Nationstar Mortgage Lewisville , TX 75067
Ready to be a Cooper too? This might just be right up your alley!
The Contract Recovery Specialist is responsible for validating the claim amount, evaluating any discrepancies between advances made, claims filed and amounts received, and determining the root cause for all losses by Department & Activity. Responsibilities also include reviewing contracts, identifying all potential bill-back items and recovering or minimizing losses associated with servicing activities including Claims and Repurchase. Responsible for performing loss analysis on Reverse mortgage loans, determining reason for advances not being recovered on mortgage foreclosures, DILs, and Short Sales. Evaluates discrepancies between advances made, claims filed and amounts received, and determining the root cause for losses. Responsibilities also include reviewing contracts, identifying potential bill-back items and recovering or minimizing losses. Performs review of debenture interest curtailment timelines, determines responsible party and root cause of loss, and submits information into Project Titan for remediation.
ESSENTIAL JOB FUNCTIONS
Reviews all existing and future contracts for Servicing and identify all opportunities and requirements to assign losses back to third party.
Builds and implements process for servicing organization to report and track all potential recoveries. Drafts and tracks call correspondence necessary to request recovery items.
Responds to calls or correspondence from attorneys, third party vendors, government agencies and other Servicers.
Prepares summary statements and presentations to senior management related to large-dollar or persistent issues.
Works with in-house counsel when appropriate to determine escalation path for unresolved items.
Support Repurchase group within Acquisitions to resolve Servicer discrepancies.
Prepares and maintains monthly management reports detailing the roll-forward and chance of recovery of each loss recovery item.
EDUCATION / EXPERIENCE REQUIREMENTS
Graduation from a 4-year college or university with major course work in a discipline related to the requirements of the position is preferred. Will consider the equivalent combination of job experience & education that demonstrates the ability to perform the essential functions of this job.
J.D. degree or para-legal certificate preferred, admittance to practice not required.
Knowledgeable of Contract Law
Familiar with litigation guidelines on a state by state basis
Minimum of 2 years mortgage servicing, origination or the financial industry experience.
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