Loss Mitigation Underwriter

Overview

Who We Are Service Mac is a new sub-servicing entity backed by leading practitioners in the mortgage servicing industry. Service Mac focuses on providing superior technology, products, and services for the mortgage and real estate industries, backed by personalized service and support. Our offerings span the mortgage continuum and aim to enhance security, compliance, customer satisfaction, and profitability. Our inclusive, people-first culture has earned accolades, including placement on the Fortune 100 Best Companies to Work For list for ten consecutive years, and recognition as a best place to work for women, diversity, and LGBTQ+ employees.

First American strives to be a great place to work for all.

What We Do We assess views and evaluates applications, renewals, re-pricings, restrictions, and cancellations to determine risk acceptability and coverage. We calculate borrower income and expenses to a high standard of accuracy. We manage a caseload of files from application to modification, update system records and investor portals, operate according to standard operating procedures and government/investor regulations, and focus on quality of service and customer experience while avoiding unwarranted delays.

• Reviews and evaluates policy applications, renewals, re-pricings, restrictions, and cancellations to determine risk acceptability and coverage.
• Reviews loss mitigation package documentation to determine if the homeowner qualifies for a loss mitigation option; reports information to the investor, client, and insurer.
• Educates homeowners about loan modification programs, forbearance plans, repayment plans, short sales, and deeds in lieu options as applicable.
• Calculates income, expenses, and escrow advances in accordance with departmental and investor/insurer/client guidelines.
• Orders and reviews title searches and BPO/AVM/appraisals as applicable.
• Reviews and implements loan modifications, forbearances, and repayment terms according to investor/client/insurer guidelines.
• For short sales, reviews marketing strategies, listing history, and offer activity; resolves counter offers in line with procedures and guidelines.
• Requests and follows up on foreclosure holds as necessary.
• Submits loss mitigation requests to investor/client/MI for approval as required.
• Declines files as directed and sends appropriate denial letters if the homeowner does not qualify for a workout option.
• Prepares and sends trial period documents, forbearance plan documents, repayment plan agreements, short sale approval and closing letters, and decline letters as needed.
• Monitors status of repayment plans, forbearance plans, and trial period plans; updates MSP system and investor systems of record with payment records as needed.
• Answers inbound phone calls, returns voicemails, handles escalations, and responds to all other requests within 24 hours of receipt.
• Contacts homeowners and real estate agents to provide status of loss mitigation files.
• Maintains a caseload of files as established by the department.
• Manages written and verbal correspondence between homeowners, clients, investors, insurers, subordinate lien holders, real estate agents, consumer credit counseling services, and foreclosure attorneys.
• Follows functional area processes; troubleshoots as needed and recommends improvements to operations.
• Actively contributes to team results and works toward goals and objectives.

• Uses established procedures to perform assigned tasks.
• Instructions may be detailed for new assignments.

• No responsibility for supervising others.
• Works under supervision using established techniques and standards; work may be reviewed for soundness of judgment and accuracy.

• Working knowledge of fundamental concepts, practices, and procedures of the department/field.
• Knowledge of Black Knight MSP system preferred.
• Knowledge of CFPB and FDCPA guidelines preferred.
• Risk assessment skills; organized and self-motivated with ability to meet strict deadlines.
• Persuasive and professional communication skills; strong customer service; strong verbal and written communication.
• Attention to detail and consistency in results; ability to learn rules, regulations, and laws to meet guidelines; establishes effective working relationships at the workgroup level.

• High School diploma or equivalent
• Some college preferred
• 1-3 years of experience in Collections, Loss Mitigation, mortgage servicing, or real estate related fields
• 1-3 years of mortgage servicing Loss Mitigation Underwriting experience strongly preferred

The above statements describe the general nature and level of work performed by people assigned to this classification. They are not exhaustive. All personnel may be required to perform duties outside of normal work hours as needed.

Pay Range: $26.88 - $35.82 hourly, Remote. This hiring range is a reasonable estimate of base pay at the time of posting and may be based on factors…