Customer Service Rep - Loss & Mitigation

ascendingdc; Richmond (VA); On-site; USD 60,000 - 75,000; Full time

Job summary

ascendingdc in Richmond, VA is seeking a Loss Mitigation Specialist for a one-year onsite role. You will evaluate delinquent accounts, negotiate workout options, and prepare documentation to minimize financial loss.

The ideal candidate has 1–3 years in collections or customer service, experience with loan modifications or payment plans, and strong analytical and communication skills; familiarity with case management software and Microsoft Office is a plus.

Qualifications

• 1–3 years in collections, customer service, or related financial services.
• Experience with loan modifications, payment plans, or foreclosure prevention preferred.
• Knowledge of federal and state guidelines applicable to loss mitigation.
• Excellent communication, negotiation, and customer service skills.
• Strong analytical abilities and attention to detail.
• Proficiency with Microsoft Office and case management software.
• Ability to work independently, manage multiple priorities, and meet deadlines.

Responsibilities

• Review, analyze, and manage a portfolio of delinquent accounts to identify risks and recommend effective workout strategies.
• Communicate with clients to evaluate financial situations and determine loss mitigation solutions (e.g., loan modifications, payment plans, forbearance).
• Prepare and process all loss mitigation documentation, ensuring completeness and regulatory compliance.
• Collaborate with internal teams, legal representatives, and external agencies to resolve problem accounts.
• Maintain detailed records of activities, decisions, and communications in the case management system.
• Adhere to federal, state, investor, and company guidelines and timeframes for review and processing.
• Provide updates and reporting to management regarding account status, risk trends, and portfolio performance.
• Contribute to ongoing process improvements for loss mitigation operations.

Skills

Collections experience

Customer service

Negotiation

Analytical skills

Attention to detail

Communication skills

Ability to meet deadlines

Tools

Microsoft Office

Case management software

Job description

Loss Mitigation Specialist
Location: Onsite – Richmond, VA
1 year contract

The Loss Mitigation Specialist is responsible for evaluating and resolving delinquent accounts, working with clients to find sustainable solutions, and minimizing financial loss to the organization. This role requires strong analytical skills, attention to detail, and a customer-focused approach to negotiate workout options, handle documentation, and ensure compliance with company policies and regulatory guidelines. The position is a one-year contract, based onsite in Richmond, VA.

Key Responsibilities:

• Review, analyze, and manage a portfolio of delinquent accounts to identify risks and recommend effective workout strategies.
• Communicate directly with clients to evaluate their financial situation and determine appropriate loss mitigation solutions, such as loan modifications, payment plans, or forbearance agreements.
• Prepare and process all required loss mitigation documentation, ensuring completeness, accuracy, and regulatory compliance.
• Collaborate with internal teams, legal representatives, and external agencies as needed to expedite resolution of problem accounts.
• Maintain detailed records of all activities, decisions, and communications in the case management system.
• Adhere to federal, state, investor, and company guidelines and timeframes for loss mitigation review and processing.
• Provide ongoing updates and reporting to management regarding account status, risk trends, and portfolio performance.
• Contribute to continuous process improvements for loss mitigation operations.

Qualifications:

• 1-3 years of experience in collections, customer service, or a related financial services role.
• Experience with loan modifications, payment plans, or foreclosure prevention preferred.
• Knowledge of federal and state guidelines applicable to loss mitigation.
• Exceptional communication, negotiation, and customer service skills.
• Strong analytical abilities and attention to detail.
• Proficiency with Microsoft Office and case management software.
• Ability to work independently, manage multiple priorities, and meet deadlines in a fast-paced environment.