More on Foreclosure File Reviewers

A simple google search for "foreclosure file reviewer" turns up a bunch of interesting things, including who is searching, what Level 2 means (as opposed to Level 1 or Level 3) and the involvement of Promontory, a financial services consulting firm headed by a former Comptroller of the Currency:

(1) The first ad, for Newark, was almost assuredly for BoA.  Here's another one for Newark (this time for Level 3--that's big time), and it references BAC proprietary mods guidelines.  That wouldn't be relevant unless it's work for BAC.

What's particularly interesting about this ad is that it references "Promontory/OCC guidelines." Promontory is a financial services consulting firm headed by former Comptroller of the Currency Eugene Ludwig. It's unclear to me why Promontory, rather than OCC alone should be making the guidelines here. Is this a matter of OCC outsourcing regulation or of the banks hiring Promontory to tell them what they should be doing?

Given Promontory's previous consulting gigs, including Countrywide, their involvement seems rife with potential conflicts. To the extent that the response to the conflicts problem is that it isn't possible to find non-conflicted parties with financial services, that's not really a response. It's just a statement of what a sad state our financial regulatory community is in. Yes, set a thief to catch a thief and all that, but if you can't find non-conflicted parties, that's a pretty strong indication of a fundamental level of capture in an industry.  

(2) A position in Jacksonville, Florida. LPS perhaps?  BoA does have some operations there, I believe. 

(3) A bunch of positions in Plano, Texas (Level 1, Level 2, Level 3, or Senior). Is that American Home?  

(4) Another Foreclosure File Reviewer Level 2.  This one requires 3 years of servicing experience and 1 year of foreclosure experience.  Anyone know which servicer is based in Westlake, CA?  I think BoA has some operations in that area. 

(5) Finally one that seems to require some legal background.  This is for a Foreclosure File Reviewer Level 3.  The ad doesn't state anything explicitly about legal training, but it is on a legal jobs website. Of course, not every legal job is for someone with a law degree.  And given that this site is also carrying an ad for Foreclosure File Reviewer Level 2 (1 year of experience), my sense is that even Level 3 is not a legal job.  This one does require 5 years of servicing/default experience and the ability to deal with NPV calculations. Hmm.  Who has an east side Cleveland location? National City/PNC?