Loss Mitigation Mortgage Specialist

LMCU•Grand Rapids, MI

2d•Onsite

About The Position

The Loss Mitigation Mortgage Specialist is responsible for daily monitoring of all Mortgages seeking loss mitigation options or in the Foreclosure process and ensuring that all Government and Lake Michigan Credit Union guidelines, policies and procedures are always followed. Monitoring includes but is not limited to the following: Phone calls to Members, review accounts for all possible loss mitigation options, follow up with attorneys, double-check accounts to ensure all foreclosure timelines are met. Ensure we are working with all updated policies and procedures and maintain logs for accuracy verification while providing assistance and support.

Requirements

A minimum of one year up to three years of similar or related experience, including preparatory experience.
A high school degree or equivalent.
A valid driver’s license and clean driving record required.
Knowledge of FNMA, FHLMC, MLNF, FHA, and VA loan investor requirements.
Knowledge of mortgage loan collection procedures and related laws and regulations.
Understanding investor delinquent reporting requirements, policies, and procedures.
General understanding of U.S. Bankruptcy Code and foreclosure processes.
Knowledge of payoff and re-conveyance time requirements.
Knowledge of PMI and FHA mortgage insurance policies

Nice To Haves

Freddie Mac /Fannie Mae servicing experience preferred.

Responsibilities

Manages assigned delinquent and foreclosure accounts using established workflows.
Reviews borrower situations, gathers documentation, follows up on required items, and apply approved loss mitigation options with guidance.
Applies current investor, insurer, and internal servicing requirements to routine files.
Monitors foreclosure milestones, attorney follow-up, and required servicing actions to support timely progression and appropriate intervention opportunities.
Communicates professionally with members, attorneys, vendors, and internal partners regarding documentation, status updates, and next steps on assigned files.
Reviews hardship packages and supporting documentation for completeness and eligibility based on defined criteria and required timeframes.
Maintains accurate logs and follows established procedures.
Share observations on process issues and participates in training as needed.
Demonstrates professionalism, accountability, service, and alignment with organizational values in daily interactions and work quality.
Adhere to and champion our core values of curious minds, collaborative hearts, and continuous excellence.
Safely operate a vehicle in all types of weather conditions when required to be on location.
Must comply with applicable laws and regulations, including but not limited to, the Bank Secrecy Act, the Patriot Act, and the Office of Foreign Assets Control.