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HomeStreet Bank Default Reporting Specialist, Single Family Operations (Federal Way, WA) in Federal Way, Washington

EO/AA Employer including Vets and DisabledQualified applicants with arrest and conviction records will be considered in accordance with legal requirements.Job Description SummaryThis position will have two main functions: Default Reporting - Responsible to ensure accurate and regular monthly reporting of default loan statuses by the loan servicing division while maintaining compliance with all agency, investor and insurer guidelines and timeframes. Credit Reporting - Responsible to ensure accurate and regular reporting of loan statuses to the credit bureaus by the loan servicing division. Reviewing and resolving any customer disputes.Job DetailsPRIMARY FUNCTIONS:Default Reporting:Ensure all loans in delinquency are being coded efficiently and accurately so that all assigned Single Family mortgage and consumer loans reach an appropriate and timely resolution. Toward that end, the specialist is expected to:Develop and maintain thorough awareness of FHA, VA, conventional, FHLMC, FNMA and private mortgage insurance default reporting guidelines.Develop and maintain a thorough awareness of the systems and vendors used by the Loan Servicing division to process loans, particularly in regards to default reporting.Develop and maintain understanding of HomeStreet's delinquency resolution procedures to include a thorough understanding of Bankruptcy, Foreclosure, Escrow, Loss Mitigation and Real Estate Owned (REO) processes.Be directly responsible for performing all necessary monthly and annual audits to ensure the accuracy of default reporting which includes validation of reporting between the Loan Servicing system and third party vendors, researching and resolving discrepancies and documenting corrections, as applicable. Responsible for ensuring compliance with directives, both verbal and electronic, from regulatory agencies.Resolve all default reporting issues escalated from the Loan Servicing staff, borrowers and management.Work cooperatively with all other HomeStreet staff and departments to ensure customers receive the highest level of service possible.Monthly review of delinquent loans with Private Mortgage Insurance, ensuring the loan reports with correct reason codes and occupancy status.Works with loan servicing staff to manage changes to investor reporting guidelines.Reviewing of investor scorecard to help maintain accuracy on reporting.Review loan level data through the investor site to verify accurate reporting monthly.Track HUD loans that are service transferred, waiting on endorsement, or uninsurable. Update or block reporting as needed.Other duties as assignedCredit Reporting:Ensure all loans are being correctly and regularly reported to the credit bureaus. Toward that end, the specialist is expected to:Develop and maintain thorough awareness of all relevant credit reporting laws, investor and insurer guidelines and management directives.Develop and maintain a thorough awareness of the systems and vendors used by the Loan Servicing division to process loans, particularly in regards to credit reporting.Develop and maintain at least a basic understanding of HomeStreet's delinquency resolution procedures to include a good understanding of the loss mitigation and real estate owned (REO) processes.Validate and ensure accurate reporting between the Loan Servicing system and the credit bureaus, researching and resolving discrepancies and documenting corrections, as applicable.Use their experience, job knowledge and good judgment to receive and resolve all credit reporting disputes escalated from the loan servicing staff and management.Identify and analyze any procedural issues raised by loan servicing staff and management or from the implementation of new laws or changes to industry practices.Make procedural recomm

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