Loss Mitigation Specialist
Mortgage Solutions Financial, Colorado Springs, Colorado, United States, 80509
Position : Loss Mitigation Specialist
Department : Servicing
Reports To : Loss Mitigation Supervisor
Remote : ☐ YES or ☒ NO
Location : 7450 Campus Drive, Suite 200, Colorado Springs, CO 80920
Exempt : ☐
Non-exempt : ☒ Schedule : Monday through Friday with 2 mandatory Saturdays per month Compensation & Benefits : $24.00 to $26.00 hourly + Monthly Incentive Eligibility
About MSF MSF is a national mortgage lender based in Colorado Springs. MSF strongly believes every client should be served with integrity, dignity, and respect. Without compromise, MSF is committed to providing loans that are in the best interest of our clients, not our bottom line. We will continue to educate the community by empowering our clients to make responsible and informed fiscal decisions that result in greater financial peace of mind.
Role Overview The Loss Mitigation Specialist is responsible for managing a portfolio of delinquent residential mortgage loans to minimize financial loss for the company and its investors. This role requires a proactive approach to borrower outreach, utilizing advanced collection techniques and negotiation strategies to resolve defaults. The Specialist acts as a consultant to homeowners, evaluating complex financial data to offer viable alternatives to foreclosure. All employees are expected to uphold Mortgage Solutions Financials’ commitment to superior customer service, regulatory compliance, and high ethical standards.
Essential Duties
Execute default service policies and procedures in strict accordance with Mortgage Solutions Financial (MSF) guidelines and federal regulations (e.g., CFPB).
Proactively contact borrowers with delinquent accounts to negotiate repayment plans, loan modifications, or other "workout" options to cure delinquencies.
Maintain meticulous, real-time documentation within the MSP (Mortgage Servicing Package) loss mitigation workstation to ensure a clear audit trail.
Analyze borrower financial statements, including tax returns, pay stubs, and credit reports to determine the most appropriate loss mitigation strategy.
Prepare and present formal loss mitigation and workout proposals to the Director of Default for final approval.
Coordinate with external stakeholders, including GNMA/FHLMC/FNMA, real estate brokers, agents, and legal counsel, regarding short sales, deeds-in-lieu, or settlement offers.
Ensure all workout options comply with specific investor (FHA, VA, USDA, etc.) and PMI (Private Mortgage Insurance) requirements.
Provide high-touch support by resolving complex customer inquiries via phone, email, and chat with a focus on first-call resolution.
Participate in ongoing training and perform additional duties as assigned to support department goals.
Regular, Reliable and predictable onsite attendance is an essential function of this role.
Other duties as assigned.
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Non-exempt : ☒ Schedule : Monday through Friday with 2 mandatory Saturdays per month Compensation & Benefits : $24.00 to $26.00 hourly + Monthly Incentive Eligibility
About MSF MSF is a national mortgage lender based in Colorado Springs. MSF strongly believes every client should be served with integrity, dignity, and respect. Without compromise, MSF is committed to providing loans that are in the best interest of our clients, not our bottom line. We will continue to educate the community by empowering our clients to make responsible and informed fiscal decisions that result in greater financial peace of mind.
Role Overview The Loss Mitigation Specialist is responsible for managing a portfolio of delinquent residential mortgage loans to minimize financial loss for the company and its investors. This role requires a proactive approach to borrower outreach, utilizing advanced collection techniques and negotiation strategies to resolve defaults. The Specialist acts as a consultant to homeowners, evaluating complex financial data to offer viable alternatives to foreclosure. All employees are expected to uphold Mortgage Solutions Financials’ commitment to superior customer service, regulatory compliance, and high ethical standards.
Essential Duties
Execute default service policies and procedures in strict accordance with Mortgage Solutions Financial (MSF) guidelines and federal regulations (e.g., CFPB).
Proactively contact borrowers with delinquent accounts to negotiate repayment plans, loan modifications, or other "workout" options to cure delinquencies.
Maintain meticulous, real-time documentation within the MSP (Mortgage Servicing Package) loss mitigation workstation to ensure a clear audit trail.
Analyze borrower financial statements, including tax returns, pay stubs, and credit reports to determine the most appropriate loss mitigation strategy.
Prepare and present formal loss mitigation and workout proposals to the Director of Default for final approval.
Coordinate with external stakeholders, including GNMA/FHLMC/FNMA, real estate brokers, agents, and legal counsel, regarding short sales, deeds-in-lieu, or settlement offers.
Ensure all workout options comply with specific investor (FHA, VA, USDA, etc.) and PMI (Private Mortgage Insurance) requirements.
Provide high-touch support by resolving complex customer inquiries via phone, email, and chat with a focus on first-call resolution.
Participate in ongoing training and perform additional duties as assigned to support department goals.
Regular, Reliable and predictable onsite attendance is an essential function of this role.
Other duties as assigned.
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