Loss Mitigation Coordinator

BOK Financial•Pine Grove Township, PA

1d•Onsite

About The Position

The Loss Mitigation Coordinator is responsible for reviewing paperwork to determine if it is complete after a borrower submits a request for Loss Mitigation assistance application. The Loss Mitigation Coordinator also is responsible to establish what documentation is missing and provide the acknowledgement letter with either the missing items or that the applicant is complete. There are very strict timelines required by the CFPB, OCC and the applicable Investor (GSE, HUD, VA, USDA, and FDIC). The Coordinator is also responsible for timely and accurate follow-up actions required by the CFPB, OCC and the applicable Investor. Timely and accurate performance is critical to successful and timely processing to avoid reputational, regulatory and investor and monetary loss risk.

Requirements

Bachelors and 1-year mortgage experience or GED or High School Diploma.
Strong working knowledge of Fiserv system, file maintenance, English grammar, appropriate standards regarding letters, memorandum, composition, and proper telephone etiquette
Strong PC and software application skills; ability to operate a 10 key by touch
Good math skills and ability to understand/calculate income, expenses, and P&L statements percentages and fractions
General understanding of basic accounting principles
General understanding of department operating practices and procedures
Good interpersonal, verbal, and written communication skills
Flexibility to handle multiple tasks simultaneously in a competent and professional manner
Word / Excel proficient

Nice To Haves

4+ years of Mortgage Servicing or Lending experience preferred.
Experience and/or knowledge of financial markets/products preferred.

Responsibilities

Responsible for the determination of documents that must be obtained from borrowers.
Accountable for the analysis of complex loan and financial documents received and whether they are complete and adequate for underwriter review and in accordance with investor guidelines.
Accountable for compliance with CFPB 5-day package acknowledgement letter and missing items letter requirements and resolve of whether a completed package has been received.
Resolve incomplete packages and give timely generation of incomplete package denial letter within CFPB required timeframe.
Answer 20-30 outbound/inbound phone calls per day to customers and 3rd parties to discuss documents needed and loan status.
Answer inbound communications received from Express Bank and Collections.
Communicate missing documents with borrowers and written/verbal follow-up with compliance within CFPB requirements.
Request loan documents, order credit reports, mails documents, send and receive faxes, scan documents, follow up on documents needed, input data into various systems, send and respond to emails.
Extract information from government sites (FHA, FNMA, FHLMC, VA, HUD,)
Work all incoming mail received.