[Remote] Loss Mitigation Underwriter

Note: The job is a remote job and is open to candidates in USA. First American is a leading company in the mortgage servicing industry focused on providing superior technology and personalized service. The Loss Mitigation Underwriter role involves evaluating applications and managing a caseload to determine risk acceptability and assist homeowners with loan modification options.

Responsibilities

• Views and evaluates applications, renewals, re-pricings, restrictions, and cancellations to determine risk acceptability and coverage
• Calculates borrower’s income and expenses to a high standard of accuracy
• Manages a caseload of files including all steps necessary from application to modification
• Updates and notates system of record and investor portals
• Operates according to standard operating procedures and all government and investor regulations
• Achieves goals and objectives with a focus on quality of service and improving the customer experience, while not causing unwarranted delays to processes or defaults
• Reviews and evaluates policy applications, renewals, re-pricings, restrictions, and cancellations to determine risk acceptability and coverage
• Reviews loss mitigation package documentation to determine if the homeowner qualifies for a loss mitigation option
• Reports information to the investor, client, and insurer
• Educates homeowners about loan modification programs, forbearance plans, repayment plans, short sales, and deeds in lieu options as applicable
• Calculates income, expenses, and escrow advances in accordance with departmental and investor/insurer/client guidelines
• Orders and reviews title searches and BPO/AVM/appraisals as applicable
• Reviews and implements according to investor/client/insurer guidelines for loan modifications, forbearances and repayment terms, short sales, and deeds in lieu
• For short sales, reviews marketing strategies, listing history, offer activity
• Resolves counter offers in accordance with departmental procedures and investor/insurer/client guideline
• Requests and follows up on foreclosure holds as necessary
• Submits loss mitigation requests to investor/client/MI for approval as required
• Declines files as directed in accordance with departmental procedures as set forth by investor/client/investor/insurer guidelines and sends appropriate denial letter if homeowner does not qualify for a workout option
• Prepares and sends trial period documents, forbearance plan documents, repayment plan agreements, short sale approval and closing letters and decline letters as needed
• Monitors status of repayment plans, forbearance plans, and trial period plans and update MSP system and investor system of record with payment records as needed
• Answers inbound phone calls, return voicemails, escalations, and all other requests within 24 hours from receipt
• Contacts homeowners and real estate agents to provide status of loss mitigation files
• Maintains a caseload of files as established by the department
• Manages written and verbal correspondence between the homeowners, client, investor, insurer, subordinate lien holders, real estate agents, consumer credit counseling services, and foreclosure attorneys
• Follows functional area’s processes and procedures in daily activities, troubleshoots as needed and recommends suggestions for continuous improvements to overall operations
• Actively contributes to the results of a team and works toward achieving goals and objectives

Skills

• High School diploma or equivalent
• 1-3 years of experience in Collections, Loss Mitigation or other mortgage banking, mortgage servicing or real estate related experience
• 1-3 years of mortgage servicing Loss Mitigation Underwriting experience strongly preferred
• Working knowledge of fundamental concepts, practices and procedures of department/field
• Risk assessment skills
• Organized and self-motivated with ability to meet strict deadlines
• Persuasive and professional communication skills
• Strong Customer Service skills
• Strong verbal and written communication skills
• Demonstrated ability to provide attention to detail and concern for accuracy and consistency in results
• Ability to learn rules, regulations, and laws to meet state, investor, client, and insurer guidelines
• Establishes effective working relationships at the work group level
• Some college preferred
• 1-3 years of mortgage servicing Loss Mitigation Underwriting experience strongly preferred
• Knowledge of Black Knight MSP system preferred
• Knowledge of Consumer Finance Protection Bureau (CFPB) and Fair Debt Collection Practices Act (FDCPA) guidelines preferred

Benefits

• Medical
• Dental
• Vision
• 401k
• PTO/paid sick leave
• Employee stock purchase plan

Company Overview