Overview
Join Our Team!
We have a great team of friendly, talented and inspiring people at First United. As a learning organization, we offer opportunities for employees to grow and follow their passions. First United has been voted one of the top places to work in Oklahoma since 2009. Browse this page to learn about First United culture and the benefits of working here. Use the Get Started section to take your first step to joining First United.
The Position Job Title:
Mortgage Loss Mitigation Specialist
Summary:
This position is responsible for underwriting, decisioning and processing of loss mitigation requests, including post-trial review, preparation of approved workouts and submission for finalization in accordance with investor, insurer, and regulatory guidelines.
This role performs detailed financial and collateral reviews, evaluates borrower eligibility, reviews loss mitigation packages, and supports timely resolution of delinquent mortgages through home retention and liquidation strategies. It requires advanced knowledge of FHA, VA, USDA, FNMA, and FHLMC requirements and ensures all approvals, denials, and offers comply with applicable investor, insurer, and regulatory standards.
Major Duties and Responsibilities (Essential Functions)
Underwriting and Decisioning
Underwrite and render final decisions on loss mitigation requests, including but not limited to:
Repayment Plans
Forbearance Agreements
Loan Modifications
Partial Claims
Payment Supplement Agreements
Special Relief Measures
Short Sales
Deeds-in-Lieu of Foreclosure
Borrower Communication
Assist customers, via email and phone, with routine account-related questions and requests as well as collection of payments required during a loss mitigation review.
Document Collection and Review
Collect necessary documents from borrowers to complete loss mitigation reviews while ensuring accuracy, completeness and document compliance. Documents meet investor-specific format, age, and verification requirements.
Regulatory and Investor Compliance
Ensure all underwriting decisions withstand internal quality control, audit and regulatory review including, but not limited to:
FHA/HUD loss mitigation waterfall and servicing requirements
VA servicing and compromise sale requirements
USDA Rural Housing Servicing Guidelines
FNMA Servicing Guide
FHLMC Single-Family Seller/Servicer Guide
Financial and Eligibility Analysis
Conduct detailed financial, hardship, and collateral analyses to determine borrower eligibility, including:
Gross and net income calculations
Affordability assessments
Equity, surplus, and deficiency calculations
Quality Control and Audit Readiness
Ensure underwriting decisions comply with CFPB loss mitigation timelines and dual-tracking prohibitions.
Maintain complete, audit-ready loan files.
Clearly document underwriting rationale and decisions within servicing systems.
Post-Trial and Workout Finalization
Validate trial performance, conduct post-trial payment plan evaluations and clear outstanding conditions for workout finalization, including backend processing activities such as document accuracy, system coding and implementation in accordance with workout requirements.
Industry Knowledge and Process Improvement
Maintain working knowledge of mortgage default servicing industry updates.
Support continuous process improvement initiatives and provide recommendations to enhance underwriting and workflow efficiency.
Additional Duties and Responsibilities
Demonstrate proficiency in loss mitigation underwriting, decisioning, and processing.
Maintain up-to-date knowledge of regulatory, investor, and servicing guideline changes.
Accurately calculate trial payments, capitalization limits, and deferred balances.
Review and resolve escalations, appeals, and reconsideration requests.
Review executed purchase contracts and HUD-1 Settlement Statements or Closing Disclosures for short sales.
Participate in quality control reviews, audits, and investor examinations.
Complete all required compliance and training courses annually.
Adhere to company policies, procedures, and code of conduct.
Maintain professional appearance and business-casual dress standards.
Perform other related duties as assigned.
Employee Specifications Work Experience
Minimum of 2 years of mortgage servicing experience with a focus on loss mitigation underwriting, decisioning, and processing.
Knowledge of FNMA, FHLMC, and GNMA investor guidelines (preferred).
Experience with short sales and deed-in-lieu underwriting and processing.
Strong background in financial analysis and income calculation.
Experience in portfolio management, call center operations, customer service, collections, or financial services environments.
Education
High School Diploma or GED (required)
Bachelor’s degree (preferred)
Technical and Functional Competencies
Advanced knowledge of:
FHA Single Family Housing Policy Handbook
VA Servicing Guidelines
USDA Servicing Regulations
FNMA Servicing Guide
FHLMC Seller/Servicer Guide
Additional competencies include:
Strong analytical and decision-making skills
Ability to interpret financial, legal, title, and settlement documentation
Proficiency with mortgage servicing systems (MSP preferred)
Excellent written and verbal communication skills
Strong organizational skills and attention to detail
Ability to manage a high-volume pipeline in a fast-paced environment
Proficient computer and basic mathematical skills
Dependability and adherence to timelines
Strong interpersonal and teamwork skills
Physical and Working Conditions Work Environment
On-site position
Standard office environment with moderate noise levels
Hours and Schedule
40 hours per week
Shifts range from 7:00 AM – 4:00 PM to 10:00 AM – 7:00 PM CST
Saturdays: 8:00 AM – 1:00 PM CST
Note:
This job description is not intended to be all-inclusive. Employees may perform other related duties as assigned by supervisors to meet the ongoing needs of the organization.
All Locations: Plano-Parkwood
If any applicant is unable to complete an application or respond to a job opening because of a disability, please email us at HR@firstunitedbank.com for assistance.
First United is an Equal Opportunity Employer. To the extent required by Federal or State law, First United does not discriminate in employment opportunities or practices on the basis of race, color, religion, sex, national origin, or any other characteristic protected by law.
