Late Stage Default Specialist

SUMMARY:

The Late-Stage Default Specialist is responsible for managing all aspects of default servicing activities related to foreclosure, investor claims, property preservation, Bankruptcy, and REO. This role ensures compliance with investor, insurer, regulatory, and internal servicing guidelines while minimizing loss severity and protecting asset value.

JOB DUTIES AND ESSENTIAL FUNCTIONS:

• Manage the end-to-end foreclosure process, including referral, milestone tracking, and timeline adherence.
• Coordinate with foreclosure attorneys, trustees, and vendors to ensure timely progression of files.
• Review and approve foreclosure actions, including pleadings, sales, and postponements.
• Monitor key deadlines to maintain compliance with investors (Fannie Mae, Freddie Mac, FHA, VA, USDA) and state-specific requirements.
• Analyze delinquent loan portfolios and recommend appropriate default strategies (foreclosure, modification, deed-in-lieu, etc.).
• Prepare, review, and submit timely and accurate insurance and investor claims (FHA, VA, MI, GSE, and private investors)
• Validate all eligible expenses, advances, and loss calculations to maximize recoveries.
• Audit claim packages for compliance with investor and insurer guidelines.
• Track claim status and follow up on deficiencies, adjustments, or denials.
• Reconcile claim proceeds and ensure proper application of funds.
• Oversee property inspection, maintenance, and preservation activities for delinquent and REO properties.
• Manage vendors responsible for securing, winterizing, repairing, and maintaining properties.
• Review and approve preservation work orders, bids, and invoices for accuracy and compliance.
• Ensure property conditions meet investor and insurer guidelines, including conveyance condition requirements.
• Monitor occupancy status and coordinate eviction processes when necessary.
• Ensure adherence to all federal, state, and investor regulations, including CFPB, HUD, VA, and GSE servicing guidelines.
• Maintain accurate documentation and audit-ready files.
• Identify and mitigate operational risks related to foreclosure timelines, claim curtailments, and preservation costs.
• Assist with tracking, evictions, and maintenance of REO properties
• Support internal and external audits by providing documentation and responding to inquiries.
• Track and report key performance metrics (timelines, claim recovery rates, preservation costs, etc.).
• Analyze trends and identify opportunities to reduce losses and improve operational efficiency.
• Provide regular status updates to management and stakeholders.

KEY COMPETENCIES:

• Strong knowledge of mortgage servicing practices, loss mitigation options, and bankruptcy processes.
• Excellent communication and negotiation skills.
• Ability to analyze financial information and make sound decisions.
• Strong attention to detail and organizational skills.
• Ability to manage a high-volume workload in a fast-paced environment
• Proficiency with servicing platforms and Microsoft Office (Excel, Word, Outlook).

WORKING CONDITIONS:

• Standard office environment
• Primarily office-based with some remote work as needed
• Standard business hours with occasional overtime during peak periods
• Fast-paced, deadline-driven environment requiring attention to detail and accuracy
• Frequent interaction with internal departments, vendors, and borrowers via phone, email, and virtual meetings
• Exposure to confidential and sensitive financial information requires strict adherence to data security and privacy policies

PHYSICAL DEMANDS:

• Prolonged periods of sitting at a desk and working on a computer
• Occasional walking, standing, bending, squatting, reaching, and twisting.
• Frequent use of hands and fingers for keyboarding and document handling
• Ability to view computer screens for extended periods of time
• Ability to communicate effectively via phone and video conferencing (hearing and speaking clearly)
• Ability to lift small office items (e.g., files, documents, laptops) up to 10–15 pounds, if necessary

Qualifications

MINIMUM REQUIREMENTS:

• Bachelor’s degree in business, Finance, or related field (or equivalent work experience).
• 3–5+ years of experience in mortgage servicing, with a focus on foreclosure, claims, and/or property preservation.
• Strong understanding of default servicing processes and investor guidelines (Fannie Mae, Freddie Mac, FHA, VA, USDA)

PREFERRED REQUIREMENTS:

•  3-5+ years of experience providing claims analysis

• Ability to manage, evaluate, and report on attorney network for foreclosure processing

Disclaimer: This job description is not designed to cover or contain a comprehensive listing of activities, duties or responsibilities that are required of the employee. Duties, responsibilities, and activities may change, or new ones may be assigned at any time with or without notice.

We are an Equal Opportunity Employer

TexasBank is committed to providing equal employment opportunities regardless of race, creed, color, religion, alienage or national origin, ancestry, citizenship status, age, disability or handicap, sex, marital status, veteran status, sexual orientation, genetic information, arrest record, or any other characteristic protected by applicable federal, state or local laws. This policy applies to all terms and conditions of employment, including, but not limited to, recruiting, hiring, placement, promotion, compensation, benefits, training, disciplinary actions, layoff, recall, transfer, leaves of absence, and termination. Employees with questions or concerns about any type of discrimination in the workplace are encouraged to bring these issues to the attention of Human Resources.