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- Tasks: Interpret and execute mortgage loan modifications while ensuring compliance and accuracy.
- Company: Join Selene Holdings, a dynamic financial services firm with a focus on client experience.
- Benefits: Enjoy paid time off, health benefits, and a matching 401(k) plan.
- Why this job: Make a real difference in the mortgage industry and enhance borrower experiences.
- Qualifications: 3 years of mortgage servicing experience and strong analytical skills required.
- Other info: Fast-paced environment with opportunities for growth and development.
The predicted salary is between 40000 - 50000 £ per year.
Selene Holdings is a multiple-lines business financial services firm with a mortgage servicing company, a loan diligence company, a title company, an insurance brokerage, and a real estate owned company. It has office locations in Dallas, TX, Jacksonville, FL, and Salt Lake City, UT. Founded in 2007 to address needs in the mortgage industry, Selene strives to provide amazing client and borrower experiences. A positive attitude coupled with proven creative thinking and actions are all attributes we seek in every one of our employees. If you want to make a difference, then Selene is the place for you!
The Modification Fulfillment Specialist is responsible for interpreting, validating, and executing all mortgage loan modification agreements in accordance with investor, regulatory, and internal servicing requirements. This role ensures accurate system updates, quality control reviews, and compliance with all GSE and non-GSE modification programs. The Specialist will work closely with Loss Mitigation, Bankruptcy, Cash, Investor Reporting, and Quality Control teams to ensure timely and accurate fulfillment of all modification types, including complex structures such as separate modifications, ARM modifications, partial claims, deferrals, and bankruptcy cramdowns.
Key Responsibilities- Review, interpret, and validate all executed modification documents to ensure terms are complete, accurate, and compliant with investor and regulatory requirements.
- Perform full financial reconciliation of loan terms, including capitalization of arrears, deferred balances, corporate advances, escrow shortages, and suspense activity.
- Update MSP with all modification terms, ensuring accuracy of new principal balance, interest rate changes (fixed, step-rate, ARM), payment adjustments, deferred balances, partial claim structures, maturity date changes.
- Validate that system calculated payments, amortization schedules, and ARM indices align with executed modification agreements.
- Process and validate modification types including standard and streamlined modifications, separate and ARM modifications, partial claims, mortgage loan deferrals, Bankruptcy cramdowns, HELOC modifications, BPL commercial modifications.
- Ensure compliance with FNMA, FHLMC, FHA, VA, USDA, and portfolio investor guidelines.
- Complete FHLMC settlement procedures and reporting requirements for applicable modifications.
- Perform quality checks on modification data to servicing systems and investor reporting.
- Research and resolve discrepancies related to loan terms, payment histories, escrow balances, and investor requirements.
- Utilize intermediate Excel skills (formulas, VLOOKUP, pivot tables, macros) to analyze data, validate calculations, and prepare reconciliation reports.
- Ensure all mod fulfillment activities meet required timelines and service level expectations.
- Minimum 3 years of mortgage servicing experience, with direct exposure to loan terms, payment structures, and investor guidelines.
- Minimum 2 years of MSP (Black Knight) experience, including loan setup, interpreting loan payment history, and loan term configuration.
- Strong understanding of mortgage loan structures, including fixed rate and adjustable rate mortgages (ARM functionality), separate modifications, HELOC structures, deferred balances, partial claims, corporate advance recovery rules, capitalization of arrears.
- Experience with bankruptcy related modifications, including cramdowns and plan terms.
- Ability to read and interpret complex mortgage documents.
- Intermediate Excel proficiency, including formulas, VLOOKUP, pivot tables, and macros.
- Strong analytical and reconciliation skills with high attention to detail.
- Ability to work independently and manage multiple priorities in a fast paced environment.
- Excellent written and verbal communication skills.
- Experience with FHA, VA, USDA, and portfolio investor modification programs.
- Working knowledge of FHLMC settlement procedures and GSE modification requirements.
- Experience with BPL commercial loan structures.
- Prior experience in Loss Mitigation, Investor Reporting, or Cash Reconciliation.
- Familiarity with CFPB, FCRA, and state level servicing regulations.
- Paid Time Off (PTO)
- Medical, Dental & Vision
- Employee Assistance Program
- Flexible Spending Account
- Health Savings Account
- Paid Holidays
- Company paid Life Insurance
- Matching 401(k) Plan
Modification Fulfillment Specialist in Wideopen employer: Selene Finance LP
Contact Detail:
Selene Finance LP Recruiting Team
StudySmarter Expert Advice 🤫
We think this is how you could land Modification Fulfillment Specialist in Wideopen
✨Tip Number 1
Network like a pro! Reach out to folks in the mortgage servicing industry, especially those who work at Selene Holdings. A friendly chat can open doors and give you insider info that could help you stand out.
✨Tip Number 2
Prepare for interviews by brushing up on your knowledge of mortgage loan structures and modification processes. We want to see that you know your stuff, so practice explaining complex terms in simple language.
✨Tip Number 3
Show off your Excel skills! Be ready to discuss how you've used formulas, VLOOKUP, and pivot tables in past roles. We love candidates who can analyse data and present it clearly.
✨Tip Number 4
Apply through our website! It’s the best way to ensure your application gets noticed. Plus, it shows us you're serious about joining the Selene team and making a difference.
We think you need these skills to ace Modification Fulfillment Specialist in Wideopen
Some tips for your application 🫡
Tailor Your Application: Make sure to customise your CV and cover letter for the Modification Fulfillment Specialist role. Highlight your mortgage servicing experience and any relevant skills that match the job description. We want to see how you can make a difference at Selene!
Show Off Your Skills: Don’t forget to showcase your intermediate Excel skills and any experience with loan modifications. Use specific examples from your past roles to demonstrate your analytical abilities and attention to detail. This is your chance to shine!
Be Clear and Concise: When writing your application, keep it clear and to the point. Use straightforward language and avoid jargon unless it’s relevant to the role. We appreciate a well-structured application that’s easy to read!
Apply Through Our Website: We encourage you to apply directly through our website. It’s the best way for us to receive your application and ensures you’re considered for the role. Plus, it shows you’re serious about joining our team!
How to prepare for a job interview at Selene Finance LP
✨Know Your Mortgage Stuff
Make sure you brush up on your mortgage servicing knowledge, especially around loan terms and modification types. Selene is looking for someone who can interpret complex documents, so be ready to discuss your experience with fixed and adjustable rate mortgages, as well as bankruptcy-related modifications.
✨Excel Skills are Key
Since the role requires intermediate Excel skills, practice using formulas, VLOOKUP, and pivot tables before the interview. You might be asked to demonstrate your analytical abilities, so having a few examples of how you've used Excel in past roles will definitely give you an edge.
✨Show Off Your Attention to Detail
This position demands high attention to detail, especially when it comes to validating modification documents and ensuring compliance. Prepare to share specific instances where your meticulous nature helped resolve discrepancies or improve processes in your previous jobs.
✨Communicate Clearly
Excellent written and verbal communication skills are a must for this role. Practice articulating your thoughts clearly and concisely, especially when discussing complex topics. You want to show that you can effectively communicate with various teams, from Loss Mitigation to Quality Control.