Contract Recovery Specialist II (4338) in Lewisville, TX at Mr. Cooper

Date Posted: 9/12/2018

Job Snapshot

Job Description



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

  • Perform loss analysis for the Claims Department to determine why advances were not recovered on home mortgage foreclosures, DILs, and Short Sales.
  • Perform analysis of all LSAMS transactions relating to advances and expenses on zero UPB loans and reconcile to all Claim funds and Third Party funds received.
  • Specialist makes charge off decision based on recoverability.  If recoverable from 3rd party, pursue claim.  If not, added to charge off list.
  • 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.

KNOWLEDGE, SKILLS, ABILITIES

  • Bachelor's degree preferred and typically requires a minimum of 2 - 5 years related work experience. Mortgage and/or Financial services experience a plus.
  • Operates effectively under no supervision. Effectively builds strong relationships with team, manager and department. Often goes beyond the basic requirements and takes on initiatives that clearly add value. Often leverages new ideas; promotes new ways of looking at processes.


Job Requisition ID:

4338

Job Category:

Servicing

Primary Location City:

Lewisville

Primary Location Region:

Texas

Primary Location Postal Code:

75067

Primary Location Country:

United States of America

Posting Organization:

Mr. Cooper

Line of Business:

Servicing

Additional Posting Location(s):


Alternate Requisition:

No