Special Products Senior Specialist

Loan Administration at Valon

The Loan Administration team at Valon powers our operations and ensures we continue to run smoothly. We onboard loans, handle insurance, process payments, and offer a first-class experience to Valon's homeowners from behind the scenes.

Valon’s Special Loans Team is responsible for managing core business processes for MERS updates and reconciliation, SCRA-protected loans, recasts, successor in interest, and partial release requests. We are a team of creative individuals who approach servicing challenges with an innovative mindset. Our goal is to help homeowners resolve special servicing needs while providing a first-class experience with Valon, all from behind the scenes.

About the Role

As a key player behind the scenes, the Special Products Specialist is responsible for overseeing SCRA-protected loans, coordinating recasts, processing assumptions, managing successor in interest transactions, and handling partial release requests. The ideal candidate brings a strong background in financial services, particularly in loan servicing or mortgage operations, and possesses expertise in navigating complex loan transactions while ensuring compliance with relevant regulations such as the Servicemembers Civil Relief Act (SCRA). The role requires creative problem-solving skills, an innovative mindset to approach servicing challenges, and effective collaboration with cross-functional teams. The Special Products Specialist plays a crucial role in providing a first-class experience for homeowners with special servicing needs, contributing to the overall success and efficiency of Valon's operations.

Responsibilities

• Oversee and handle loans protected under the Service members Civil Relief Act (SCRA).
• Ensure compliance with SCRA regulations and guidelines in loan management processes.
• Handle and coordinate loan recast processes, which may involve adjusting the terms of the loan, such as the monthly payment amount or the interest rate.
• Facilitate and process loan assumptions, where a new borrower takes over an existing loan with the approval of the lender.
• Manage successor in interest transactions, involving the transfer of the loan obligation to a new party due to various circumstances such as inheritance or divorce.
• Evaluate and process requests for partial release of collateral, which may involve releasing a portion of the property from the mortgage lien.
• Work closely with other teams within Valon, such as customer service, legal, and loan origination, to ensure smooth and efficient handling of special servicing needs.
• Stay updated on industry regulations and guidelines, especially those related to special loan servicing, to ensure compliance in all processes.
• Strive to provide a first-class experience for homeowners with special servicing needs, even though the role is behind the scenes.
• Maintain accurate and thorough documentation of all special servicing transactions.
• Keep detailed records of communication and actions taken for audit and compliance purposes.
• Identify opportunities for process improvements within the Special Products Team and contribute to enhancing overall operational efficiency.
• Interact with homeowners via inbound & outbound telephone calls, and emails regarding loan status

Ideal Background

• 2-3 years experience in financial services, particularly in loan servicing or mortgage operations.
• Familiarity with special loan products and an understanding of regulatory requirements, especially those related to SCRA-protected loans.
• Demonstrated expertise in managing complex loan transactions, including recasts, assumptions, successor in interest, and partial release requests.
• Knowledge of loan documentation, terms, and conditions, with a track record of accurate and compliant processing.
• In-depth understanding of relevant regulations, such as the Service members Civil Relief Act (SCRA) and other laws governing special loan servicing.

Minimum Qualifications

• Experience ensuring compliance with industry regulations and implementing processes to meet legal requirements.
• Proven ability to approach servicing challenges with creativity and innovation, finding effective solutions for unique and complex loan scenarios.
• Strong problem-solving skills and the ability to adapt to changing circumstances while maintaining a focus on customer satisfaction.
• Excellent communication skills, both written and verbal, to effectively interact with internal teams and external stakeholders.
• Demonstrated ability to collaborate with cross-functional teams, including customer service, legal, and loan origination, to achieve common goals.

Location

• Onsite

Benefits

• Compensation: Competitive salary and a 401(k) plan—with a 4% annual match!
• Hours: No weekends or late nights required!
• Generous amount of paid time off: 17 days of paid time off, 5 additional paid sick days, and 11 paid company holidays!
• Health & well-being: We’ll invest in your physical and mental well-being with comprehensive, low-cost medical, dental, & vision benefits, and an EAP for additional support!
• Food & meals: In-office snacks and drinks (and Bagel Fridays)!
• Grow together: We set new employees up for success with our company-wide New Hire Orientation! Other learning and development opportunities include quarterly possibilities for promotion and annual performance reviews.
• Baby bonding time: Birthing and non-birthing parents receive 12 weeks of FULLY PAID time off to focus on their new addition(s)!