Loss Mitigation Specialist

TEKsystems•San Diego, CA

2d•$24 - $24•Remote

About The Position

The role is responsible for acting as a single point of contact for Loss Mitigation activities. This role works directly with borrowers experiencing financial hardships to identify homeownership retention options for eligible FNMA, FHLMC, USDA, FHA, and VA loans. Activities include, but not limited to, missing document follow-up, communicating approval and/or denial decisions associated with the Loss Mitigation evaluation, monitoring trial payment plans, and educating borrowers on Loss Mitigation programs in accordance with established investor/insurer, state, and federal guidelines/regulations. The SPOC will serve as a subject-matter-expert for assigned loan product(s) to ensure compliance with investor/insurer and/or regulatory guidelines by communicating with borrowers to explain loss mitigation options and how to apply for assistance, while properly documenting communications within the servicing system. Effectively communicate Loss Mitigation workout evaluation outcomes (approval or denial), including modifications, payment deferrals/partial claims, forbearance, short-sale and DIL workouts in accordance with investor/insurer guidelines, while maintaining a professional demeaner. Coordinate the receipt of all necessary documents and notify the borrower of any required documents necessary to complete the Loss Mitigation application. Effectively and independently manage an assigned work queue to ensure complete, accurate, and timely communications with the borrower. Assist with borrower mediations, meetings, and calls; provide loss mitigation options, communicate options, and follow up with borrows to obtain outstanding lien or judgment information. Assist with internal and external audit preparations, post-audit findings to investors, and any other exam activities, as assigned. Work with potential successors to educate them on documentation requirements to establish successor-in-interest status, including follow-up to communication to encourage the timely return of required documents. Review written communication prior to sending to borrowers’ for completeness and accuracy. Respond to escalated borrower phone calls and provide detailed, thorough explanations of denials and approvals, calculations, and criteria. Ensures compliance with applicable federal, state, and local laws and regulations. Completes all required compliance training. Maintain knowledge of and adhere to Guild’s internal compliance policies and procedures.

Requirements

loss mitigation
customer service skills
loan documents
mathematics
mortgage

Responsibilities

Act as a single point of contact for Loss Mitigation activities.
Work directly with borrowers experiencing financial hardships to identify homeownership retention options for eligible FNMA, FHLMC, USDA, FHA, and VA loans.
Communicate approval and/or denial decisions associated with the Loss Mitigation evaluation.
Monitor trial payment plans.
Educate borrowers on Loss Mitigation programs in accordance with established investor/insurer, state, and federal guidelines/regulations.
Serve as a subject-matter-expert for assigned loan product(s) to ensure compliance with investor/insurer and/or regulatory guidelines by communicating with borrowers to explain loss mitigation options and how to apply for assistance, while properly documenting communications within the servicing system.
Effectively communicate Loss Mitigation workout evaluation outcomes (approval or denial), including modifications, payment deferrals/partial claims, forbearance, short-sale and DIL workouts in accordance with investor/insurer guidelines, while maintaining a professional demeaner.
Coordinate the receipt of all necessary documents and notify the borrower of any required documents necessary to complete the Loss Mitigation application.
Effectively and independently manage an assigned work queue to ensure complete, accurate, and timely communications with the borrower.
Assist with borrower mediations, meetings, and calls; provide loss mitigation options, communicate options, and follow up with borrows to obtain outstanding lien or judgment information.
Assist with internal and external audit preparations, post-audit findings to investors, and any other exam activities, as assigned.
Work with potential successors to educate them on documentation requirements to establish successor-in-interest status, including follow-up to communication to encourage the timely return of required documents.
Review written communication prior to sending to borrowers’ for completeness and accuracy.
Respond to escalated borrower phone calls and provide detailed, thorough explanations of denials and approvals, calculations, and criteria.
Ensures compliance with applicable federal, state, and local laws and regulations.
Completes all required compliance training.
Maintain knowledge of and adhere to Guild’s internal compliance policies and procedures.