Loss Mitigation, Underwriter l

Carrington Mortgage•Orange, CA

18d•Remote

About The Position

The Loss Mitigation Underwriter I underwrites Loan Modification applications in accordance with Treasury, Company, and Investor guidelines, as well as company policies and procedures. Under general supervision, the role makes sound underwriting decisions and ensures decisions meet legal and policy requirements. This is the entry-level position in the job family and generally handles the least complex underwriting files while building knowledge and experience with more complex files. The position is remote. 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 thoroughly to assess loan quality and compliance with Treasury, Company, and Investor guidelines.
Conduct Verification of Income (VOI).
Calculate customers’ front- 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.
When applicable, identify the types and amounts of liquid assets held by the borrower.
Determine and communicate conditions needed to properly document the file, 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 the final decision and update the system of record.
Perform duties in accordance with company policies and procedures and applicable US state and federal laws and regulations.