Regulatory Correspondence Specialist III

Role Overview

• The Regulatory Correspondence Specialist III is accountable for handling Qualified Written Requests and Disputes submitted to Regulatory agencies.
• Review all escalated written inquiries, disputes, and complaints from borrowers or their authorized representatives.
• Research and resolve issues, and provide formal written responses within prompt deadlines.
• Deal and speak directly to Regulatory Agencies and escalated borrowers to identify areas of their issue and de-escalate the complaint or dispute.
• Work with various department leaders within the company to investigate and resolve issues for the consumer.
• Responsible for the outreach and communication to consumers when needed after the complaint is received.
• Communicate in writing with a synopsis of the complaint/resolution to executives and senior leadership in a professional manner.
• Conduct meetings for root cause discussions, as needed.
• Monitor the mailbox and web portals to ensure complaints are logged within 24 hours of receipt and responded to within deadlines.
• Handle legal risk complaints such as bankruptcy, foreclosure, allegations of UDAPP, attorney complaints, monetary compensation, threatening lawsuits, etc.
• Update and maintain the database for written complaints with details for tracking and reporting purposes.
• Collaborate with internal departments to obtain complaint resolution and corrective action.
• Liaise between Legal and Clients, when needed.
• Correspond in writing and verbally with Regulatory Agencies (federal, state, and local level).
• Prioritize and complete tasks according to escalated regulatory deadlines.
• Research the consumer’s loan to determine the problem and next steps toward resolution.
• Identify root causes and direct internal business owners a corrective action plan for resolution to prevent future complaints.
• Make outbound calls to discuss resolution and confirm satisfaction with the consumer.
• Ensure the necessary actions or corrections are made to the accounts to resolve disputes, complaints, and inquiries.
• Compose written responses to borrower’s (or their authorized representatives) providing final resolution to regulatory agencies.
• Provide guidance to other team members to resolve complaints.
• Review written responses from other writers to ensure accuracy of information, response addressing the complaint content, and clarity of information provided.
• Assist leadership with follow-up escalations or provide additional information to the Examiners.
• Provide daily reporting on the open regulatory complaints.
• Mentor and train Regulatory Correspondence Specialists I and II.
• Communicate with Senior Leadership for all regulatory complaints and corrective actions.
• Become a subject matter expert in at least two main areas of Homeowner Advocacy Dispute classes.

Requirements

• High school diploma or equivalent, required.
• Bachelor’s degree, preferred.
• 5+ year of Mortgage Servicing experience.
• Experience in Regulatory Affairs and/or Quality Assurance in mortgage servicing, previous complaint handling experience strongly preferred.
• Experience in late-stage mortgage collections, including handling modifications, short sales, and Deeds in Lieu of Foreclosure is a plus.
• At least 2 years demonstrated quality (no less than 95% quality scores) and productivity performance (no less than 12 resolutions per day average), in the Homeowner Advocacy Department.
• Ability to apply critical thinking and problem-solving skills to work collaboratively to find the best solution.
• Strong verbal and written communication skills with professional use of grammar, spelling, punctuation, and sentence structure.
• Demonstrated attention to detail and organizational skill.
• Superior work ethic
• Proficient in Microsoft Office, Servicing Director, and OnBase Imaging software.
• Analytical, problem solving, and mathematical skills with the ability to gain agreement from multiple levels of the organization and reach sound decisions.
• Strong negotiation and follow-up skills, as well as the ability to meet strict deadlines.
• Comprehensive knowledge of all aspects of mortgage servicing industry, including payment processing, escrow, taxes, insurance, loan boarding, credit reporting, loss mitigation, foreclosure, bankruptcy, etc.
• Ability to multi-task without sacrificing quality, as well as quickly adapt to changing work assignments.
• Requires continuous learning and keeping up to date with the Regulations related to the Real Estate Settlement Procedures Act (“RESPA”), Truth in Lending Act (“TILA”) the Fair Credit Reporting Act (“FCRA”), the Consumer Financial Protection Bureau (“CFPB”), and policies and procedures regarding Fraud/ID Theft.

Benefits

• Medical, dental, and vision insurance
• Health Savings Account with employer contribution
• 401(k) Retirement plan with employer match
• Paid Maternity Leave/Parental Bonding Leave/Caregiver Leave
• Adoption Assistance
• Tuition & Certification reimbursement
• Employee Mortgage Loan Program
• The Newrez Employee Emergency and Disaster Fund is a program to support our team members experiencing hardships
• 1 company-paid Volunteer Time Off day (with over 40,000 volunteer hours contributed since our inception)
• Matching Gifts Program
• dollar-for-dollar up to $1,000
• Access to grants, nonprofit resources, and volunteer opportunities
• More than $6,000,000 donated since 2020
• 1 in 5 employees participates in at least one Employee Resource Group (ERG)