Loss Mitigation Specialist

University Bank•Jacksonville, FL

About The Position

The Loss Mitigation Specialist reduces foreclosure risk by working directly with delinquent borrowers to identify sustainable home-retention or liquidation solutions. The role evaluates borrower financial information, counsels borrowers on available options, and ensures loss mitigation reviews are accurate, timely, and compliant with investor, insurer, and regulatory requirements. The specialist reviews borrower financial packages; processes and monitors workout options under applicable agency, government, and private investor guidelines; and communicates with borrowers, credit unions, insurers, attorneys, investors, and internal teams. The position also manages servicing-system and investor-system records, payment posting and suspense activity, assistance-program coordination, and foreclosure holds or cancellations. The specialist provides backup support during periods of high volume or staffing shortages and contributes to training, program updates, and process improvements.

Requirements

High school diploma or equivalent.
At least 3 years of experience in mortgage loss mitigation and related default servicing.
Strong understanding of foreclosure prevention options and regulatory compliance.
Strong attention to detail and organizational skills.
Effective verbal and written communication skills.
Proficiency with Windows and Microsoft Office applications, including Outlook, Word, Excel, and Teams.
Strong typing and data-entry skills.
Ability to maintain positive working relationships with customers, internal teams, and external business partners.
Excellent organizational, time-management, critical-thinking, and analytical skills.
Ability to prioritize tasks, meet deadlines, and follow established procedures accurately.
Ability to handle confidential and sensitive information responsibly.
Ability to build rapport and negotiate business-oriented solutions for escalated issues and complex customer situations.
Effective problem-solving skills and a solutions-oriented mindset.
Dependability, reliability, and accountability in daily responsibilities.
Compliance with applicable regulations, internal controls, departmental procedures, and company policies.

Nice To Haves

Knowledge of loss mitigation guidelines for Fannie Mae, Freddie Mac, FHA/HUD, VA, USDA, FHLB, and private investors.
Certification in credit counseling, collections, or mortgage servicing.
Experience with ICE Mortgage Technology platforms, including MSP and LMS.

Responsibilities

Review and validate borrower financial packages for completeness, accuracy, and required documentation before underwriting evaluation.
Process, evaluate, and monitor workout options under GSE, FHA/HUD, USDA, VA, FHLB, GNMA, and private investor or insurer guidelines, following program timelines and eligibility criteria.
Ensure compliance with federal, state, investor, and insurer requirements, including CFPB mortgage servicing rules under Regulation X and Regulation Z.
Monitor departmental email queues and respond promptly to borrower, investor, and internal stakeholder inquiries.
Communicate with borrowers, credit unions, mortgage insurers, attorneys, and secondary-market investors to develop appropriate workout strategies.
Report approved workout solutions to investors, Treasury programs when applicable, and designated investor or vendor systems.
Counsel delinquent borrowers, including participating in scheduled mitigation calls with attorneys or authorized representatives.
Collaborate with foreclosure, bankruptcy, customer service, and payment processing teams on system updates, payment application, and foreclosure holds or cancellations.
Coordinate with State Housing Assistance Programs and Hardest Hit Fund programs, including submission, tracking, and application of approved assistance.
Maintain accurate servicing records in ICE MSP and LoanSphere, including loss mitigation codes, comments, and status updates.
Complete updates and actions in investor and insurer systems, including FHA Connection, Fannie Mae SMDU, Freddie Mac Resolve, USDA LINC, VA Valeri, and FHLB eMAQCS.
Ensure accurate payment posting and suspense management for loans under review or active workout plans.
Manage shared and individual departmental email inboxes and respond professionally to inquiries.
Provide backup support to team members during high-volume periods or staffing shortages.
Attend required departmental and BAI training sessions.
Review updates to workout programs and assistance initiatives and adopt new requirements and procedural changes in a timely manner.
Provide process feedback, identify workflow gaps, and assist with continuous improvement and best practices.
Perform additional duties as assigned, including special projects, audits, quality-control initiatives, or cross-functional support.