Modification Fulfillment Specialist
WFA Digital Insight
The demand for mortgage servicing professionals has been on the rise, with a 25% increase in job postings over the past year. As the industry continues to evolve, companies like Selene are looking for skilled specialists to navigate complex loan modifications. With the remote job market booming, this role offers a unique opportunity to work with a multiple-lines business financial services firm. Candidates should be prepared to showcase their analytical and problem-solving skills, as well as their expertise in mortgage loan structures. Before applying, it's essential to understand the current state of the mortgage industry and the importance of compliance with investor and regulatory requirements.
Job Description
About the Role
The Modification Fulfillment Specialist plays a critical role in Selene's mortgage servicing operations, responsible for interpreting, validating, and executing loan modification agreements. This involves working closely with various teams, including Loss Mitigation, Bankruptcy, and Quality Control, to ensure timely and accurate fulfillment of modification types. The role requires a strong understanding of mortgage loan structures, including fixed-rate and adjustable-rate mortgages, as well as experience with investor guidelines and regulatory requirements.The ideal candidate will have a minimum of 3 years of mortgage servicing experience, with direct exposure to loan terms, payment structures, and investor guidelines. They will also have intermediate Excel skills, including formulas, VLOOKUP, and pivot tables, to analyze data and prepare reconciliation reports.
As a key member of the team, the Modification Fulfillment Specialist will be responsible for ensuring compliance with GSE and non-GSE modification programs, as well as completing FHLMC settlement procedures and reporting requirements.
What You Will Do
- Review and interpret 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, and corporate advances
- Update MSP with all modification terms, ensuring accuracy of new principal balance, interest rate changes, and payment adjustments
- Validate system-calculated payments, amortization schedules, and ARM indices against executed modification agreements
- Process and validate modification types, including standard and streamlined modifications, separate and ARM modifications, partial claims, and mortgage loan deferrals
- Ensure compliance with FNMA, FHLMC, FHA, VA, and USDA guidelines
- Complete quality checks on modification data to servicing systems and investor reporting
- Research and resolve discrepancies related to loan terms, payment histories, and investor requirements
- Utilize Excel to analyze data, validate calculations, and prepare reconciliation reports
What We Are Looking For
- 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
- Experience with bankruptcy-related modifications, including cramdowns and plan terms
- Ability to read and interpret complex mortgage documents
- Intermediate Excel proficiency, including formulas, VLOOKUP, and pivot tables
- Strong analytical and reconciliation skills with high attention to detail
- Ability to work independently and manage multiple priorities in a fast-paced environment
Nice to Have
- Experience with FHA, VA, USDA, and portfolio investor modification programs
- Working knowledge of FHLMC settlement procedures and GSE modification requirements
- Experience with mortgage loan origination systems
Benefits and Perks
- Competitive salary and benefits package
- Opportunity to work with a multiple-lines business financial services firm
- Collaborative and dynamic work environment
- Professional development and growth opportunities
- Remote work options and flexible scheduling
How to Stand Out
- Develop a strong understanding of mortgage loan structures and investor guidelines to stand out as a candidate
- Showcase your analytical and problem-solving skills through specific examples in your resume and cover letter
- Familiarize yourself with MSP (Black Knight) and other mortgage loan servicing systems to demonstrate your technical skills
- Be prepared to discuss your experience with complex loan modifications and bankruptcy-related cases
- Highlight your attention to detail and organizational skills, as these are critical in this role
- Research Selene's company culture and values to demonstrate your enthusiasm for the position and the company
This is a remote position listed on WFA Digital, the platform for professionals who work from anywhere. Browse more remote jobs across all categories.