Loss Mitigation Underwriter I

M&T Bank•Getzville, NY

3d•$21 - $34•Onsite

About The Position

This position is responsible for submitting loan modification workups for the entire waterfall of investor workout options. The role involves understanding investor waterfalls and required documents for loss mitigation, communicating with customers, real estate agents, and attorneys to negotiate short sale settlement offers, and advising on loss mitigation decisions. The underwriter will manage and monitor an account portfolio to ensure compliance with banking policies, investor guidelines, and applicable regulations. This includes assessing property values, reviewing financial documents, determining suitable repayment options, calculating loan modification terms, and preparing workout summaries for management approval. Collaboration with Single Point of Contact, title vendors, and the Loss Mitigation Closing team is essential for gathering information and resolving complications. The role also requires adherence to compliance and operational risk controls, maintaining internal control standards, and promoting an environment that supports belonging and reflects the M&T Bank brand. Other related duties as assigned.

Requirements

A combined 3 years’ higher education and/or experience, including a minimum of 1 year collections or underwriting experience.
Ability to communicate effectively and professionally over the phone.
Excellent communication and customer service skills.
Proficiency with word processing and spreadsheet software.

Nice To Haves

Bachelor’s degree.
Paralegal certification or experience.
Mortgage collections experience.
Knowledge of M&T systems.

Responsibilities

Understand investor’s waterfall and required documents for loss mitigation.
Communicate with customers, real estate agents and attorneys to negotiate short sale settlement offers and advise of loss mitigation decisions.
Manage and monitor account portfolio to ensure that all documentation and account decisions comply with banking policies, investor guidelines and applicable regulations.
Assess property value and variance between appraised properties and offers submitted by potential buyers.
Review tax returns, income statements, pay stubs, credit reports and general customer financial documents.
Determine the most suitable repayment option for customers and calculate loan modification terms.
Prepare workout summaries for management approval.
Communicate with Single Point of Contact, title vendors and Loss Mitigation Closing team to gather information and resolve account complications.
Adhere to applicable compliance/operational risk controls in accordance with Company or regulatory standards and policies.
Maintain M&T internal control standards, including timely implementation of internal and external audit points together with any issues raised by external regulators as applicable.
Promote an environment that supports belonging and reflects the M&T Bank brand.
Complete other related duties as assigned.