Loss Mitigation Specialist
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Job Description
Loss Mitigation Specialist managing delinquent mortgage loan resolutions for Dovenmuehle Mortgage, a U.S. mortgage subservicing firm. Evaluating borrower finances, negotiating alternatives, and preventing foreclosures.
Responsibilities:
- Manage cases of loss mitigation loan files within required timelines and protocols
- Handle an intermediate volume of cases and identify more complex cases for escalation
- Evaluate borrower application packages to determine financial circumstances, capacity, and ability to pay
- Reconcile sources of income, tax returns, balance sheets/statements, and credit reports
- Evaluate property valuations and/or appraisals to determine beneficiary’s equity position and ensure adequate collateral is maintained
- Review title searches for liens, real estate tax information, or other barriers and relay required steps to appropriate parties
- Negotiate terms with mortgagors, real estate brokers, attorneys, MI companies, government agencies, and clients
- Complete modification/forbearance calculations for agreements or provide required information to appropriate parties
- Ensure documentation is accurate before submission to departments updating the Loan Servicing System
- Manage portfolio loans with client-specific criteria and agency guidelines
- Monitor loans for borrower payment and performance during trial, forbearance, or repayment plans
- Adhere to laws, regulations, and organizational processes
- Report to Supervisor
- Perform additional duties as assigned
Requirements:
- Bachelor’s degree or equivalent combination of education and experience
- 1+ years’ experience of mortgage underwriting
- Proficient with Microsoft applications, including Excel, and loan servicing platforms
- Strong analytical and problem-solving skills and attention to detail
- Ability to handle complex, multiple tasks simultaneously in a fast-paced environment
- Ability to work independently along with initiative to complete all assigned tasks timely
- Effective verbal and written communication skills with demonstrated ability to always interact in a positive and professional manner with all levels of both internal and external audiences
- Detailed knowledge of processes of loss mitigation, bankruptcy, and foreclosure, as well as various agency requirements and waterfall guidelines
- Have the educational requirements necessary to obtain Loan Officer’s license
- Ability to train others
- Must successfully complete annual regulatory compliance training
- Must be able to remain in a stationary position and/or move about the organization or remote office
- May occasionally lift and/or move up to 25 lbs.
Benefits:
- Medical, Dental, Vision, Wellness, Flexible Spending Account, and Employee Assistance Program
- Employer paid Life Insurance, Short Term Disability, and Long-Term Disability
- 401 (K) Plan with company match
- Paid Vacation, Sick, Personal and Holidays
- On-site office setting or quiet, designated work from home space
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