Loss Mitigation Workout Completion Specialist
Guild Mortgage, San Diego, CA, United States
Loss Mitigation Workout Completion Specialist
Guild Mortgage Company, closing loans and opening doors since 1960. As a mortgage banking firm we are dedicated to serving the home owner/buyer. Our goal is to provide affordable home financing for our customers, utilizing the best terms available while providing a level of professionalism and service unsurpassed in the lending industry. The Loss Mitigation Workout Closing Specialist is responsible for managing the closing process of loan workout packages, ensuring compliance with investor, insurer, state, federal, and CFPB guidelines. This role involves coordinating with various teams, maintaining accurate records, and providing exceptional customer service to ensure a seamless and efficient loss mitigation process. Additionally, the Workout Completion Specialist oversees the quality control of borrower-executed documents, ensuring that approved workout terms amortize and cure delinquencies. They manage the finalization of workout terms in our proprietary system, I5, and collaborate closely with departments such as cashiering and loan accounting to ensure accurate and timely processing of loans eligible for buyout. This role is a non-exempt position with a targeted salary range of $21.44/hour to $29.55/hour. Compensation at Guild is influenced by a wide array of factors including but not limited to local and federal minimum wage requirements, education, level of experience, and applicant's geographical location. Essential Functions: Conduct quality control of borrower-executed documents to ensure proper notarization and execution. Reconcile modifications to ensure the capitalized amounts align with the adjustments to the loan's unpaid principal balance. Ensure approved workout terms are properly amortized and cure delinquencies. Perform quality control of funds movement, escrow balance, and advance setup in the system of record. Collaborate with teams such as cash management, escrow, and investor accounting for any necessary adjustments. Research, reconcile, reclassify, and remit corporate advances resulting from loss mitigation workouts. Manage and pay post-workout invoice payments resulting from completed workouts. Submit workout settlements to investor systems (FNMA and FHLMC) and perform final quality control of the internal system to ensure it reflects workout documents before closing workout templates. Monitor borrower accounts approved for FHA Payment Supplement population and process requests for termination and cancellations. Submit documents for recording by mail or approve submission in the document vendor system. Clear delinquencies cured by the workouts and ensure documents are approved for recording. Complete FNMA reclassifications before finalizing workout terms in the proprietary system, I5. Collaborate with cashiering and loan accounting teams to ensure accurate processing of loans. Prepare loans eligible for buyout, ensuring all necessary documentation and approvals are in place. Troubleshoot and resolve any issues related to workout completion and document quality control. Assist in developing and implementing procedures to improve the workout completion process. Provide excellent customer service to internal and external stakeholders. Communicate and collaborate effectively with individuals and teams to ensure high-quality and timely responses and resolutions to issues. Identify needs, propose innovative solutions, and deliver results within timelines. Participate in activities and projects aimed at improving business performance. Maintain effective communication with the management team and escalate issues as needed. Stay current on industry regulations and recommend updates to internal policies, procedures, and systems based on new or changed requirements. Ensure compliance with company policies, industry regulations, and legal requirements. Handle confidential information with discretion and integrity. Provide excellent customer service to internal and external stakeholders. Follow Guild's information security policies. Perform other duties as assigned. Qualifications: High School Diploma or equivalent, required. Bachelors Degree directly related to the position or equivalent, preferred. Minimum two or more years total mortgage servicing experience or loss mitigation roles. Analytical skills. Ability to organize and manage multiple priorities simultaneously. Ability to work well independently or within a team. Accurate data entry. Strong interpersonal and customer service skills. Must be able to handle confidential matters with discretion. Excellent interpersonal communication skills required. Strong working knowledge of FNMA/ FHLMC/ FHA/ VA /USDA mortgage loan documents, including overall processes and inter-relationships, standards and requirements, terminology, compliance and regulatory requirements related to federal debt collection laws, Federal Bankruptcy Laws, and proper handling of other legal situations. Knowledge of Standard Operating Procedures, CFPB, FCRA, and FDCPA preferred. Highly organized and detail-oriented; ability to work in a fast-paced, department-metrics-driven environment required. Intermediate math skills required. Analytical thinking. Familiarity with document retention software; Blitzdoc /ICE preferred. 