Loss Mitigation Specialist I

Cenlar FSB•Ewing, NJ

1d•Onsite

About The Position

The Loss Mitigation Specialist provides administrative support to the Loss Mitigation Supervisor/Department. This role assists with the entire opening process associated with various loan workouts.

Requirements

High School diploma or GED required
1 to 2 years of experience in a general office environment with experience in residential mortgage servicing preferred
Knowledge of LPS Loss Mitigation Workstation preferred but not required
Excellent verbal and written communication skills
Organized and self-motivated
Ability to meet strict deadlines
Ability to work with minimal to moderate supervision
45-50 wpm with reasonable accuracy
Ability to use and/or learn industry related software specific to Cenlar and the department.
Utilize standard business related software is required to include, but not limited to: MS Office, MS Word, MS Excel
Understanding of Requirements under the Fair Debt Collections Practices Act (FDCPA), specifically Prohibitions on Contact with Debtors, Disclosing Debt, and the Mini-Miranda. In addition, you should know FDCPA requirements for Handling of Disputes, Applying Payments and Complying with Cease and Desist Requests.
Understanding of Requirements under the Telephone Consumer Protection Act (TCPA), specifically Restrictions on Timing of Calls and Phone Contact.
Understanding of Requirements under the Real Estate Settlement Procedures Act (RESPA), specifically Early Intervention and Continuity of Contact.
Understanding of Requirements under the Truth in Lending Act (TILA), specifically crediting of payments and requests for payoff amounts.
Understanding of Requirements under the NACHA Rules and Electronic Funds Transfer Act (EFTA), specifically those rules pertaining to taking ACH payments over the phone.
Understanding of Requirements under the Fair Credit Reporting Act (FCRA), specifically handling credit bureau disputes.
Understanding of Requirements under the Service members Civil Relief Act (SCRA), specifically the rights and protections afforded to Service members.
Understanding of Requirements under the Gramm-Leach-Bliley Act (GLBA) and Regulation P, specifically those dealing with protecting customer privacy and consumer financial information.
Understanding of Requirements under the Equal Credit Opportunity Act (ECOA) and the Fair Housing Act (FHA), specifically the general prohibition on discrimination in lending (and servicing).
Understanding of Requirements under the bankruptcy law, specifically the automatic stay from collections.

Responsibilities

Opens all mail, interoffice, Rightfax, e-mails and distribute, as required
Retrieves Loss Mitigation queue voice mails and redistribute as needed. May require emailing other staff to inform them of the voice mail content
Scans and inventories all applicable documents into appropriate imaging module and/or retrieve pertinent documents
Confirms accurate set-up of loss mitigation workstation in LPS
Reviews documentation received to determine if required documentation is complete
Sends letters where loss mitigation file is not complete
Assigns completed loss mitigation packages to underwriter
Orders credit bureau report, title or bring down, appraisal and/or BPO, if applicable
Inputs data into agency model i.e. FNMA HSSN, FHLMC Workout Prospector, VA VALERI, HUD Caviers, if applicable
Produces daily, weekly, and/or monthly internal Loss Mitigation Department reports – to include telecommunication (ACD) and any other internal reporting or report distribution, as required
Prepares investor/insurer/client reports, as required
Pays all third party vendor invoices for the Loss Mitigation Department via New Invoice, manually paid from Corporate Workstation or any other method required
Supports conversion and deconversion activity, as required
Documents the LPS Loss Mitigation Workstation (notes, steps), generate appropriate letters/tasks and adding documents to the imaging system to substantiate the recommendation
Mails Loss Mitigation notices to borrowers in a timely manner
Accurately notates incoming mail and presents mail that needs scanning to the Loss Mitigation Scanner Specialist in a timely manner
Maintains weekly/monthly reports as assigned by the Loss Mitigation Supervisor
Assists the Loss Mitigation Openers daily in administration and various clerical duties
Other duties and projects as assigned
Appropriately assess risk when business decisions are made, include but not limited to compliance and operational risk. Demonstrate consideration for Cenlar’s reputation as well as our clients, by driving compliance with applicable laws, rules and regulations, adhering to Policy, applying sound ethical judgment regarding personal behavior, conduct and business practices, and escalating, managing and reporting control issues, as well as effectively supervise the activity of others and create accountability with those who fail to maintain these standards