Loss Mitigation Specialist

Full-time - Mid Level

Plano, TX

About the position

Responsible for managing a portfolio of current to severely delinquent accounts where a borrower has requested loss mitigation assistance. Analyzes and understands credit bureau reports, tax returns, financial statements, pay stubs, bank statements, and other supporting documentation to verify borrower(s) financial situation and determines the best foreclosure alternative. In addition, identifies the best foreclosure alternative solution by following FHA, VA, USDA, FNMA, FHLMC waterfall guidelines and arranging Repayments plans, Loan Modifications, Pre-Foreclosure Sales, and Mortgage Release. Demonstrates full understanding of all FHA, VA, USDA, FNMA, FHLMC loss mitigation retention and disposition guidelines to effectively mitigate loss for investor and company. Demonstrates a strong understanding of all FHA, VA, USDA, FNMA, FHLMC income & expense calculation guidelines and requirements.

Responsibilities

• Underwrites loans for loss mitigation in accordance with FHA, VA, USDA, FNMA, FHLMC guidelines and decisions all loss mitigation waterfall options for borrower(s) seeking workout assistance.
• Recommends loss mitigation actions on requests for proposed foreclosure alternatives within timeframes established by investor.
• Independently maintains a portfolio size of 100+ loans by meeting all investor, departmental and company guidelines.
• Works directly with Borrower Advocate team on loss mitigation follow up’s, approval, or denials.
• Demonstrates thorough understanding of credit risk and ability to review financial documents.
• Utilizes ability to read and interpret title searches and rectify outstanding judgements, liens, etc.
• Maintains quality control and production standards defined by loanDepot.

Requirements

• 3+ years of Loss Mitigation Underwriting experience required.
• Experience working in MSP/Black Knight required.
• Bachelor’s Degree preferred

Benefits

• Aggressive compensation package based on experience and skill set
• Inclusive, diverse, and collaborative culture where people from all backgrounds can thrive
• Work with other passionate, purposeful, and customer-centric people
• Extensive internal growth and professional development opportunities including tuition reimbursement
• Comprehensive benefits package including Medical/Dental/Vision
• Wellness program to support both mental and physical health