Loss Mitigation Underwriter
About The Position
The Loss Mitigation Underwriter manages a portfolio of current to severely delinquent accounts for which borrowers have requested loss mitigation assistance. The role reviews credit bureau reports, tax returns, financial statements, pay stubs, bank statements, and other supporting documentation to verify borrowers’ financial circumstances and determine appropriate foreclosure alternatives. The underwriter evaluates loss mitigation options using FHA, VA, USDA, FNMA, and FHLMC waterfall, retention, disposition, income, and expense guidelines. Available solutions include repayment plans, loan modifications, pre-foreclosure sales, and mortgage release. The role recommends actions within investor timeframes, works with the Borrower Advocate team on follow-up and decisions, and maintains required quality and production standards. The anticipated annual base pay is $25.96 to $33.70 per hour nationally. Actual compensation depends on skills, experience, qualifications, and work location.
Requirements
- At least 3 years of Loss Mitigation Underwriting experience.
- Experience working in MSP/Black Knight.
Nice To Haves
- Bachelor’s degree preferred.
Responsibilities
- Underwrite loans for loss mitigation in accordance with FHA, VA, USDA, FNMA, and FHLMC guidelines, and decide waterfall options for borrowers seeking workout assistance.
- Recommend loss mitigation actions on requests for proposed foreclosure alternatives within investor-established timeframes.
- Independently maintain a portfolio of 100 or more loans while meeting investor, departmental, and company guidelines.
- Work directly with the Borrower Advocate team on loss mitigation follow-ups, approvals, and denials.
- Review financial documents and apply a thorough understanding of credit risk.
- Read and interpret title searches and address outstanding judgments, liens, and related items.
- Maintain quality control and production standards defined by loanDepot.
Benefits
- Extensive internal growth and professional development opportunities, including tuition reimbursement.
- Comprehensive benefits package including medical, dental, and vision coverage.
- Wellness program supporting mental and physical health.
- Aggressive compensation package based on experience and skill set.
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What This Job Offers
Job Type
Full-time
Career Level
Mid Level
Education Level
No Education Listed
