Underwriter, Loss Mitigation, II

Carrington Mortgage • Phoenix, AZ

2d

About The Position

The Loss Mitigation Underwriter II underwrites loss mitigation applications in accordance with Treasury, company, and investor guidelines and company policies and procedures, under general supervision. The role makes sound underwriting decisions and ensures they meet legal and policy requirements, while complying with applicable U.S. state and federal laws. This is an intermediate-level position that generally handles moderately complex underwriting files while developing knowledge and experience with more complex files.

The target starting pay is $27.50–$30.50 per hour.

Requirements

• High school diploma or equivalent.
• Two to three years of underwriting background or servicing/loss mitigation experience.
• Strong working knowledge of Microsoft Suite, including Word, Excel, and Outlook.
• Ability to understand complex problems, collaborate, and explore alternative solutions.
• Ability to organize and prioritize work on short- and long-term schedules.
• Ability to perform basic arithmetic and record, balance, and check results for accuracy.
• Ability to clearly and accurately communicate ideas verbally or in writing.

Responsibilities

• Analyze loans to assess quality and compliance with Treasury, company, and investor guidelines.
• Conduct verification of income (VOI).
• Calculate borrowers’ front-end and back-end debt-to-income ratios.
• Verify occupancy, hardship, and income.
• Apply the payment waterfall to determine eligibility for workout options, including repayment plans, forbearances, modifications, or liquidation options.
• Identify the types and amounts of liquid assets held by the borrower, when applicable.
• Determine and communicate documentation conditions needed to complete the file, such as a reason-for-default letter, updated pay stubs, or bankruptcy papers.
• Complete system tasks required to maintain compliance with applicable guidelines.
• Document the final decision and update the system of record.
• Perform other duties as assigned.

Benefits

• Comprehensive healthcare plans for employees and their families.
• Discretionary 401(k) match of 50% of the first 4% of pay contributed.
• Employee discounts on fitness, restaurants, retail, and other offerings through the employee portal.
• Customized training programs to support career advancement.
• Employee referral bonuses.
• Educational reimbursement.
• Community involvement through the Carrington Charitable Foundation.

What This Job Offers

• Job Type: Full-time
• Career Level: Mid Level
• Education Level: High school or GED