Loan Assistant
Salary undisclosed
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- Reviews and evaluates the borrower’s ability (or lack thereof) to reinstate a delinquent loan as well as the borrower’s potential to repay the loan.
- Conducts audits of loan servicers’ adherence to VA regulations and guidelines as they relate to the following work processes: Servicer completed workout and loss mitigation options and Servicer completed loan modifications
- Reviews servicer completed “Net Value” determinations to ensure compliance with VA established calculation requirements and credit to Veterans’ accounts.
- Reviews claims under guaranty (initial, appealed, and supplemental) and the transfer of custody and recommends approval of payments.
- Analyzes post audits to determine if payments were appropriate. In the event a holder fails to comply with the regulations governing liquidation of a guaranteed loan through negligence or mistake.
- Follows-up on title documents concerning loans being acquired by VA under 38 CFR 36.4318. Reviews title documents for accuracy and completeness and forwards completed package with recommendation to VA’s legal counsel final approval.
- Instruct services/holders on VA requirements for servicing delinquent VA accounts and procedures to be followed in establishing repayment and forbearance plans.
- Advises on VA requirements for initiating foreclosures, termination by voluntary deeds-in-lieu of foreclosure, processing compromise “short” sales, completing modification agreements, VA Purchases under 38 CFR 36.4318, and the filing of claims.
- Communicates clearly and competently with Veterans, real estate attorneys, mortgage banking industry professionals, and services/holders in discussing VA regulations and procedures and their effects on home retention options.
- If conducted at less than the full performance level, duties will be developmental in nature.
Starting at $49,025 Per Year (GS 7)
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