and the opportunity to make a difference in the lives of others? At North American Savings Bank (NASB), we deliver best-in-class customer service and the right financial solutions to help our customers achieve their dreams, whether it’s buying their first home, planning for retirement, or anything in between. We believe that exceptional customer service starts by cultivating an exceptional work culture—one that recognizes and rewards hard work, provides the right tools for success, and believes that healthy, happy associates are the foundation of a strong organization. NASB has been in business for over 92 years, and our rapid growth means we are looking for new team members who want to grow with us!

We are currently looking for a Loan Default Specialist to join our Default Management team.

Job Summary
The Default Specialist is the Single Point of Contact (SPOC) for all borrowers experiencing a financial hardship, or imminent default, with making their monthly mortgage payments, including loss mitigation, bankruptcy, and/or foreclosure cases. The Default Specialist’s main responsibility is to assist borrowers with viable solutions in curing their delinquency and/or avoiding foreclosure by identifying the appropriate Investor’s eligible retention and disposition options. Mitigating financial losses for investors, in a timely, accurate and compliant manner, along with moving the loan thru the appropriate stages of default. The Default Specialist is responsible for all phases of the default process from start to finish with consistent and timely communication to all parties.

What you can expect to work on

• Sending of Loss Mitigation Packages along with reviewing all supporting financial statements, to verify all required investor documentation is complete. If incomplete, communication to borrower for missing documents and/or conditions.
• Perform verifications of income including calculate debt-to-income, verify hardship as well as occupancy status, assess and analyze financial documents to determine borrowers’ eligibility of specific loss mitigation options based on investor guidelines (e.g. loan modifications, repayment plans, forbearance plans and short sales).
• Ability to prepare formal documents (e.g. loan modifications, repayment plans, TPP letters) to complete the loss mitigation option, document storage, communication and recording of such documents.
• Complete loan servicing system and default management system events and tasks in a timely and efficient manner.
• Establish positive working relationships and lines of communication with appropriate business partners and third parties (e.g. internal departments, investors, outsource vendors).
• Generate and maintain reports on the default portfolio for investors and management.
• Ability to meet critical deadlines regarding solicitations, financial reviews, correspondence, etc. and achieving departmental goals while maintaining accuracy and quality of product.
• Maintain strict adherence to company policies and procedures, investor guidelines, and State and Federal laws and regulations.
• Perform other duties as required and/or assigned.
• Miscellaneous other duties as assigned.

What you offer us

• Minimum of two (2) years of default loan servicing experience with strong knowledge of FHA, VA, Fannie and Freddie loss mitigation requirements and/or bankruptcy regulations.
• Bachelor’s Degree preferred.
• Exceptional communication and negotiation skills with all parties and maintain professionalism with customers.
• Possess strong verbal, written, organizational and time management skills with attention to detail and accuracy.
• Ability to solve complex problems and skill set to work independently.
• Demonstrates sound judgment with ability to work the life of loan.
• Must possess proficiency in Microsoft Excel and Word.
• Must possess fulfillment, underwriting, real estate, and legal documentation knowledge.
• Extensive periods of sitting and keyboard/computer work.
• Communicates with individuals in person and over the phone.

Work Environment
This position will be a hybrid-based schedule with a combination of in-office and remote work.

Vaccine Policy
NASB has a vaccine policy, which requires all employees to be vaccinated.

What we offer you
NASB offers competitive compensation and excellent benefits packages, including:

• Comprehensive health insurance options including medical, dental, and vision coverage.
• 401(k) retirement plan with immediate employer match.
• Generous paid vacation, sick and personal days. Plus, enjoy a bonus day off for your birthday!
• Exclusive mortgage and banking benefits.
• Paid holidays, volunteer time off, and free parking at NASB facilities.
• Employee referral bonuses and internal training programs to help reach your career goals.

If you have any questions, please contact jobs@nasb.com

Note: This job description should not be construed to imply that these requirements are the exclusive standards of the position. Incumbents will follow any other instructions, and perform any other related duties, as may be required. The employer has the right to revise this job description at any time. The job description is not to be construed as a contract for employment.

North American Savings Bank (NASB) is an Equal Opportunity/ Affirmative Action employer. We provide equal employment opportunities to all qualified employees and applicants for employment without regard to race, religion, sex, age, marital status, national origin, sexual orientation, citizenship status, veteran status, disability, or any other legally protected status. We prohibit discrimination in decisions concerning recruitment, hiring, compensation, benefits, training, termination, promotions, or any other condition of employment or career development.

Job Type: Full-time

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