Best Execution Specialist

About the role

The Spec, Default Best Exc. is responsible for performing all day-to-day activities related to recommending the best financial strategy on defaulted loans and acquired properties serviced by Freedom Mortgage.

Responsibilities

• Review vacant FHA and VA loans prior to foreclosure sale for advance disposition decisioning should property be acquired by Freedom at foreclosure sale.
• Also review newly vacant FHA post-sale properties managed through the conveyance process for same disposition determination.
• This entails gathering all information necessary for review and keying into a Disposition Model for estimation of financial gain or loss to Freedom Mortgage.
• Recommend resolutions which will enable Freedom to recover the max amount of funds in a swift manner.
• Review of investor/insurer claims paid on properties moved into REO as part of continued process to validate and QC model logic.
• Provide feedback on changes to Disposition Model as the result of corporate initiatives, investor/insurer guidelines or allowables, observed trends or other circumstances that warrant updates to the Model.
• Research the request and reason for charge off.
• Develop written recommendation for charge off.
• Present charge off/low balance loan recommendation to Default leadership team for approval.
• Submission of charge off recommendations to investors per guidelines.
• Systematic processing of charge off or approved outcome on all loans reviewed.
• Research and analysis of high-risk circumstances with understanding of how the risk impacts borrowers, Freedom Mortgage, investors/insurer, default timelines, etc.
• Timely management of high-risk circumstances to mitigate losses.
• If applicable, determine the most effective way to recover the max amount of funds in a swift manner and monitor execution.
• Formulate chronologies and recommendation for presentation to Default leadership.
• Maintain regular and punctual attendance.
• Performs other related