10-key by touch is strongly preferred. Proficiency in Microsoft Office Suite and loan servicing software. Ability to work independently and as part of a team. Excellent verbal and written communication skills required. Highly organized and detail-oriented; ability to work in a fast-paced, metrics-driven environment required. Proficiency in Microsoft Office Suite, Word, Excel, Wiki, collaborative cloud-based programs, and third-party software applications required. Commitment to company values. Customer Service - Proactive attention to each person Integrity - Do and say what's right Respect - Treat others with dignity Collaboration - Listen and work together Learning - Seek knowledge and strive for improvement Excellence Deliver the unexpected Supervision: Job Scope: Responsible for understanding the department/functional area objectives and goals and how own job contributes to achievement of these goals; may recommend changes and enhancements based on analysis and evaluation of circumstances Complexity: Problems encountered are often complex and may involve significant resource coordination and availability, evaluating and resolving discrepancies with data, analyses, processes, etc. using own expertise and judgment Impact: Decisions and actions impact primarily workflow, processes and timeframes Requirements: Work is primarily sedentary; mobility in an office setting. Ability to operate standard office equipment and keyboards. Frequent use of computer keyboard and mouse. Regularly required to accurately perceive, distinguish and interpret information received visually and through audio; e.g., words, numbers and other data broadcasted aloud/viewed on a screen, as well as print and other media. Office environment moderate noise, no substantial exposure to adverse environmental conditions. Must be able to adhere to process protocol. Must be able to apply established protocols in a timely manner. Learn new tasks, remember processes, maintain focus, complete tasks independently, and make timely decisions in the context of a workflow. Work is primarily performed during the business week, Monday - Friday. Guild offers a pleasant work environment, competitive compensation and excellent benefits package; including medical, dental, vision, life insurance, AD&D, LTD and 401(k) with employer match. Guild Mortgage Company is an Equal Opportunity Employer.
Guild Mortgage Company, closing loans and opening doors since 1960. As a mortgage banking firm we are dedicated to serving the home owner/buyer. Our goal is to provide affordable home financing for our customers, utilizing the best terms available while providing a level of professionalism and service unsurpassed in the lending industry. The Loss Mitigation Workout Closing Specialist is responsible for managing the closing process of loan workout packages, ensuring compliance with investor, insurer, state, federal, and CFPB guidelines. This role involves coordinating with various teams, maintaining accurate records, and providing exceptional customer service to ensure a seamless and efficient loss mitigation process. Additionally, the Workout Completion Specialist oversees the quality control of borrower-executed documents, ensuring that approved workout terms amortize and cure delinquencies. They manage the finalization of workout terms in our proprietary system, I5, and collaborate closely with departments such as cashiering and loan accounting to ensure accurate and timely processing of loans eligible for buyout. This role is a non-exempt position with a targeted salary range of $21.44/hour to $29.55/hour. Compensation at Guild is influenced by a wide array of factors including but not limited to local and federal minimum wage requirements, education, level of experience, and applicant's geographical location. Essential Functions: Conduct quality control of borrower-executed documents to ensure proper notarization and execution. Reconcile modifications to ensure the capitalized amounts align with the adjustments to the loan's unpaid principal balance. Ensure approved workout terms are properly amortized and cure delinquencies. Perform quality control of funds movement, escrow balance, and advance setup in the system of record. Collaborate with teams such as cash management, escrow, and investor accounting for any necessary adjustments. Research, reconcile, reclassify, and remit corporate advances resulting from loss mitigation workouts. Manage and pay post-workout invoice payments resulting from completed workouts. Submit workout settlements to investor systems (FNMA and FHLMC) and perform final quality control of the internal system to ensure it reflects workout documents before closing workout templates. Monitor borrower accounts approved for FHA Payment Supplement population and process requests for termination and cancellations. Submit documents for