Loss Mitigation Mortgage Specialist

LMCU•Glenwood, MN

1d•Onsite

About The Position

The Loss Mitigation Mortgage Specialist role is responsible for performing collection activities on delinquent mortgage loans. Follows-up on problem accounts from preliminary phone calls through foreclosure as necessary. Reviews delinquent accounts assigned from early default, determines probable reasons for account status, and contacts members to resolve the delinquencies. Utilizes various techniques, as circumstances indicate, to mitigate loss potential. Provides support and assistance to area personnel and ensures that the Credit Union’s professional image is maintained.

Requirements

One to three years of similar or related experience.
Working knowledge of FNMA, FHLMC, MLNF, FHA, and VA loan investor requirements.
Working knowledge of mortgage loan collection procedures and related laws and regulations.
Working knowledge of investor delinquent reporting requirements, policies, and procedures.
General understanding of U.S. Bankruptcy Code and foreclosure processes.
Working knowledge of payoff and re conveyance time requirements.
Working knowledge of PMI and FHA mortgage insurance policies.

Nice To Haves

Freddie Mac /Fannie Mae servicing experience preferred.

Responsibilities

Works all foreclosure files to ensure required timelines, guidelines, polices & procedures are followed.
Reviewing all USDA, FHA, RD, VA, FNMA & FMAC incoming hardship packages.
Reviewing all CFPB, USDA, FHA, RD, VA, FNMA & FMAC updates & reviews with management on any upcoming changes.
Adhere to and champion our core values of curious minds, collaborative hearts, and continuous excellence.