Modification Fulfillment Specialist

This is a fully remote position, open to applicants in Florida, +2 more states.

📋 Description

• Review, analyze, and confirm all executed modification documents to guarantee that the terms are complete, accurate, and comply with investor and regulatory standards.

• Conduct comprehensive financial reconciliation of loan terms, which includes the capitalization of arrears, deferred balances, corporate advances, escrow shortages, and suspense activities.

• Update the MSP with all modification terms, ensuring the accuracy of the new principal balance, interest rate adjustments (fixed, step rate, ARM), payment modifications, deferred balances, partial claim structures, and changes to maturity dates.

• Validate that system-calculated payments, amortization schedules, and ARM indices are consistent with the executed modification agreements.

• Process and verify modification types, including standard and streamlined modifications, separate and ARM modifications, partial claims, mortgage loan deferrals, bankruptcy cramdowns, HELOC modifications, and BPL commercial modifications.

• Ensure adherence to FNMA, FHLMC, FHA, VA, USDA, and portfolio investor guidelines.

• Complete FHLMC settlement procedures and reporting obligations for relevant modifications.

• Conduct quality checks on modification data within servicing systems and investor reporting.

• Investigate and resolve discrepancies related to loan terms, payment histories, escrow balances, and investor requirements.

• Utilize intermediate Excel capabilities (formulas, VLOOKUP, pivot tables, macros) to analyze data, validate calculations, and generate reconciliation reports.

• Ensure that all modification fulfillment activities adhere to required timelines and service level expectations.

⛳️ Requirements

• A minimum of 3 years of experience in mortgage servicing, with direct involvement in loan terms, payment structures, and investor guidelines.

• At least 2 years of experience with MSP (Black Knight), encompassing loan setup, interpretation of loan payment history, and loan term configuration.

• A solid understanding of mortgage loan structures, including fixed-rate and adjustable-rate mortgages (ARM functionality), separate modifications, HELOC structures, deferred balances, partial claims, and corporate advance recovery rules, along with capitalization of arrears.

• Experience in handling bankruptcy-related modifications, including cramdowns and plan terms.

• Capability to read and interpret complex mortgage documents.

• Intermediate proficiency in Excel, including the use of formulas, VLOOKUP, pivot tables, and macros.

• Strong analytical and reconciliation capabilities with a keen attention to detail.

• Ability to work autonomously and manage multiple priorities in a fast-paced environment.

🏝️ Benefits

• 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