Rushmore Loan Management Services

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Sr. Default Operations Specialist

Sr. Default Operations Specialist

Job ID 
Job Locations 
Regular Full-Time
FLSA Status 

More information about this job



The Senior Default Operations Specialist is responsible for monitoring, maintenance and implementation of acquisition transactions as well as any interfacing data exchanges of existing desktop configurations.   These duties support the ongoing servicing of foreclosure and bankruptcy events including key workflow processes in accordance with established work rules, goals & objectives to improve timeline and attorney performance.  The specialist will be responsible for all communications and reporting surrounding anticipated changes to the portfolio.



  • Adheres to proper MSP/Loansphere boarding protocol for acquired loans in foreclosure and/or bankruptcy through established conversion techniques and comparison of preliminary and final data files, obtaining necessary approvals for any costs associated with mapping or transfer.
  • Ensure that the monthly BK Acquisition Discharge report results are integrated to MSP for timely and accurate controls over prior discharged accounts.
  • Prepares Bulk Update/Bulk Loads to automate the mapping of Foreclosure milestones, add Foreclosure holds, audit rails.
  • Provides reconciliation reports to Loan Admin boarding team on each acquisition as it relates to defaulted loans and updated reporting to Default Operations Management Team.
  • Performs transfer of Counsel , notifying attorney firms of the transfer; launches the change rail and monitors completion from the firms.
  • Manages service release for default operations including all notifications to the attorneys in LPS
  • Compares active loss mitigation transferred holds to inflight schedule to reconcile out of balance conditions, correct deficiencies and ensure that loans eligible for a Loss Mitigation hold at transfer are properly setup.
  • Provides scheduled and ad hoc daily/weekly/monthly reports to Foreclosure and Bankruptcy Specialist and management. Also issues Records Outstanding request report to include sale dates, bar dates and hard dates (judgment hearing).
  • Monitor LoanSphere tasks and processes as assigned to ensure timely resolution, according to investor/insurer, state, and regulatory guidelines, while minimizing financial losses to the company.
  • Escalate or resolve timely any matters that may pose a risk to the company in accordance with established policies and procedures.
  • Assist as needed in on the job training/familiarization to new specialists within subject matter expertise for acquisitions and release management.
  • Accepts other duties as assigned.



  • Excellent verbal and written communication skills.
  • Demonstrate strong leadership and people skills.
  • Knowledge of Mortgage documents.
  • Ability to make decisions and to handle multiple tasks within established timeframes maintaining accuracy and quality.
  • Excellent organizational and time management skills while making sound judgment and accurate decisions.
  • Ability to independently solve complex problems.
  • Thoroughness and attention to detail is a must.
  • Knowledge of Real Estate/Loan documents, including loan closing and the foreclosure process.



  • Bachelor’s Degree preferred
  • High School Diploma required
  • Minimum four years mortgage servicing experience, strong knowledge of the types of foreclosure and bankruptcy configurations and expertise on the impact of foreclosure on a mortgage loan.


  • Highly proficient in Microsoft Office.
  • Familiar with LoanSphere and MSP/LPS workstations.

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