Rebecca McMinn
Oklahoma City,OK
Summary
Mortgage professional with 15 years of experience in FHA Default Servicing compliance, vendor management, property preservation, cost estimating, claims auditing, and interpreting policy and regulatory guidance based upon insurer policy as outlined in 24 CFR, HUD Handbook 4000.1, and Mortgagee Letters. Proficient in industry-standard software and systems such as Xactimate, P260, FHA Connection, MSP, and SFIS.
Overview
12
12
years of professional experience
Work History
Default Servicing III
Chickasaw Community Bank
9 2022 - 11.2023
- Managed lender's non-performing loan portfolio from initial default through conveyance to insurer for loan types FHA, 184, VA, USDA, GNMA, and FNMA/FHLMC
- Vendor management of attorney network and foreclosure/preservation subservicers regarding adherence to compliance parameters and due diligence timeframes
- Audited HUD 27011 Part B conveyance claims prior to claim submission to validate that all line items were both claimable and adequately supported
- Prepared and submitted legal documents to initiate court proceedings
- Reduced default risks for the company through effective management of troubled assets
- Streamlined workflow processes, optimizing efficiency in handling delinquent accounts
- Created and maintained multi-insurer compliance matrix and wrote comprehensive P&P training guidance and desk manual to educate and assist staff on property preservation fundamentals; evaluating property damage (i.e. identifying vendor neglect and insurable damage vs mortgagor neglect); identifying source of damages and appropriate mitigation actions; validating existing bids/writing new bid sheets with industry standard software; and accurately determining necessary scopes of work to place property in conveyance condition on a per insurer basis
- Prepared detailed reports on delinquency trends as well as individual account performance updates for senior management review for all non-performing portfolio loans, which included creating and implementing executable loan-level action plans for resolution of outstanding issues
Default Servicing- Preservation Lead
Rushmore Loan Management
04.2018 - 08.2020
- Oversight of all assigned portfolio loans from date of default through conveyance to validate vendor reporting and identify damages/surchargeable issues/Mortgagee neglect/ICC impediments
- Collaborated with legal teams to initiate foreclosure proceedings when necessary, protecting the company''s interests
- Bid requests/validation/revision and coordination with vendors to ensure to ensure all work completed to scope and ICC compliance with HUD regulations and local AHJ (i.e. outstanding violations, liens, etc)
- Assumed responsibility of escalated/large loss/neglect preservation issues
- Audited FHA portion of the company's Preservation manual to bring in line with insurer guidelines; revisions were incorporated into RLMS Servicing Business Rules resulting in reduced curtailment
- Compiled and analyzed data for review by senior management of loan loss reports to measure portfolio performance
- Provided support to internal teams, ensuring accurate reporting and compliance with regulatory requirements
- Trained new team members on company-specific best practices while mentoring them throughout their onboarding process
Appeals Supervisor
HUD Mortgagee Compliance Manager
03.2011 - 08.2017
- Rendered decisions on overallowable, surchargeable, reconveyance, and conveyance extension appeals for FHA claim review in accordance with HUD guidelines
- Evaluated potential reconveyance and bypass issues to ensure most cost effective course of action was followed
- Assisted in creating training materials for appeal review processes for new employees
- Reviewed 27011A and 27011B-D claims, preservation photos, and HPIR reports/photos; drafted demands for reimbursement and noncompliance letters as necessary.
- Evaluated staff performance and provided coaching to address inefficiencies
- Mentored junior staff members in their career development, sharing knowledge from years of experience in field
Claims Adjuster
Farmers Insurance Group
05.2008 - 03.2011
- Licensed Property and Casualty adjuster for property, auto, and commercial lines of business; processed new claims and completed policy documentation review to verify coverage for reported loss
- Rendered claim decisions within designated authority; assigned field adjuster and monitored for completion; reviewed field estimates to verify scope of work and issued appropriate payment, and monitored for scope completion/supplementary claims as needed.
- Developed strong relationships with repair vendors, ensuring quality service and fair pricing for clients in need of repairs
- Maintained compliance with state regulatory requirements through meticulous documentation and adherence to company policies
- Identified suspicious losses and contacted manager for investigative assistance
Skills
Regulatory Compliance and Policy Interpretation
undefinedTimeline
Default Servicing- Preservation Lead
Rushmore Loan Management
04.2018 - 08.2020
Appeals Supervisor
HUD Mortgagee Compliance Manager
03.2011 - 08.2017
Claims Adjuster
Farmers Insurance Group
05.2008 - 03.2011
Default Servicing III
Chickasaw Community Bank
9 2022 - 11.2023
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