Loss Mitigation Underwriter

loanDepot • Plano, TX

8d

About The Position

The Loss Mitigation Underwriter manages a portfolio of current to severely delinquent accounts for borrowers requesting loss mitigation assistance. The role reviews credit bureau reports, tax returns, financial statements, pay stubs, bank statements, and other supporting documents to verify borrowers’ financial situations and determine appropriate foreclosure alternatives. It applies FHA, VA, USDA, FNMA, and FHLMC waterfall guidelines and evaluates options including repayment plans, loan modifications, pre-foreclosure sales, and mortgage release. The underwriter applies investor income and expense calculation requirements and works to mitigate losses for investors and the company.

The position independently manages a portfolio of 100 or more loans, recommends decisions within investor timeframes, and works with the Borrower Advocate team on follow-up, approvals, and denials. It also requires reviewing credit risk and financial documents, interpreting title searches, resolving outstanding judgments and liens, and meeting company quality-control and production standards.

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 loss mitigation loans in accordance with FHA, VA, USDA, FNMA, and FHLMC guidelines and decide applicable loss mitigation waterfall options for borrowers seeking assistance.
• Recommend loss mitigation actions 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 assess credit risk.
• Read and interpret title searches and resolve outstanding judgments, liens, and related issues.
• Maintain quality control and production standards defined by loanDepot.

Benefits

• Aggressive compensation package based on experience and skill set.
• Inclusive, diverse, and collaborative culture.
• Internal growth and professional development opportunities, including tuition reimbursement.
• Medical, dental, and vision benefits.
• Wellness program supporting mental and physical health.

What This Job Offers

• Job Type: Full-time
• Career Level: Mid Level
• Education Level: No Education Listed