Loss Mitigation Underwriter

Selene Finance LP•Dallas, TX

10d

About The Position

The Loss Mitigation Underwriter is responsible for evaluating delinquent and distressed mortgage loans to determine eligibility for home retention and liquidation solutions, including loan modifications, repayment plans, short sales, and deeds-in-lieu of foreclosure. This role applies investor, insurer, and regulatory guidelines to analyze borrower financials, assess workout options, and make prudent underwriting decisions that balance borrower assistance with portfolio performance. Successful candidates will possess strong analytical skills, attention to detail, and a thorough understanding of mortgage servicing and loss mitigation programs.

Requirements

High school diploma or equivalent required
Knowledge of loan modification programs, repayment plans, foreclosure alternatives, and investor guidelines (Fannie Mae, Freddie Mac, FHA, VA, USDA, private investors).
Strong analytical and financial assessment skills with the ability to interpret borrower income, expenses, assets, and hardship documentation.
Exceptional attention to detail and commitment to accuracy.
Ability to manage multiple priorities and meet deadlines in a fast-paced, production-driven environment.
Excellent verbal and written communication skills.
Strong customer service orientation and ability to work collaboratively across departments.
Sound judgment and decision-making skills.
Proficiency in Microsoft Office and mortgage servicing platforms.

Nice To Haves

bachelor's degree preferred.
2+ years of experience in mortgage servicing, loss mitigation underwriting, default servicing, or a related mortgage operations function preferred.

Responsibilities

Underwrite and evaluate mortgage loans for eligibility under repayment plans, loan modifications, short sales, and deeds-in-lieu of foreclosure based on investor, insurer, and regulatory requirements.
Review borrower financial documentation and loss mitigation applications to assess affordability, hardship, and workout eligibility.
Identify incomplete or missing documentation and issue deficiency notices to obtain required information.
Prepare and generate approval, denial, and adverse action notices in compliance with applicable laws, regulations, and investor guidelines.
Ensure underwriting decisions align with Fair Lending standards and applicable compliance requirements.
Collaborate with internal teams, including Mortgage Specialists and Closing Coordinators, to collect documentation and facilitate timely resolution of workout requests.
Maintain current knowledge of investor programs, GSE requirements, insurer guidelines, and evolving loss mitigation regulations.
Accurately document loan activity, decisions, and investor approvals within servicing systems and workflow tools.
Complete escrow analyses, payment calculations, and pro forma modification reviews to determine sustainable borrower solutions.
Meet established productivity, quality, and portfolio performance metrics, including workout conversion goals.