FHA CONVEYANCE & PROPERTY PRESERVATION CONSULTANT
The Collingwood Group, a Situs company, seeks consultants trained in the oversight of post-foreclosure sale properties, involving FHA insured mortgage assets, to ensure that property preservation vendors are adhering to HUD and Client guidelines relative to the maintenance and repair of damaged properties. This role also involves coordination efforts across related Client teams, including Property Preservation, Title, and Hazard Claims, to report and remediate various issues that trigger conveyance delays.
Ideal candidates will have familiarity with FHA, VA, and GSE default inspection, property preservation, and related hazard claim servicing guidelines, including:
- Post-foreclosure sale inventory management (including oversight of property preservation vendor activities) related to FHA maintenance and damage resolution efforts
- FHA conveyance delay remediation
- Hazard claim coordination
- Damage report / inspection review, identifying and quantifying damage scope, addressing surchargeable (including mortgagee neglect) damages in accordance with FHA and Client requirements.
- Investor / Insurer damage repair allowable limits, overallowable and conveyance extension submission requirements and timelines, and investor / insurer maintenance / damage expense claimability limits.
In this project, you will support our clients in monitoring pre-conveyance damaged-property inventories. You will work among a small team of highly accomplished professionals in an entrepreneurial, fast-growing company, and be exposed to some of the most newsworthy topics affecting residential loan servicing across the United States.
· Overseeing property inspection and preservation needs for properties serviced by Client or Client’s sub-servicer
· Reviewing and drafting preservation and hazard claim chronologies and work histories related to overall preservation efforts
· Understanding HUD-property repair allowabales, reviewing bids for property preservation work and property securing as needed
· Monitoring vacant property, damaged property, and bad address preservation vendor reports, aggregating property status and addressing activity delays
· Coordinating with the Client’s Property Preservation team and/or preservation vendor to ensure all preservation requirements are met as outlined by investor/insurer.
· Working with Title and Hazard Claims teams, as well as related preservation vendor to ensure properties are placed in conveyance condition in a timely manner
· Conducting quality assurance preservation vendor scorecard performance audits, including vendor in conveyance condition (ICC call) quality, as needed
· Ensuring compliance with investors and insurer property preservation guidelines
· Reviewing various vendor and Client reports, and assisting in the development of new / more relevant reporting structures related to measuring various preservation activities and conveyance SLAs
· Working with management to develop and implement new or revised processes and guidelines, improving process efficiencies and identifying potential gaps created within the Preservation, Hazard Insurance teams or with designated vendor
- Aggregate and maintain post-foreclosure sale / pre-conveyance internal inventory reports, monitoring and trending inventory movement, conveyance delays trends / root causes
Qualifications / Personal Characteristics
- 2-4 years of experience in a mortgage default servicing or distressed (damaged) property management firm with specific experience working with FHA, VA and USDA servicing and or property preservation guidelines and rules
- General knowledge of mortgage banking or servicing. Familiarity with regulations such as RESPA, FDCPA, GLBA, and/or federal and state laws related to foreclosure and bankruptcy processes is helpful but not required
- 2- 4 year college degree (and/or equivalent work experience)
- Demonstrated ability to audit and analyze work outputs by interpreting government agency and department guidelines/standards
- Demonstrated analytical skills, ability to analyze problems and provide the appropriate solution
- Demonstrated problem solving, multi-tasking and organizational skills with strong attention to detail
- Strong professional and interpersonal communication skills verbally and through written electronic correspondence
- Must be highly confidential to protect the client's privacy rights
- PC skills including (but not limited to) Word, Excel, Access, Internet, MSP (LPS/Fidelity) application skills
- Self-starter who can prioritize and direct their own work
ABOUT THE COLLINGWOOD GROUP
A Situs company, Collingwood (www.Collingwoodllc.com) is a Washington, D.C. –based provider of specialized business advisory, business solutions and transaction services to the residential housing finance industry.
Situs (www.situs.com) is a global provider of strategic business and technology solutions to the real estate and finance industries. Situs has been involved in more than $1 trillion of real estate debt and equity deals across the U.S., Europe and Asia, and has acquired a number of platforms. In 2012, Situs acquired Deutsche Bank’s European Servicing operations and became one of the largest third-party loan servicers in Europe; and Hatfield & Phillips, the largest non-performing loan and CMBS Special Servicer in Europe in 2016. Situs’ acquisition in 2017 of The Collingwood Group, a Washington, DC, advisory firm focused on residential housing finance, expanded Situs’ offer in the residential market, and was bolstered by the 2018 acquisition of MountainView Financial Solutions, an industry-leading valuation and risk analytics solutions provider for the financial services sector.
Situs is a rated primary and special servicer with Moody’s, Fitch and Morningstar, has more than $165 billion (€137 billion) of assets under management and is ranked a top 20 commercial loan servicers in multiple categories by the Mortgage Bankers Association. In 2016, Situs received a second consecutive “Advisor of the Year” award from Real Estate Finance & Investment magazine, and the “Capital Advisor Firm of the Year” award from Property Investor Europe. In 2017, the firm won the “Industry Contributor of the Year” award from Real Estate Finance & Investment magazine.
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