Mortgage Loss Mitigation Specialist II

Truist•Richmond, VA

1d•$50,000 - $55,000•Remote

About The Position

Perform functions necessary for the timely and accurate evaluation and processing of borrower loss mitigation requests in accordance with regulatory, Bank, Investor, and Insurer requirements. The Loss Mitigation Specialist II is considered to be a subject matter expert on Loss Mitigation matters and is expected to demonstrate leadership in quality, productivity, and the Loss Mitigation Customer experience. Responsible to analyze, negotiate, and formalize retention or liquidation workout solutions. In addition to direct customer contact, works closely with investors, insurers, real estate agents, title companies, attorneys and other third parties to facilitate closure of approved transactions.

Requirements

High School Diploma or equivalent education and/or training required.
One year of mortgage experience or equivalent training and/or education
Strong analytical and organizational skills with great attention to detail
Ability to grasp concepts quickly and make sound decisions
Proficient in Microsoft Office to include Word, Excel and Outlook
Strong customer service skills
Strong verbal and written communication skills
Two years of experience in a direct customer contact, service, collections, loan workout or sales environment or related financial services experience.

Nice To Haves

Bachelor’s Degree
Knowledge of basic collection, mortgage servicing, or default servicing concepts
Supervisory/Management/Leadership experience a plus
Complex Excel formulas and macro’s a plus
Three years of experience in Loss Mitigation / originations processing / loan administration or call center environment.
Leadership or team lead experience a plus

Responsibilities

Ensure all required Reg X/ECOA/Investor/Insurer/Policy requirements and timeframes are met.
Evaluate Borrower Request Packages and request additional information and/or documentation from the clients when required.
Review of borrower financial information including calculation of income and expenses to determine net surplus and debt-to-Ensure all required Reg X/ECOA/Investor/Insurer/Policy requirements and timeframes are met.
Evaluate Borrower Request Packages and request additional information and/or documentation from the clients when required.
Ensure all assigned cases are worked in accordance with regulatory, investor/insurer, and Truist Policy requirements and timelines.
Underwrite files based on investor guidelines, rules and regulations
Complete accurate calculations of workout plan options and including the generation of the workout agreement.
Generation and follow up of Modification Documents including preparing and tracking of recording with the county.
Evaluate short sale purchase offers , valuations, and sales contracts as part of liquidation option review
Communicate with clients regarding missing information, documents clarification, decisions, and follow up’s.
Handle high priority, escalated, and complex cases as assigned
Quality assurance function may include but not limited to case level review at different points of the timeline including complete package/missing information letter review, short sale final closing review, final modification document review, and pre-closing system review.
May represent the department in different mediums including internal and external process review and process improvement initiatives.
Leadership on projects, Procedure updates, and assists in coordinating and delivery of training.
Work with the supervisor researching and responding to audit findings attributed to Loss Mitigation.
Ability to work from home, if required by manager or job function, in accordance with the organizational telecommuting requirements.
Other duties and projects as assigned