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Contract Recovery Specialist II

Location: Lewisville, TX, United States
Req ID: 015367

Job Description

Description

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Ready to be a Cooper too? This might just be right up your alley!

We’re here to keep the dream of home ownership alive. Oh, and while we’re at it, we’re determined to change the lending industry itself. It’s simple, but it won’t be easy. And we’ll need a great team behind us. (That’s where you come in.) We want to show the world that transparency, candor and collaboration aren’t just good values. They’re good business. Working here isn’t for people who want to punch a clock. It’s for people who want to punch a hole in the status quo. Come join us. And make a difference instead of just a living.

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.

Mr. Cooper is committed to nurturing a diverse and inclusive environment where every employee is empowered to be their authentic self.  We know that a large part of our success as a business is directly tied to our ongoing efforts to attract and retain diverse talent and maintain an inclusive environment where each employee can thrive.  Embracing and leveraging diversity through an inclusive work environment fosters new ideas, new insights, and constant innovation.  We strive to weave the principles of diversity and inclusion throughout the fabric of how we work, how we interact, and how we engage with our customers and the community.

Job Requisition ID:

015367

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

Summary

Responsible for reviewing contracts, identifying all potential bill-back items and recovering or minimizing losses associated with Servicing activities including Claims and Repurchase.
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