Loss Mitigation Underwriter l

$41,600 - $47,840/Yr

Carrington - Greenwich, CT

Full-time - Entry Level

Greenwich, CT

Professional, Scientific, and Technical Services

About the position

The Loss Mitigation Underwriter I will be responsible for underwriting Loan Modifications applications in accordance with Treasury, Company, and Investor guidelines while following the company's policies and procedures under general supervision. This entry-level role is designed for individuals who are beginning their careers in underwriting and typically handles the least complex underwriting files. As the Loss Mitigation Underwriter I gains additional knowledge and experience, they will be expected to take on more complex files. The position requires making sound underwriting decisions that meet legal and policy requirements, ensuring compliance with all US state and federal laws and regulations relevant to the company's operations. The target pay range for this position is $20.00 - $23.00 per hour.

Responsibilities

• Perform a thorough analysis to ensure the quality of each loan and to determine compliance with Treasury, Company and Investor guidelines.
• Conduct Verification of Income (VOI).
• Calculate customer's front and back-end debt to income ratio.
• Verify occupancy, hardship and income.
• Apply payment waterfall to determine workout eligibility (repayment plan, forbearance, modification or liquidation options).
• Identify the type(s) and amounts of liquid assets the borrower holds, if applicable.
• Determine and communicate needed conditions to properly document the file (reason for default letter, updated pay stubs, bankruptcy papers, etc.).
• Complete system tasks as required to maintain compliance with Treasury, Company and Investor guidelines.
• Document final decision and update system of record.

Requirements

• High school diploma or equivalent required.
• Zero (0) to 2 years of underwriting background or servicing/loss mitigation experience.

Benefits

• Comprehensive healthcare plans for you and your family.
• Discretionary 401(k) match of 50% of the first 4% of pay contributed.
• Access to several fitness, restaurant, retail (and more!) discounts through our employee portal.
• Customized training programs to help you advance your career.
• Employee referral bonuses.
• Educational Reimbursement.