To review and evaluate options for mortgage loan retention, term revision or liquidation to mitigate loss for Navy Federal. To process bankruptcy impaired mortgage and equity loans by gathering and analyzing bankruptcy notifications, facilitating Proof of Claims, Motion for Relief and/or charge off. To set up and process Real Estate Owned (REO) files and properties, monitor progress and provides necessary status reports to management. To provide specialized servicing of mortgage loans identified as eligible for programs such as Short Sale and HAMP (Home Affordable Modification Program), while ensuring compliance with investor and insurer guidelines and program-specific regulations. To modify the terms of the loan, communicate changes to members and investors, close transactions in a timely manner, and facilitate the smooth transition to the newly agreed terms.
Responsibilities- Collect all required information and documents (e.g., income statements, pay stubs, assets, etc.); perform review for eligibility according to HAMP and/or Short Sale programs
- Complete foreclosure sales to ensure bid and investor guidelines are observed; manage and update system with loan payoffs and lien releases
- Contact/assign appropriate state attorney with the foreclosure referral letter and all applicable notification, payoff statements, Notes, Mortgage documents and Demands
- Determine mortgage loan retention or liquidation by reviewing available mortgage information; present recommendations to the Foreclosure Committee
- Evaluate income, expenses, debt, other monthly financial obligations, credit reports and titles to determine the financial status/ability of loan holder to pay; identify possible alternatives to foreclosure or charge-off
- Identify and review Chapter 13 and Chapter 7 bankruptcy filings to determine the potential for asset recovery
- Manage the mortgage loan modification process by coordinating efforts with relevant parties such as FNMA, FHLMC and Wells Fargo while ensuring compliance with investor requirements
- Review appraisal information to verify existing data and/or validate new information; work with vendors to assure an accurate appraisal is established in the case file
- Review loan terms with members, coordinate activities with vendors to ensure smooth transition to newly agreed terms and record modification documents with appropriate county
- Track loans in the Bankruptcy system of record and monitor loans to ensure system of record is accurate and up-to-date
- Update tracking database and online system; provide required reporting to investors as well as specialized reports on loan modifications to management
- Work with members and attorneys to discuss loss mitigation options; communicate with bankruptcy courts, trustees and other interested parties to ensure appropriate and timely action is taken
- Perform other duties as assigned
- Advanced skill maintaining accuracy with attention to detail and meeting deadlines
- Advanced verbal and written communication skills
- Effective word processing and spreadsheet software skills
Desired Qualifications
- Advanced knowledge of Navy Federal mortgage servicing system-of-record
- Advanced knowledge of Navy Federal products, services, programs, policies and procedures
Additional Information
Hours:
- Monday - Friday, 8:00AM - 4:30PM
Location:
- 820 Follin Lane, Vienna, VA 22180
- 5510 Heritage Oaks Drive, Pensacola, FL 32526
- 141 Security Drive, Winchester, VA 22602
Navy Federal provides much more than a job. We provide a meaningful career experience, including a culture that is energized, engaged and committed; and fierce appreciation for our teams, who are rewarded with highly competitive pay and generous benefits and perks.
Our approach to careers is simple yet powerful: Make our mission your passion.
- FORTUNE 100 Best Companies to Work For® 2025
- Yello and WayUp Top 100 Internship Programs
- Computerworld® Best Places to Work in IT
- Newsweek Most Loved Workplaces
- 2025 PEOPLE® Companies That Care
- Newsweek Most Trustworthy Companies in America
- Military Times 2025 Best for Vets Employers
- Best Companies for Latinos to Work for 2025
- Forbes® 2025 America’s Best Large Employers
- Forbes® 2025 America's Best Employers for New Grads
- Forbes® 2025 America's Best Employers for Tech Workers
- 2025 RippleMatch Campus Forward Award Winner for Overall Excellence
- Military.com Top Military Spouse Employers 2025
- 2025 Handshake Early Talent Award
From Fortune. ©2025 Fortune Media IP Limited. All rights reserved. Used under license. Fortune and Fortune Media IP Limited are not affiliated with, and do not endorse products or services of, Navy Federal Credit Union.
Equal Employment Opportunity: All qualified applicants will receive consideration for employment without regard to age, race, sex, color, religion, national origin, disability, veteran status, pregnancy, sexual orientation, genetic information, gender identity or any other basis protected by applicable law.
Accommodations: If you need accommodation or assistance for a qualifying condition to complete the online application (or during any stage of the hiring process), you can contact Navy Federal's Medical Accommodations team at [email protected] or by calling 1-888-503-6013. This team cannot provide any information on job postings or application status.
Disclaimers: Navy Federal reserves the right to fill this role at a higher/lower grade level based on business need. An assessment may be required to compete for this position. Job postings are subject to close early or extend out longer than the anticipated closing date at the hiring team’s discretion based on qualified applicant volume. Navy Federal Credit Union assesses market data to establish salary ranges that enable us to remain competitive. You are paid within the salary range, based on your experience, location and market position. For additional details regarding compensation and benefits, review the Benefits page of the Navy Federal Career Site.
Protect Yourself from Job Scams: Navy Federal Credit Union jobs are posted on our career site, jobs.navyfederal.org and reputable job boards (e.g., LinkedIn, Indeed). We do not post jobs on social media marketplaces, messaging apps or unverified websites. We will never ask candidates for payment, bank details or personal financial information during the hiring process.
Bank Secrecy Act: Remains cognizant of and adheres to Navy Federal policies and procedures, and regulations pertaining to the Bank Secrecy Act.
Navy Federal Credit Union Compensation & Benefits Highlights
The following summarizes recurring compensation and benefits themes identified from responses generated by popular LLMs to common candidate questions about Navy Federal Credit Union and has not been reviewed or approved by Navy Federal Credit Union.
-
Retirement Support — A pension alongside a strong 401(k) match and additional retirement programs makes long‑term value a standout element of the total package. This combination is positioned as a differentiator among private employers.
-
Healthcare Strength — Comprehensive medical, dental, and vision coverage is complemented by on‑site health services at major campuses. Wellness resources and typical offerings like an EAP broaden the health support available.
-
Parental & Family Support — Paid parental leave, plus adoption and surrogacy assistance, indicate meaningful support for growing families. Education assistance further extends family and life‑stage support.
Navy Federal Credit Union Insights
Similar Jobs
What We Do
Navy Federal Credit Union is the world's largest credit union with over 12 million members, over $160 billion in assets and over 22,000 employees. As a credit union, we have members, not customers. At our campuses in Vienna, VA, Pensacola, FL and Winchester, VA, and in our more than 350 branches, we serve the men and women of the Armed Forces, Department of Defense, veterans and their families. We deliver world-class service, rooted in the belief that it is an honor and privilege to serve our members. We are committed to providing our members outstanding financial products and services. Navy Federal offers a career, not just a job. We are proud of the robust Total Rewards package we offer to our employees, including competitive salaries, incentive programs, comprehensive medical, dental and vision benefits, retirement plans with employer match, award-winning training programs, professional development programs, tuition assistance, paid leave, and work/life programs. Federally insured by NCUA. Equal opportunity employer. Android™ is a trademark of Google, Inc. iPhone® is a registered trademark of Apple, Inc. iPad® is a registered trademark of Apple, Inc. App Store(SM) is a service mark of Apple, Inc. Message and data rates may apply. FORTUNE and 100 Best Companies to Work For are registered trademarks of Time Inc., and are used under license. FORTUNE and Time Inc., are not affiliated with, and do not endorse products or services of, Navy Federal Credit Union. For more info, visit navyfederal.org
