Loss Mitigation Mortgage Specialist

Lake Michigan Credit Union; Grand Rapids Charter Township (MI); Hybrid; USD 42,000 - 66,000; Full time

Job summary

Lake Michigan Credit Union is seeking a Loss Mitigation Mortgage Specialist to monitor delinquent and foreclosure files, review borrower situations, gather required documentation, and apply approved loss mitigation options. The role emphasizes adherence to government and investor guidelines and collaboration with attorneys and internal partners.

You will maintain detailed logs, support servicing actions, and ensure timely progression while upholding the credit union’s values and customer-focused

Qualifications

• Experience with mortgage loan collection procedures and regulations.
• Knowledge of government and investor guidelines (FNMA, FHLMC, FHA, VA).
• Ability to review hardship documents and determine eligibility.

Responsibilities

• Manages delinquent and foreclosure accounts using established workflows.
• Reviews borrower situations, gathers documents, and applies loss mitigation options.
• Escalates exceptions and policy questions to leadership as needed.
• Maintains logs and supports timely servicing actions.

Skills

Communication with members

Documentation handling

Log maintenance

Professionalism & accountability

Education

High school diploma or equivalent

Job description

Primary Location:Employee Status: Full-Time | Part-TimeWorkplace Type: Fully Remote | Hybrid | Fully On-SiteWho we are:At LMCU, you'll find more than just a job - discover a fulfilling career where your contributions truly matter. Join our talented team at Lake Michigan Credit Union and discover the difference an employer who puts people first can make in your career and life.About this position:The Loss Mitigation Mortgage Specialist is responsible for daily monitoring of all Mortgages seeking loss mitigation options or in the Foreclosure process and ensuring that all Government and Lake Michigan Credit Union guidelines, policies and procedures are always followed. Monitoring includes but is not limited to the following: Phone calls to Members, review accounts for all possible loss mitigation options, follow up with attorneys, double-check accounts to ensure all foreclosure timelines are met. Ensure we are working with all updated policies and procedures and maintain logs for accuracy verification while providing assistance and support.What you’ll do:Manages assigned delinquent and foreclosure accounts using established workflows. Reviews borrower situations, gathers documentation, follows up on required items, and apply approved loss mitigation options with guidance.Applies current investor, insurer, and internal servicing requirements to routine files. Escalates exceptions, timeline concerns, and policy questions to leadership or senior staff.Monitors foreclosure milestones, attorney follow-up, and required servicing actions to support timely progression and appropriate intervention opportunities.Communicates professionally with members, attorneys, vendors, and internal partners regarding documentation, status updates, and next steps on assigned files.Reviews hardship packages and supporting documentation for completeness and eligibility based on defined criteria and required timeframes.Maintains accurate logs and follows established procedures. Share observations on process issues and participates in training as needed.Demonstrates professionalism, accountability, service, and alignment with organizational values in daily interactions and work quality.Adhere to and champion our core values of curious minds, collaborative hearts, and continuous excellence.Safely operate a vehicle in all types of weather conditions when required to be on location.Must comply with applicable laws and regulations, including but not limited to, the Bank Secrecy Act, the Patriot Act, and the Office of Foreign Assets Control.What you’ll bring:A minimum of one year up to three years of similar or related experience, including preparatory experience.A high school degree or equivalent.A valid driver’s license and clean driving record required.Knowledge of FNMA, FHLMC, MLNF, FHA, and VA loan investor requirements.Knowledge of mortgage loan collection procedures and related laws and regulations.Understanding investor delinquent reporting requirements, policies, and procedures.General understanding of U.S. Bankruptcy Code and foreclosure processes.Knowledge of payoff and re-conveyance time requirements.Knowledge of PMI and FHA mortgage insurance policiesFreddie Mac /Fannie Mae servicing experience preferred.What you’ll get:All Employees: weekly pay and retirement savings options.Full Time Employees: comprehensive health coverage including medical (with prescription), dental, vision, HSA match, paid parental leave, and tuition reimbursement.To see a full list of our benefit offerings, check out this helpful guide!Have additional questions about the role? Email the Talent Acquisition Team at: [e-mail] you lack access to the internet or require an accommodation in the application process, please send your resume via mail to P.O. BOX 2848, Grand Rapids, MI 49501-2848.LMCU is an Equal Opportunity Employer