Loss Mitigation Specialist
Supreme Lending, Granite Heights, WI, United States
Overview
Under the direction of the Director of Loan Servicing, the Loss Mitigation Specialist primary responsibility is to serve as the customer’s single point of contact (SPOC) for investor, state and company repayment, forbearance, HHF/EHLP and SCRA foreclosure alternative initiatives. In addition, the specialist will mitigate losses and ensure program compliance. Expectations
Determines best possible loan workout solution; makes a recommendation in conjunction with investor, insurer and client guidelines. Obtains and submits required documentation to/from investors, insurers and clients for review for appropriate workout. Works with internal areas, external third party vendors and borrowers, through both written and verbal negotiations, in an attempt to mitigate foreclosure and REO avoidance/losses. Reviews and analyzes borrowers’ financial documents, i.e. financial statements, hardship letter, tax returns, bank statements, pay stubs, profit and loss statement and credit bureau reports. Inputs documentation in system (notes/steps), generates letters/tasks, and adds documents to imaging system to substantiate recommendation. Sends out workout resolution documentation to borrowers, as required. Creates and updates detailed managerial reports pertinent to the workout function and/or progress of the loans on a daily, weekly or monthly basis. Maintains extensive knowledge of investor, insurer and client guidelines and timeframes required for processing a loan workout. Maintains a professional image and adheres to standards consistent with company policies and procedures. Other duties and projects, as assigned. Required Experience & Knowledge
5 plus year of experience in a loan servicing environment, including Loss Mitigation. Thorough knowledge of investor specific repayment, forbearance, HHF/EHLP and SCRA foreclosure alternative programs, loan servicing, foreclosure, and bankruptcy. Proficient with CFPB, FDCPA and ECOA regulations. Excellent internal and external customer service skills, including professional telephone manner and ability to write clear and concise business correspondence. Strong negotiation skills with the ability to resolve conflict and issues effectively. Solid time management skills, including the ability to multi task and prioritize work assignments to adhere to timelines. Ability to identify, analyze and problem solve pending foreclosure situations. Skilled at making decisions independently within set policies and procedures. Excellent computer skills, including proficiency in Microsoft Excel, Word; MSP preferred. Must be able to work regularly scheduled hours, arriving at scheduled reporting time and at the prescribed time after any breaks or lunch periods. DISCLAIMER: The above statements are intended to describe the general nature and level of work being performed by individuals in, or assigned to, the above position and are not intended to be construed as an exhaustive list of all responsibilities, duties and skills required, and may be changed at the discretion of the company.
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Under the direction of the Director of Loan Servicing, the Loss Mitigation Specialist primary responsibility is to serve as the customer’s single point of contact (SPOC) for investor, state and company repayment, forbearance, HHF/EHLP and SCRA foreclosure alternative initiatives. In addition, the specialist will mitigate losses and ensure program compliance. Expectations
Determines best possible loan workout solution; makes a recommendation in conjunction with investor, insurer and client guidelines. Obtains and submits required documentation to/from investors, insurers and clients for review for appropriate workout. Works with internal areas, external third party vendors and borrowers, through both written and verbal negotiations, in an attempt to mitigate foreclosure and REO avoidance/losses. Reviews and analyzes borrowers’ financial documents, i.e. financial statements, hardship letter, tax returns, bank statements, pay stubs, profit and loss statement and credit bureau reports. Inputs documentation in system (notes/steps), generates letters/tasks, and adds documents to imaging system to substantiate recommendation. Sends out workout resolution documentation to borrowers, as required. Creates and updates detailed managerial reports pertinent to the workout function and/or progress of the loans on a daily, weekly or monthly basis. Maintains extensive knowledge of investor, insurer and client guidelines and timeframes required for processing a loan workout. Maintains a professional image and adheres to standards consistent with company policies and procedures. Other duties and projects, as assigned. Required Experience & Knowledge
5 plus year of experience in a loan servicing environment, including Loss Mitigation. Thorough knowledge of investor specific repayment, forbearance, HHF/EHLP and SCRA foreclosure alternative programs, loan servicing, foreclosure, and bankruptcy. Proficient with CFPB, FDCPA and ECOA regulations. Excellent internal and external customer service skills, including professional telephone manner and ability to write clear and concise business correspondence. Strong negotiation skills with the ability to resolve conflict and issues effectively. Solid time management skills, including the ability to multi task and prioritize work assignments to adhere to timelines. Ability to identify, analyze and problem solve pending foreclosure situations. Skilled at making decisions independently within set policies and procedures. Excellent computer skills, including proficiency in Microsoft Excel, Word; MSP preferred. Must be able to work regularly scheduled hours, arriving at scheduled reporting time and at the prescribed time after any breaks or lunch periods. DISCLAIMER: The above statements are intended to describe the general nature and level of work being performed by individuals in, or assigned to, the above position and are not intended to be construed as an exhaustive list of all responsibilities, duties and skills required, and may be changed at the discretion of the company.
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