Apply
Description
General Job Summary
The Foreclosure Supervisor is responsible for overseeing all foreclosure-related operations, ensuring compliance with investors, insurer, and regulatory requirements while driving timely resolution of defaulted loans. This role leads the daily workflow execution, staff performance, and foreclosure processing activities from referral through liquidation and post-foreclosure actions.
The Supervisor ensures all foreclosure timelines, reporting requirements, legal processes, and asset management activities are executed accurately and efficiently. This position plays a critical role in minimizing loss severity, mitigating risk, and maintaining operational integrity across the foreclosure portfolio.
Summary of Essential Job Functions
- Supervise the end-to-end foreclosure process, including referral approval, attorney management, and file progression through completion.
- Manages departmental performance metrics and operational reporting.
- Ensure all foreclosure actions meet investors (FNMA, FHLMC, FHA, VA, FHLB, USDA, private), insurer, and regulatory requirements.
- Approve foreclosure referrals for accuracy, completeness, and compliance.
- Monitor foreclosure sale bids, or obtain investor specific bidding instructions, and ensure timely delivery to counsel.
- Monitor foreclosure holds and ensures proper application based on loss mitigation, bankruptcy, and regulatory requirements.
- Track loans in redemption and ensure compliance with state-specific timelines and reinstatement/payoff handling.
- Oversee foreclosure related legal activity, ensuring compliance with court timelines and documentation standards.
- Lead internal and external audits and coordinate responses to audit findings.
- Review foreclosure documents, affidavits, and other required legal filings.
- Maintain foreclosure letter registration compliance in accordance with state requirements.
- Manage Real Estate Owned (REO) inventory, including property preservation, marketing, vendor coordination, and liquidation.
- Monitor payment processing on foreclosure loans, including suspense account management and reconciliation.
- Monitor and report on key performance indicators (KPIs), including timelines, accuracy, and compliance metrics.
- Review escrow disbursement requests for compliance.
- Reconcile zero UPB loans, ensuring resolution of surplus or negative balances.
- Oversee conveyance processes for FHA, VA, and USDA properties, ensuring compliance and timely submission.
- Ensure timely removal and system updates of foreclosed and REO loans.
- Monitor team productivity, quality, and compliance; implement corrective actions as needed.
- Provide ongoing leadership, coaching, training, and daily direction to Foreclosure Specialists and Foreclosure Operations Analysts, including but not limited to assigning and prioritizing work, approving time cards and PTO, conducting performance evaluations, and participating in hiring, promotions, disciplinary action, staff recommendations, and succession planning.
- Manage MERS activities for defaulted loans, including status updates and data reconciliation.
- Maintain collateral documentation processes, including tracking and coordination with custodians.
- Ensure all files meet audit standards and internal controls.
- Train, coach, and develop staff to improve performance and ensure adherence to procedures.
Other Job Functions
- Coordinate and manage all departmental communications, including incoming and outgoing mail, email correspondence, and phone inquiries, ensuring timely response and proper routing.
- Collaborate with investors, attorneys, vendors, and internal departments to research, resolve, and escalate outstanding foreclosure-related issues.
- Support cross-functional efforts to improve workflow efficiency and ensure timely resolution of exceptions and escalations.
- Perform additional duties and special projects assigned by management to support departmental and organizational objectives.
Requirements
Education, Training and Work Experience
- High school diploma or equivalent required.
- Minimum 3 years of mortgage servicing experience required.
- Minimum 3 years of foreclosure experience required.
- Prior supervisory experience managing teams preferred.
- Experience with MSP and BKFS systems required.
- Strong working knowledge of FNMA, FHLMC, FHA, VA, FHLB, USDA, and private investor foreclosure guidelines.
Knowledge, Skills, and Abilities
- Strong leadership and team management skills.
- In-depth knowledge of foreclosure processes, timelines, and compliance requirements.
- Excellent organizational, analytical, and time management abilities.
- High attention to detail and accuracy.
- Ability to manage competing priorities in a deadline-driven environment.
- Effective communication and negotiation skills (written and verbal).
- Strong problem-solving and decision-making capability.
Working Environment
Primary working environment is within an indoor climate-controlled office space and/or a private home office or some combination which will be at management's sole discretion. Employee may be subject to fluorescent lighting, dust, and other normal indoor allergens. Employee may work in proximity to coworkers and occasionally independently in quiet environments.
Physical Requirements
- Ability to sit for extended periods.
- Ability to perform repetitive tasks (keyboard/mouse use).
- Ability to lift up to 20 pounds occasionally.
Disclaimer
The above statements are intended to describe the general nature and level of work being performed by people assigned to this classification. They are not to be construed as an exhaustive list of all responsibilities, duties, and skills required of personnel so classified. All personnel may be required to perform duties outside of their normal responsibilities from time to time, as needed.
The salary range for this role takes into consideration a wide range of factors including but not limited to the duties of the role, experience, location, and certificates and/or education.
University Bank is an Equal Opportunity / Affirmative Action Employer