Loss Mitigation Fulfillment Specialist II

NewRez LLC; Houston (TX); On-site; USD 55,000 - 75,000; Full time

Job summary

Newrez LLC in Houston, TX is seeking a Loss Mitigation Fulfillment Specialist II to manage timely processing of all administrative aspects of Loss Mitigation Fulfillment, including modifications, partial claims, and deferments, in accordance with investor guidelines and servicing system documentation.

The role requires underwriting, document intake, modification processing, and recordation across jurisdictions, with focus on accuracy, regulatory compliance, and coordination with Cash department

Qualifications

• A 4-year college degree in Business Administration or another analytical field preferred.
• Minimum of 2 years’ experience in Mortgage Servicing or an Accounting field.

Responsibilities

• Prepare accurate financial terms to produce Modification, Partial Claim, and Deferment documents.
• Underwrite based on investor criteria to certify approvals for modifications.
• Calculate modification terms according to investor rules and waterfalls.
• Perform QC to ensure accurate capitalization and new loan terms.
• Timely intake and system documentation of Modification, Partial Claim and Deferment documents.
• Coordinate with Cash department for booking Modifications and Deferments and ensure terms are updated in the servicing system.

Skills

Excellent Mathematical Skills

Detailed knowledge of Loss Mitigation

Education

4-year college degree in Business Administration or analytical field

Tools

Microsoft Excel

Microsoft Word

Job description

Who We Are

At Newrez, we bring big thinkers and caring doers together to make home happen. We’re a team built on heart and hustle, united by a commitment to show up for our customers, our communities, and each other. We believe that when our people thrive, homeowners thrive - and that’s why we invest in your growth, wellbeing, and ability to make an impact. Every day, we work to exceed the expectations of our residential mortgage borrowers and business partners through superior service, simple processes, and clear communication. We do this by empowering our employees, encouraging innovative solutions and recognizing great performance.

POSITION SUMMARY

The Loss Mitigation Fulfillment Specialist II is responsible for maintaining timely processing for all administrative aspects of Loss Mitigation Fulfillment workflow to ensure accurate programs are calculated, accounted for, and documented within the servicing system according to Investor guidelines, to include all production of Modifications, Partial Claims, Deferments, and any other applicable Loss Mitigation Workout programs. Performs underwriting, document intake, modification processing, and recordation as required by various jurisdictions, processing pre-foreclosure evaluations, and providing a second look review for any denied workout and performing reviews for any in-flight workouts for transferred loans.

DESCRIPTION

Essential Functions, Duties, and Responsibilities

• Timely creation of accurate financial terms according to individual investor program guidelines to produce final Modification, Partial Claim, and Deferment documents to be sent to homeowners
• Underwriting based on qualifying investor criteria to certify approvals for modifications
• Calculate modification terms according to various investor rules and waterfalls
• Perform QC to ensure mathematical calculations for capitalization and new loan terms are accurate
• Timely intake and system documentation of Modification, Partial Claim and Deferment documents received
• Provide instruction to Cash department with specifics for booking Modifications, Partial Claims and Deferments and ensure all terms are correctly updated within the servicing system
• Process Settlements for Modifications and Deferments in GSE systems within required timeframes
• Facilitate loan buyout from GNMA pools, when necessary, prior to any modification of loan terms according to GNMA guidelines
• Perform pre-foreclosure reviews for qualifying accounts to ensure all reasonable efforts to avoid foreclosure have been met according to regulatory guidelines
• Produce Loss Mitigation Certification documents when required for Foreclosure actions to proceed
• Perform Pre-sale reviews prior to foreclosure sale and provide documentation thereof
• Send Modification documents to the appropriate jurisdiction for recording within required timeframes
• Review and remediate county recording rejections to record modification documents and obtain title policy
• Send recorded collateral documents to document custodian once recorded within investor guidelines
• Perform review to ensure proper status for any in-flight transferred loan.
• Ability to effectively and accurately convey information to others.
• Performs related duties as assigned by management.

Qualifications and Education Requirements

• A 4-year college degree in Business Administration or another analytical field preferred.
• Minimum of 2 years’ experience in Mortgage Servicing or an Accounting field.

Skills, Abilities, and Knowledge

• Excellent Mathematical Skills
• Detailed knowledge of Loss Mitigation program guidelines
• Proficient with Microsoft Excel and Word.

Work Environment and Physical Requirements

• Working on-site at assigned office location.
• Regular and punctual attendance adhering to schedule established by leadership.
• Flexibility to work occasional adjusted work schedules, overtime, and evening and/or weekend hours to meet deadlines or as business needs demand.
• Working in a cubicle hub, maintaining focus on phone calls in a noisy environment within earshot of multiple other conversations.
• Sedentary work in a stationary position at a cubicle for prolonged periods of time.
• Constant repetitive motions required for operating a computer, such as typing and managing phone calls.
• Constantly communicating effectively verbally in English, including accurately exchanging information with others following identification of correct procedures.

Additional Information

While this description is intended to be an accurate reflection of the position’s requirements, it in no way implies/states that these are the only job responsibilities. Management reserves the right to modify, add or remove duties and request other duties, as necessary. All employees are required to have smart phones that meet Company security standards with the ability to install apps such as Microsoft Authenticator. Employment will be contingent on this requirement.

Why Newrez

We’re a great place to work because we invest in what matters: your career, your community, your wellbeing, and your future. Our total rewards package is designed to support your whole self.

Company Benefits

• Medical, dental, and vision insurance
• Health Savings Account with employer contribution
• 401(k) Retirement plan with employer match
• Paid Maternity Leave/Parental Bonding Leave/Caregiver Leave
• Adoption Assistance
• Tuition & Certification reimbursement
• Employee Mortgage Loan Program
• The Newrez Employee Emergency and Disaster Fund is a program to support our team members experiencing hardships
• Newrez NOW: Through Newrez NOW, our Corporate Social Responsibility program, you’ll have opportunities to give back, lead, and make a difference.
• 1 company-paid Volunteer Time Off day (with over 40,000 volunteer hours contributed since our inception)
• Matching Gifts Program - dollar-for-dollar up to $1,000
• Access to grants, nonprofit resources, and volunteer opportunities
• More than $6,000,000 donated since 2020
• 1 in 5 employees participates in at least one Employee Resource Group (ERG)

Equal Employment Opportunity

We’re proud to be an equal opportunity employer- and celebrate our employees' differences, including race, color, religion, sex, sexual orientation, gender identity, national origin, age, disability, and Veteran status. Different makes us better.

Company Overview

In both good economic times and bad, people need homes - and mortgages to buy them. We help these people every day buy homes or refinance their current mortgage loans. In addition to offering an in-demand product, there are two things you should know about us: We value and reward entrepreneurial spirit, and we are growing. Few lenders are as innovative, as financially solid, as well managed and on track to become America’s leading lender as the Newrez Family of Companies. We deliver products and services that turn prospects into delighted customers —providing abundant opportunity for the great people who work here. These competitive advantages set us apart, and they’re why you can grow with us for the long term.