Job Details

Legal Staff Paralegal in Meriden, CT

This job is expired...

Company name

The Money Source Inc.

Organization Type


Job Type

Legal Staff

Practice Area

Real Estate

Years of Experience

Min 1 yrs required


Meriden, CT

Date Last Verified

Jun 26,2018

Posted on

Mar 15,2018

88 hits


Bankruptcy / Foreclosure Supervisor The candidate will be responsible for the direct supervision of the foreclosure and bankruptcy staff, as well as personally administering an assigned caseload of mortgage loans under the management of Default Servicing due to foreclosure, bankruptcy, defensive litigation, and/or real estate liquidation through an established network of attorneys, appraisers, property inspectors, and real estate brokers in accordance with state and federal guidelines. Will be responsible for ensuring proper adherence to Investor and Insurer policies, procedures, and timeframes in order to minimize risk, preserve and protect collateral and limit loan related expenses. This person is a subject matter expert on the foreclosure and bankruptcy processes. Default services policies and procedures outline by The Money Source Inc. Ensures implementation of department procedures to accommodate Investor and/or Insurer changes and updates. Monitor staff workload volumes to ensure proper coverage of all loans under management of the loss mitigation department. Evaluates individual staff performance and recommends merit increases, or disciplinary action, to the Director of Default Servicing. Documents all loan-level efforts into the Foreclosure and Bankruptcy Workstations in MSP. Reviews and updates the status of all assigned accounts in a timely and accurate fashion in accordance with Investor and Insurer guidelines. Coordinates with our attorneys and/or defaulted borrowers to maximize efficiency and timeliness of resolutions through reinstatements, payoffs, DIL, completed bankruptcy plans or foreclosure sale. Prepares relevant legal documents for execution by management, including Affidavits of Debt, Proofs of Claim, Reinstatement letters, etc. Maintains a thorough working knowledge of all foreclosure and bankruptcy requirements of all investors and insurers, as well as state and federal guideline updates. Review incoming expense invoices for accuracy and compliance with the established fees schedules of the Investors and/or Insurers. Performs such other duties as may be assigned by Director of Default Servicing or other management.

Qualification and Experience

The candidate should have Bachelor's Degree in business related field or a combination of education and experience in a collection call center/customer service/mortgage servicing environment. Paralegal experience is a plus.Must have extensive working knowledge of the foreclosure and bankruptcy processes and workflows and knowledge of CHFA/FHA, GNMA, FNMA, FHLMC, MI, and various other investor/insurer foreclosure and bankruptcy requirements. Excellent oral and written communication skill is essential. Microsoft Office proficiency (Word processing and spreadsheets, data entry, PC input, etc.) is essential. Familiarity with Investors' and PMI practices is essential. Residential and consumer product knowledge is essential. Loan servicing knowledge (investor, default, escrow, payoff, cashiering, ARM, etc.) is essential.

Company info

Hiring Coordinator
The Money Source Inc.
500 South Broad Street,
Suite 100A
Meriden, CT 06450