recording by mail or approve submission in the document vendor system. Clear delinquencies cured by the workouts and ensure documents are approved for recording. Complete FNMA reclassifications before finalizing workout terms in the proprietary system, I5. Collaborate with cashiering and loan accounting teams to ensure accurate processing of loans. Prepare loans eligible for buyout, ensuring all necessary documentation and approvals are in place. Troubleshoot and resolve any issues related to workout completion and document quality control. Assist in developing and implementing procedures to improve the workout completion process. Provide excellent customer service to internal and external stakeholders. Communicate and collaborate effectively with individuals and teams to ensure high-quality and timely responses and resolutions to issues. Identify needs, propose innovative solutions, and deliver results within timelines. Participate in activities and projects aimed at improving business performance. Maintain effective communication with the management team and escalate issues as needed. Stay current on industry regulations and recommend updates to internal policies, procedures, and systems based on new or changed requirements. Ensure compliance with company policies, industry regulations, and legal requirements. Handle confidential information with discretion and integrity. Provide excellent customer service to internal and external stakeholders. Follow Guild's information security policies. Perform other duties as assigned. Qualifications: High School Diploma or equivalent, required. Bachelors Degree directly related to the position or equivalent, preferred. Minimum two or more years total mortgage servicing experience or loss mitigation roles. Analytical skills. Ability to organize and manage multiple priorities simultaneously. Ability to work well independently or within a team. Accurate data entry. Strong interpersonal and customer service skills. Must be able to handle confidential matters with discretion. Excellent interpersonal communication skills required. Strong working knowledge of FNMA/ FHLMC/ FHA/ VA /USDA mortgage loan documents, including overall processes and inter-relationships, standards and requirements, terminology, compliance and regulatory requirements related to federal debt collection laws, Federal Bankruptcy Laws, and proper handling of other legal situations. Knowledge of Standard Operating Procedures, CFPB, FCRA, and FDCPA preferred. Highly organized and detail-oriented; ability to work in a fast-paced, department-metrics-driven environment required. Intermediate math skills required. Analytical thinking. Familiarity with document retention software; Blitzdoc /ICE preferred. 10-key by touch is strongly preferred. Proficiency in Microsoft Office Suite and loan servicing software. Ability to work independently and as part of a team. Excellent verbal and written communication skills required. Highly organized and detail-oriented; ability to work in a fast-paced, metrics-driven environment required. Proficiency in Microsoft Office Suite, Word, Excel, Wiki, collaborative cloud-based programs, and third-party software applications required. Commitment to company values. Customer Service - Proactive attention to each person Integrity - Do and say what's right Respect - Treat others with dignity Collaboration - Listen and work together Learning - Seek knowledge and strive for improvement Excellence Deliver the unexpected Supervision: Job Scope: Responsible for understanding the department/functional area objectives and goals and how own job contributes to achievement of these goals; may recommend changes and enhancements based on analysis and evaluation of circumstances Complexity: Problems encountered are often complex and may involve significant resource coordination and availability, evaluating and resolving discrepancies with data, analyses, processes, etc. using own expertise and judgment Impact: Decisions and actions impact primarily workflow, processes and timeframes Requirements: Work is primarily sedentary; mobility in an office setting. Ability to operate standard office equipment and keyboards. Frequent use of computer keyboard and mouse. Regularly required to accurately perceive, distinguish and interpret information received visually and through audio; e.g., words, numbers and other data broadcasted aloud/viewed on a screen, as well as print and other media. Office environment moderate noise, no substantial exposure to adverse environmental conditions. Must be able to adhere to process protocol. Must be able to apply established protocols in a timely manner. Learn new tasks, remember processes, maintain focus, complete tasks independently, and make timely decisions in the context of a workflow. Work is primarily performed during the business week, Monday - Friday. Guild offers a pleasant work environment, competitive compensation and excellent benefits package; including medical, dental, vision, life insurance, AD&D, LTD and 401(k) with employer match. Guild Mortgage Company is an Equal Opportunity Employer.