Foreclosure Prevention & Loss Mitigation Specialist

University Bank; Michigan; Hybrid; USD 50,000 - 70,000; Full time

Job summary

University Bank is seeking a Loss Mitigation Specialist to help reduce foreclosure risk by working directly with delinquent borrowers and evaluating financials for sustainable home retention or liquidation options.

The role involves counseling borrowers, aligning with investor and insurer guidelines, and ensuring all loss mitigation reviews meet regulatory requirements. Collaboration with mortgage operations and other departments is essential.

Qualifications

• Minimum 3 years of mortgage loss mitigation or default servicing experience.
• Knowledge of investor and insurer loss mitigation guidelines.
• Strong attention to detail and organizational skills.
• Excellent verbal and written communication abilities.

Responsibilities

• Review and validate borrower financial packages for completeness and accuracy.
• Process and monitor workout options in accordance with governing guidelines.
• Ensure compliance with federal and state regulations in underwriting reviews.
• Communicate with borrowers, investors, and stakeholders to develop mitigation strategies.
• Collaborate with internal teams to ensure accurate system updates and reporting.
• Provide counseling to delinquent borrowers and participate in mitigation calls.

Skills

Mortgage loss mitigation

Regulatory compliance

Communication skills

Detail orientation

Time management

Problem solving

Team collaboration

Education

High school diploma

Mortgage servicing certification (preferred)

Tools

ICE MSP

MSP

LMS

FHA Connection

Microsoft Office

Job description

University Bank is seeking a Loss Mitigation Specialist to help reduce foreclosure risk by working directly with delinquent borrowers and evaluating financials for sustainable home retention or liquidation options.

The role involves counseling borrowers, aligning with investor and insurer guidelines, and ensuring all loss mitigation reviews meet regulatory requirements. Collaboration with mortgage operations and other departments is essential.