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We have a great team of friendly, talented and inspiring people at First United. As a learning organization, we offer opportunities for employees to grow and follow their passions. First United has been voted one of the top places to work in Oklahoma since 2009. Browse this page to learn about First United culture and the benefits of working here. Use the Get Started section to take your first step to joining First United.
The Position Job Title:
Mortgage Loss Mitigation Specialist
Summary:
This position is responsible for underwriting, decisioning and processing of loss mitigation requests, including post-trial review, preparation of approved workouts and submission for finalization in accordance with investor, insurer, and regulatory guidelines.
This role performs detailed financial and collateral reviews, evaluates borrower eligibility, reviews loss mitigation packages, and supports timely resolution of delinquent mortgages through home retention and liquidation strategies. It requires advanced knowledge of FHA, VA, USDA, FNMA, and FHLMC requirements and ensures all approvals, denials, and offers comply with applicable investor, insurer, and regulatory standards.
Major Duties and Responsibilities (Essential Functions)
Underwriting and Decisioning
Underwrite and render final decisions on loss mitigation requests, including but not limited to:
Repayment Plans
Forbearance Agreements
Loan Modifications
Partial Claims
Payment Supplement Agreements
Special Relief Measures
Short Sales
Deeds-in-Lieu of Foreclosure
Borrower Communication
Assist customers, via email and phone, with routine account-related questions and requests as well as collection of payments required during a loss mitigation review.
Document Collection and Review
Collect necessary documents from borrowers to complete loss mitigation reviews while ensuring accuracy, completeness and document compliance. Documents meet investor-specific format, age, and verification requirements.
Regulatory and Investor Compliance
Ensure all underwriting decisions withstand internal quality control, audit and regulatory review including, but not limited to:
FHA/HUD loss mitigation waterfall and servicing requirements
VA servicing and compromise sale requirements
USDA Rural Housing Servicing Guidelines
FNMA Servicing Guide
FHLMC Single-Family Seller/Servicer Guide
Financial and Eligibility Analysis
Conduct detailed financial, hardship, and collateral analyses to determine borrower eligibility, including:
Gross and net income calculations
Affordability assessments
Equity, surplus, and deficiency calculations
Quality Control and Audit Readiness
Ensure underwriting decisions comply with CFPB loss mitigation timelines and dual-tracking prohibitions.
Maintain complete, audit-ready loan files.
Clearly document underwriting rationale and decisions within servicing systems.
Post-Trial and Workout Finalization
Validate trial performance, conduct post-trial payment plan evaluations and clear outstanding conditions for workout finalization, including backend processing activities such as document accuracy, system coding and implementation in accordance with workout requirements.
Industry Knowledge and Process Improvement
Maintain working knowledge of mortgage default servicing industry updates.
Support continuous process improvement initiatives and provide recommendations to enhance underwriting and workflow efficiency.
Additional Duties and Responsibilities
Demonstrate proficiency in loss mitigation underwriting, decisioning, and processing.
Maintain up-to-date knowledge of regulatory, investor, and servicing guideline changes.
Accurately calculate trial payments, capitalization limits, and deferred balances.
Review and resolve escalations, appeals, and reconsideration requests.
Review executed purchase contracts and HUD-1 Settlement Statements or Closing Disclosures for short sales.
Participate in quality control reviews, audits, and investor examinations.
Complete all required compliance and training courses annually.
Adhere to company policies, procedures, and code of conduct.
Maintain professional appearance and business-casual dress standards.
Perform other related duties as assigned.
Employee Specifications Work Experience
Minimum of 2 years of mortgage servicing experience with a focus on loss mitigation underwriting, decisioning, and processing.
Knowledge of FNMA, FHLMC, and GNMA investor guidelines (preferred).
Experience with short sales and deed-in-lieu underwriting and processing.
Strong background in financial analysis and income calculation.
Experience in portfolio management, call center operations, customer service, collections, or financial services environments.
Education
High School Diploma or GED (required)
Bachelor’s degree (preferred)
Technical and Functional Competencies
Advanced knowledge of:
FHA Single Family Housing Policy Handbook
VA Servicing Guidelines
USDA Servicing Regulations
FNMA Servicing Guide
FHLMC Seller/Servicer Guide
Additional competencies include:
Strong analytical and decision-making skills
Ability to interpret financial, legal, title, and settlement documentation
Proficiency with mortgage servicing systems (MSP preferred)
Excellent written and verbal communication skills
Strong organizational skills and attention to detail
Ability to manage a high-volume pipeline in a fast-paced environment
Proficient computer and basic mathematical skills
Dependability and adherence to timelines
Strong interpersonal and teamwork skills
Physical and Working Conditions Work Environment
On-site position
Standard office environment with moderate noise levels
Hours and Schedule
40 hours per week
Shifts range from 7:00 AM – 4:00 PM to 10:00 AM – 7:00 PM CST
Saturdays: 8:00 AM – 1:00 PM CST
Note:
This job description is not intended to be all-inclusive. Employees may perform other related duties as assigned by supervisors to meet the ongoing needs of the organization.
All Locations: Plano-Parkwood
If any applicant is unable to complete an application or respond to a job opening because of a disability, please email us at HR@firstunitedbank.com for assistance.
First United is an Equal Opportunity Employer. To the extent required by Federal or State law, First United does not discriminate in employment opportunities or practices on the basis of race, color, religion, sex, national origin, or any other characteristic protected by law.
#J-18808-Ljbffr