Loss Mitigation Associate

University Bank•Hancock, MI

About The Position

General Job Summary The Loss Mitigation Associate is responsible for minimizing foreclosures which includes but is not limited to debt counseling. Ensure loss mitigation financial packages are reviewed timely and properly while complying with investor and insurer regulations. Help as many customers as possible to avoid foreclosure under strict and constantly changing regulatory requirements. Process workouts, reporting to investors and comply with guidelines and regulations as applicable. Summary of Essential Job Functions Review financial packages for completeness. Process workouts and monitor workouts based on GSE, FHA, USDA, VA, FHLB, GNMA and private clients guidelines. Ensure all federal, state and investor guidelines and requirements are adhered to for underwriting review and decision. Monitor & respond to departmental email. Communicate with customers, credit unions, insurers, and secondary market investors to strategize workout programs. Report workouts to investors, Treasury, and investor vendors Counsel delinquent customers and attend via phone periodic mitigation meetings with attorneys. Work with other departments to ensure appropriate changes to the system, payments are applied correctly, and foreclosures are placed on hold or cancelled as appropriate. Work with State Assistance and Hardest Hit Programs Maintain ICE’s MSP and LoanSphere with appropriate codes and comments. Complete updates in FHA Connection, SMDU, FHLMC Resolve, USDA-LINC, VA Valeri, FHLB eMAQCS. Maintain accuracy in payments posted to loans in loss mitigation process. Other Job Functions Attend all training sessions for department. Update and review announcements and changes to workout programs All other duties as assigned by management

Requirements

High school diploma (or equivalent) required
Minimum 2 years of experience in mortgage loss mitigation and related default servicing
Familiarity with GSE, FHA, USDA, VA, FHLB and GNMA loss mitigation guidelines
Strong understanding of foreclosure prevention options and regulatory compliance
Proficiency in loan servicing systems MSP and LMS (ICE)
Strong attention to details and organizational skills
Effective verbal and written communication abilities
Maintain & foster positive relationships with customers and business partners.
Complete all assigned training in a timely manner.
Provide professional communication in both oral & written expression.
Excellent organizational, time management & analytical skills
Organizational skills with ability to prioritize and meet deadlines while maintaining high degree of accuracy.
Ability to manage confidential information.
Strong analytical skills, with the ability to seek out and offer business-oriented solutions.
High degree of dependability
Able to lift up to 20 pounds.
Extended periods of sitting (at computer desk)
Complete repetitive tasks (including operation of computer mouse/keyboard)

Responsibilities

Review financial packages for completeness.
Process workouts and monitor workouts based on GSE, FHA, USDA, VA, FHLB, GNMA and private clients guidelines.
Ensure all federal, state and investor guidelines and requirements are adhered to for underwriting review and decision.
Monitor & respond to departmental email.
Communicate with customers, credit unions, insurers, and secondary market investors to strategize workout programs.
Report workouts to investors, Treasury, and investor vendors
Counsel delinquent customers and attend via phone periodic mitigation meetings with attorneys.
Work with other departments to ensure appropriate changes to the system, payments are applied correctly, and foreclosures are placed on hold or cancelled as appropriate.
Work with State Assistance and Hardest Hit Programs
Maintain ICE’s MSP and LoanSphere with appropriate codes and comments.
Complete updates in FHA Connection, SMDU, FHLMC Resolve, USDA-LINC, VA Valeri, FHLB eMAQCS.
Maintain accuracy in payments posted to loans in loss mitigation process.
Attend all training sessions for department.
Update and review announcements and changes to workout programs
All other duties as assigned by management