The Loss Mitigation Specialist is a financial services professional who will be responsible for establishing contact, communicating and negotiating with borrowers, investors, and real estate agents, via verbal and written means, in an attempt to resolve at-risk mortgages.
• Handles multiple mortgage products that are 60+ days delinquent, as governed by investor, departmental and legal guidelines
• Keeps servicing files up-to-date so borrowers can receive the best assistance
• Minimizes loss due to foreclosure through the use of loss mitigation options, such as pre-foreclosure sales, loan modifications and repayment plans.
• Arranges for contractual services relating to property inspections, appraisers, real estate agents, etc., who may be involved in the inspection or evaluation of the property.
• Reviews title searches to ensure that no title issues threaten the standing of our investor’s lien on the property
• Makes calls to borrowers, borrowers’ authorized representatives, and brokers
• Analyzes financial statements, tax returns, credit reports, and the value of the collateral in order to determine and recommend the most feasible and appropriate workout to the customer
• Accurately underwrites the borrower’s income, through the review of paystubs, tax documents, benefit statements, business profit and loss statements, etc.
• Addresses any borrower question or concern. Handles escalated files appropriately by providing an articulate and complete response
• Contributes to the progress of the department by understanding the measurements used to define success and how they can positively impact those measurements
• Certifies that all required actions have taken place prior to completing a foreclosure sale
• Ensures compliance with company policies and procedures
• Performs other projects as assigned by Management.
• Minimum 1+ year of Mortgage Servicing experience or college graduates majoring in a financial or business related field.
• Proficient in Microsoft Word and Excel.
• Excellence in consulting and advising customers via telephone and written communication
• Applicants being considered for a Negotiator/SPOC role should be prepared to obtain a Mortgage Loan Originator License which will be paid for by the company.