Loss Mitigation, Underwriter l

Carrington Mortgage•United States,

20d•$23 - $26•Remote

About The Position

The Loss Mitigation Underwriter I underwrites loan modification applications in accordance with Treasury, company, and investor guidelines, while following company policies and procedures under general supervision. The role makes sound underwriting decisions and ensures decisions meet legal and policy requirements, as well as applicable U.S. state and federal laws and regulations. This is an entry-level position in the job family, generally handling the least complex underwriting files while building knowledge and experience with more complex files. The position is remote and the target pay range is $23.00–$26.00 per hour.

Requirements

High school diploma or equivalent.
1 to 2 years of underwriting loss mitigation experience.

Responsibilities

Analyze loans to assess quality and compliance with Treasury, company, and investor guidelines.
Conduct Verification of Income (VOI).
Calculate customers’ front-end and back-end debt-to-income ratios.
Verify occupancy, hardship, and income.
Apply the payment waterfall to determine workout eligibility, including repayment plans, forbearance, modification, or liquidation options.
Identify the types and amounts of borrowers’ liquid assets, when applicable.
Determine and communicate conditions needed to properly document files, such as a reason-for-default letter, updated pay stubs, or bankruptcy papers.
Complete system tasks required to maintain compliance with Treasury, company, and investor guidelines.
Document final decisions and update the system of record.
Perform duties in accordance with company policies and procedures and applicable state and federal laws and regulations.