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Carrot Peelers, Sales, Personality and Your Job Search
In-House
Legal Staff
Finance - Banking
Min 2 yrs required
Loss Mit Underwriter II The candidate will be responsible for submitting loan modification workups for the entire waterfall of investor workout options. This position will also be responsible for preparing loans for foreclosure mediation hearings, working with various investors and cross training with other areas of loss mitigation. Understand investor waterfalls and required documents for loss mitigation. Manage and monitor account portfolio to ensure that all documentation and account decisions comply with banking policies, investor guidelines and applicable regulations. Assess income and expenses, as well as property value and variance between appraised properties and offers submitted by potential buyers. Serve as liaison to various investors to gain approval for settlements and provide each party with documentation necessary to render a decision. Review workout packages, including hardship letters, tax returns, income statements, pay stubs, credit reports, sources of debt and general customer financial documents to determine the most suitable repayment option for customers. Calculate loan modification terms in adherence with Investor and Insurer guidelines, company policies and applicable state and Federal law and regulations. Communicate with Single Point of Contact, title team and Loss Mitigation Closing team to gather information and resolve escalated accounts. Review, compile and analyze documents (e.g., appraisals, title, arm’s length addenda, HUD 90051) to approve or deny a short sale settlement. Communicate with customers, real estate agents and attorneys to negotiate short sale settlement offers and advise of loss mitigation decisions. Prepare workout summaries for management approval. Maintain notes for management and audit review purposes. Prepare loans for foreclosure mediation hearings. Identify solutions to resolve clouded title. Complete special ad hoc projects as requested by management (e.g., due diligence loan reviews). Responsible for meeting and maintaining registration requirements under the Federal SAFE Act. Adhere to applicable compliance/operational risk controls in accordance with Company or regulatory standards and policies. Maintain company internal control standards, including timely implementation of internal and external audit points together with any issues raised by external regulators as applicable. Promote an environment that supports diversity and reflects the company brand. Will manage and monitor an account portfolio of 70 loans. Complete other related duties as assigned.
Qualification and Experience
The candidate should have a combined 4 years’ higher education and/or experience, including a minimum of 2 years’ collections or underwriting experience. Ability to communicate effectively and professionally over the phone. Excellent communication and customer service skills. Proficiency with word processing and spreadsheet software. Knowledge and understanding of land title. Bachelor’s degree preferred. Paralegal certification or experience. Mortgage collections experience. Knowledge of company systems.
Job no: R02104
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