Underwriter - Loss Mitigation - REMOTE

First American•Usa, SC

11d•Remote

About The Position

The Underwriter - Loss Mitigation reviews applications and related documentation to assess risk, coverage, and homeowner eligibility for loss mitigation options. The role calculates borrower income, expenses, and escrow advances; manages a caseload from application through modification or other resolution; reports information to investors, clients, and insurers; and keeps system-of-record and investor-portal information current. The position operates in accordance with standard operating procedures and applicable government, investor, insurer, and client guidelines, with a focus on service quality, customer experience, and timely processing. The underwriter evaluates options such as loan modifications, forbearance and repayment plans, short sales, and deeds in lieu. Duties include communicating with homeowners and other parties, preparing plan and approval or denial documents, tracking payment and plan status, requesting foreclosure holds and approvals when required, and contributing to team objectives and process improvements. The position works under supervision using established procedures; work may be reviewed for judgment and accuracy. No supervision of others is required.

Requirements

High school diploma or equivalent.
1–3 years of experience in collections, loss mitigation, mortgage banking, mortgage servicing, or real estate-related work.
Working knowledge of fundamental concepts, practices, and procedures in the department or field.
Risk assessment skills.
Organized and self-motivated, with the ability to meet strict deadlines.
Persuasive and professional communication skills.
Strong customer service skills.
Strong verbal and written communication skills.
Attention to detail and concern for accuracy and consistency.
Ability to learn rules, regulations, and laws and meet state, investor, client, and insurer guidelines.
Ability to establish effective working relationships at the work-group level.

Nice To Haves

Some college preferred.
Knowledge of the Black Knight MSP system preferred.
Knowledge of Consumer Financial Protection Bureau (CFPB) and Fair Debt Collection Practices Act (FDCPA) guidelines preferred.
1–3 years of mortgage servicing loss mitigation underwriting experience strongly preferred.

Responsibilities

Review and evaluate applications, renewals, re-pricings, restrictions, and cancellations to determine risk acceptability and coverage.
Review loss mitigation package documentation to determine whether homeowners qualify for a loss mitigation option.
Report information to investors, clients, and insurers.
Educate homeowners about applicable loan modification, forbearance, repayment, short sale, and deed-in-lieu options.
Calculate income, expenses, and escrow advances according to departmental and investor, insurer, and client guidelines.
Order and review title searches and BPOs, AVMs, or appraisals as applicable.
Review and implement loan modifications, forbearances, repayment terms, short sales, and deeds in lieu in accordance with applicable guidelines.
For short sales, review marketing strategies, listing history, and offer activity; resolve counteroffers according to procedures and guidelines.
Request and follow up on foreclosure holds as necessary.
Submit loss mitigation requests to investors, clients, or mortgage insurers for approval when required.
Decline files according to procedures and guidelines and send appropriate denial letters when homeowners do not qualify.
Prepare and send trial-period, forbearance, and repayment-plan documents, short-sale approval and closing letters, and decline letters as needed.
Monitor repayment plans, forbearance plans, and trial-period plans; update MSP and investor systems of record with payment records as needed.
Answer inbound calls, return voicemails, respond to escalations, and address other requests within 24 hours of receipt.
Contact homeowners and real estate agents with loss mitigation file status updates.
Maintain a caseload of files as established by the department.
Manage written and verbal correspondence with homeowners, clients, investors, insurers, subordinate lien holders, real estate agents, consumer credit counseling services, and foreclosure attorneys.
Follow functional-area processes and procedures, troubleshoot as needed, and recommend improvements to operations.
Contribute to team results and work toward goals and objectives.