Pre-foreclosure Borrower Advocate Ii

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Pre-Foreclosure Borrower Advocate II
Responsibilities: Conducts a thorough review to ensure that a loan satisfies all the technical restrictions required for foreclosure referral when the administrator submits the referral package. Reviews each loan file for evidence of borrower responsiveness to collection and Loss Mitigation efforts exerted by Cenlar, and for evidence of sincere cooperation in the effort to establish a successful foreclosure avoidance alternative. Reviews Loss Mitigation activity for breaches of modifications for technical (non-substantive) reasons. Examines the loan for borrower cooperation in establishing modifications, and responsiveness in making trial payments. Examines Loss Mitigation loan documentation for accuracy, completeness, and compliance with investor/insurer guidelines. Reviews Loss Mitigation process for all FHA/VA/CONV/GSE loans to ensure compliance with federal/state regulations. Assesses exceptions identified in Loss Mitigation inventory. Reviews servicing notes for information relating to the cause of the borrower’s hardship, and whether the foreclosure avoidance options being considered properly correlate to the reasons for default. Reviews collections call records for borrower offers to make payments or inquiries about payment arrangements and evidence of miscommunication or failure to clearly identify opportunities or constraints to borrowers. Monitors the procurement of documents necessary to underwrite loss mitigation work outs directly working with the Loss Mitigation team. Verifies borrower information received and works directly with Loss Mitigation team regarding escalated items. Communicates and coordinates with multiple departments in Servicing Operations (both internal and external) to ensure they are informing the borrower of current status, options, and next steps. Works closely with Default Compliance Manager for any payment, escrow or some other kind of servicing dispute between the borrower and Cenlar and ensures the issue has been resolved or the borrower is no longer cooperating to our requests before the loan is referred. Serves as a final control to determine whether the borrower(s) are eligible for SCRA protection if there is a positive hit on the DOD website or any notes indicating a correlation between the default and the borrower(s) military obligation. Tracks and reports all Borrower Advocate activity each month through the Borrower Advocate Report and works with the Business Analyst to identify trends related to referral rejections, holds and approvals. Trains and monitors activity from new Borrower Advocates in a timely fashion. Assists with audits applicable to findings attributed to the referral process. Assists with revisions and provides necessary input to the reviewer checklist. Maintains State Guide Matrix to ensure current state pre-requisites are included and existing information is compliant with applicable law. Refers all eligible loans into foreclosure within applicable deadlines and guidelines to avoid monetary risks from investor and/or client findings.

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