Loss Mitigation Representative

The Loss Mitigation Representative plays a crucial role in supporting homeowners facing financial challenges to find solutions that allow them to keep their homes. They provide invaluable assistance in navigating through difficult times and help people maintain stability in their lives. While the role may occasionally involve difficult decisions, the primary focus is on preserving home ownership and fostering a sense of security for individuals and families during tough times.

The individual in this role will perform loss mitigation, counseling, and related administrative tasks associated with delinquent real estate loans. You will evaluate financial information for alternative solutions to foreclosure and implement home retention or liquidation workout options.

• Contact and counsel delinquent mortgage loan customers on options available to them. Work with them on ways to resolve their delinquency and when appropriate refer them to additional credit counseling services.
• Prepare a variety of documents available in the loss mitigation workout hierarchy: modifications, forbearances, and/or repayment plans, and work with the borrowers to obtain the proper signatures.
• Access investor sites and submit information gathered and required for workout approval.
• Prepare documentation for attorney files on mortgage loan foreclosure accounts.
• Record, track, and pay expenses associated with legal fees and property maintenance for loans in mitigation, foreclosure, and bankruptcy.
• Review and research a variety of reports on lost, insufficient, returned, or misapplied payments. Collect funds from insufficient checks and resolve the lost, returned, or misapplied items by sending detailed posting tasks.

• High school diploma or equivalent.
• One year of collection experience or mortgage lending, processing, or servicing experience preferred.
• Strong customer service skills.
• Excellent verbal and written communication skills.
• Accuracy and attention to detail.
• Ability to work with minimal supervision and exercise independent judgment.
• Ability to multitask in a fast-paced environment.
• Excellent analytical, organizational, time management, and problem-solving abilities.
• Ability to learn, apply and maintain knowledge of mortgage loan collections policies and procedures, including guidelines and regulations of investors, private mortgage insurance companies, USDA, and FHA.
• Through knowledge and understanding of regulatory and compliance issues affecting all aspects of the lending process and the ability to apply such knowledge in day-to-day operations.
• Must maintain a current NMLS registration for this role.