Regulatory Correspondence Specialist
Who we are
Shellpoint Mortgage Servicing (SMS) is one of America’s top-five non-bank mortgage-servicing companies. What is mortgage servicing? Our clients are businesses that own mortgage loans (such as banks and real estate investment firms). On their behalf, we manage (or "service") their loan portfolios, which means that we collect homeowners’ mortgage payments, pay their tax and insurance bills, and help homeowners in default to get current.
The Regulatory Correspondence Specialist is responsible for handling Qualified Written Requests and Disputes submitted to Regulatory agencies. The job will entail reviewing all escalated written inquiries, disputes and complaints from borrower’s or their authorized representatives, researching and resolving issues, and providing formal written responses within prompt deadlines. This position requires dealing and speaking directly to Regulatory Agencies and escalated borrowers to identify areas of issue and de-escalating the complaint or dispute.
Prepare complaint communications to Senior Leadership on all escalated and regulatory complaints. The Specialist must be able to explain the complaint clearly and document what corrective action plan SMS must make to resolve the issue. The Specialist must be able to advise and response to Executives concerning the details of the issue.
The position requires a working knowledge of all aspects of mortgage servicing operations, including payment processing, escrow, taxes and insurance, loan boarding, credit reporting, loss mitigation, foreclosure, etc., and be able to direct members of those departments in resolving issues quickly. The job will require continuous learning and keeping up-to-date with the Regulations related to the Real Estate Settlement Procedures Act (RESPA), Truth In Lending Act (TILA) the Fair Credit Reporting Act (FCRA), the Consumer Financial Protection Bureau (CFPB), and policies and procedures regarding Fraud/ID Theft.
- Correspond in writing and verbally with Regulatory Agencies (federal, state, and local level)
- Collaborate with internal departments to obtain complaint resolution and corrective action
- Prioritize and complete tasks according to escalated regulatory deadlines.
- Research issues to identify root causes and direct internal business owners a corrective action plan for resolution.
- Ensure the necessary actions/corrections are made to the accounts to resolve disputes, complaints and inquiries.
- Compose written responses to borrower’s (or their authorized representatives) providing final resolution to regulatory agencies.
- Communicate with Senior Leadership for all regulatory complaints and corrective actions
- Experience in Regulatory Affairs and/or Quality Assurance in mortgage servicing, previous complaint handling experience strongly preferred
- Ability to apply critical thinking and problem solving skills and to work collaboratively to find best solution.
- Excellence in communication via telephone and written communication.
- Demonstrated attention to detail and organizational skill.
- Proficient in Microsoft Office, Servicing Director, and Onbase Imaging software.
- Strong analytical, problem solving and mathematical skills to be used in directing decision-making.
- Strong understanding of Mortgage lending and servicing.
- Strong negotiation and follow-up skills, as well as the ability to meet strict deadlines.
- Experience in late stage mortgage collections, including handling modifications, short sales, and Deeds in Lieu of Foreclosure is a plus.
- Math and analytical skills needed
- Bachelor Diploma preferred
* Three weeks’ PTO (paid time off) for vacation and sick days.
* Paid holidays.
* Medical, dental, vision, life, and pet insurance.
* Short- and long-term disability insurance.
* Adoption- and tuition-assistance programs.
* 401k matching program.
* Performance-based annual bonuses.
* Advancement opportunities
Equal Employment Opportunity
We're proud to be an equal opportunity employer- and celebrate our employees' differences, including race, color, religion, sex, sexual orientation, gender identity, national origin, age, disability, and Veteran status. Different makes us better.
Job Status: Full Time
Job Reference #: R565