Sr. Loan Administration Specialist Loss Mitigation

Chicago, IL

About the position

In this role, you will manage various loss mitigation requests from different sources, ensuring that all processes are completed on time and in compliance with regulations. You will review submissions for completeness and accuracy, analyze financial details of borrowers and loans, and escalate issues to the relevant investors when necessary. Communication is key, as you will inform servicers about decisions on requests promptly. Additionally, you will handle inquiries using Service Now, manage phone calls via Microsoft Teams, and strive to provide excellent customer service while minimizing wait times. You will also manage insurance cancellations using eMAQCS Plus, conduct thorough reviews, and maintain detailed records. Reporting is another critical aspect of your role, where you will compile monthly reports for investors and financial institutions, ensuring data accuracy and timely completion. Quality control and training will also be part of your responsibilities, as you review loss mitigation requests and train staff on best practices.

Responsibilities

• Handle different loss mitigation requests from various sources.
• Ensure timely processing of requests in compliance with regulations.
• Review submissions for completeness and accuracy.
• Analyze financial details of borrowers and loans to determine eligibility.
• Escalate issues to relevant investors as needed.
• Communicate decisions to servicers in a timely manner.
• Manage inquiries using Service Now and Microsoft Teams.
• Provide excellent customer service and minimize wait times.
• Resolve customer issues in one call and handle escalations quickly.
• Maintain detailed notes on call resolutions.
• Manage requests to cancel mortgage insurance using eMAQCS Plus.
• Conduct thorough reviews and communicate findings with financial institutions.
• Prepare weekly reports for investors and update Microsoft Access database.
• Compile and complete monthly or as-needed reports.
• Work with internal teams to ensure data accuracy.
• Analyze data and summarize findings as necessary.
• Coordinate with team members to complete reports on time.
• Review loss mitigation requests for Xtra and Traditional loans.
• Train staff on best practices for underwriting loss mitigation.

Requirements

• Default management experience and understanding of delinquency reporting codes.
• General customer service experience, including managing phone calls and responding to emails.
• Ability to manage large data sets and understand analytical patterns.
• Experience in delinquency management and understanding the lifecycle of delinquencies.
• ADHOC report management experience.
• Ability to manage escalations and work with internal and external stakeholders.
• Loss mitigation experience, including modifications and repayment plans.
• Foreclosure prevention experience.
• Knowledge of loan operations and servicing aspects.
• Experience in creating reports and data analytics.
• Substantial knowledge of Microsoft Office products, especially Outlook, Teams, Word, Excel, and Access.
• Understanding of the delinquency life cycle from start to finish.
• Knowledge of investor requirements around loss mitigation alternatives.

Nice-to-haves

• Good communication skills (verbal, written, and listening).
• Substantial understanding of system/technical concepts.
• Ability to work with minimal supervision and see tasks through from beginning to end.
• High level of integrity and dependability.
• Fast learner with the ability to acclimate to Mortgage Partnership Finance System applications.
• Strong attention to detail.
• Ability to deal with and resolve ambiguous situations.
• History of effective time management and priority setting.

Benefits

• Medical, dental & vision insurance.
• Critical Illness, Accident, and Hospital insurance.
• 401(k) Retirement Plan with pre-tax and Roth post-tax contributions.
• Voluntary Life & AD&D insurance for employees and dependents.
• Short and long-term disability insurance.
• Health Spending Account (HSA).
• Transportation benefits.
• Employee Assistance Program.
• Time Off/Leave (PTO, Vacation or Sick Leave).