Job Details

Foreclosure Specialist

Company name

The Money Source Inc.

Organization Type


Job Type

Legal Staff

Date Last Verified

Feb 19,2019

Valid Through

Jun 04,2019

Posted on

Feb 08,2019


Meriden, CT, United States

Employment Type



Practice Area
Bankruptcy >> Bankruptcy
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Foreclosure Specialist
The candidate is responsible for ensuring proper adherence to investor and insurer policies, procedures and time frames in order to minimize risk, preserve and protect collateral and limit loan related expenses. Documents all loan-level efforts into the Foreclosure 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 attorneys and/or defaulted borrowers to maximize efficiency and timeliness of resolutions through reinstatements, payoffs, DIL or foreclosure sale. Prepares relevant legal documents for execution by management, including Affidavits of Debt, Reinstatement letters, etc. Maintains a thorough working knowledge of all foreclosure 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 Foreclosure/Bankruptcy Supervisor or other management.

Qualification and Experience

The candidate must have extensive working knowledge of the foreclosure process and workflows. Knowledge of CHFA/FHA, GNMA, FNMA, FHLMC, MI and various other investor/insurer foreclosure requirements is needed. Excellent oral and written communication skills are must. Microsoft Office proficiency (Word processing and spreadsheets, data entry, PC input, etc.) is required. Familiarity with investors’ and PMI practices is essential. Residential and consumer product knowledge is necessary. Loan servicing knowledge (investor, default, escrow, payoff, cashiering, ARM, etc.) is must. Effective negotiating skills are needed. Bachelor’s Degree in business-related field or a combination of education/experience is necessary. Paralegal experience is a plus.

Company info

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

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