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Mortgage Loss Mitigation Specialist

US-TX-Plano
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Job Description

Summary

 

The Loss Mitigation Specialist is the Single Point of Contact (SPOC) for all borrowers experiencing a financial hardship, or imminent default, with making their monthly mortgage payments.  The Loss Mitigation Specialist’s main responsibility is to assist borrowers with viable solutions in curing their delinquency and/or avoiding foreclosure by identifying the appropriate Investor’s (FHA, VA, USDA, MPF, Fannie, Freddie and Private) eligible retention and disposition options; thereby, mitigating financial losses for investors, in a timely, accurate and compliant manner. The Loss Mitigation Specialist is responsible for all phases of the loss mitigation process from start to finish.

Primary Responsibilities

  • Handle incoming and outgoing calls with borrowers.
  • Sending of Loss Mitigation Packages along with statutory notices and investor specific letters and calls, as required.
  • Review receipt of Loss Mitigation Package, along with all supporting financial statements, to verify all required investor documentation is complete. If incomplete, communication to borrower for missing documents and/or conditions.
  • Perform verifications of income.
  • Calculate debt-to-income.
  • Verify hardship as well as occupancy status.
  • Assess and analyze financial documents to determine borrowers’ eligibility of specific loss mitigation options based on investor guidelines (e.g. loan modifications, repayment plans, forbearance plans and short sales).
  • Ability to prepare formal documents (e.g. loan modifications, repayment plans, TPP letters) to complete the loss mitigation option.
  • Complete loan servicing system and default management system events and tasks in a timely and efficient manner.
  • Establish positive working relationships and lines of communication with appropriate business partners and third parties (e.g. internal departments, investors, outsource vendors).
  • Generate and maintain reports on the loss mitigation portfolio for investors and management.
  • Ability to meet critical deadlines regarding solicitations, financial reviews, correspondence, etc. and achieving departmental goals while maintaining accuracy and quality of product.
  • Maintain strict adherence to company policies and procedures, investor guidelines, and State and Federal laws and regulations.
  • Perform other duties as required and/or assigned.

Sunflower Bank employees enjoy outstanding benefits...including 401(k) plan, health/dental insurance, tuition reimbursement, paid time off, paid holidays, and more.  Competitive wages plus excellent benefits!

 

If you qualify, please apply online at www.sunflowerbank.com/careers.  Come grow with us and assist our institution in providing leading edge financial solutions to our customers! 

You’ve never worked for any place like Sunflower Bank! 

EOE/AA: Minorities/Females/Disabled/Vets

 

Skills & Requirements

Education / Experience Required

 

  • Minimum of two (2) years of Loss Mitigation experience with strong knowledge of FHA, VA, Fannie and Freddie loss mitigation requirements.
  • Minimum of four (4) years in the default mortgage servicing industry.
  • Must possess strong knowledge of Investor Loss Mitigation Programs (e.g. FHA, VA, Fannie, Freddie) with USDA and MPF experience a plus.
  • Must possess fulfillment, underwriting, real estate and legal documentation knowledge.
  • Exceptional customer service and negotiation skills.
  • Must possess strong verbal, written, organizational and time management skills with attention to detail and accuracy.
  • Ability to solve complex problems independently.
  • Demonstrates sound judgment.
  • Experience/Knowledge with LSAMS and TEMPO preferred.
  • Must possess proficiency in Microsoft Excel and Word.
  • Bachelor’s Degree preferred.

 

Qualifications