Loss Mitigation Specialist

Jobtailor; Plano (TX); On-site; USD 42,000 - 54,000; Full time

Job summary

Jobtailor seeks a mortgage servicing professional in Plano to handle borrower outreach, evaluate loss mitigation options, and guide clients through payment negotiations and modification steps.

Role requires 1+ year in collections or loss mitigation within mortgage servicing, with NMLS licensing pursued within 6 months. Strong MS Office skills and knowledge of government programs are preferred.

Qualifications

• At least 1 year of experience in collections, loss mitigation, or call center within mortgage servicing.
• Familiarity with FHA, VA, USDA, FNMA and FHLMC Government programs is preferred.
• Proficient in Microsoft Office and standard mortgage documentation.
• NMLS license must be obtained within 6 months of joining the role.
• Strong communication and accuracy in handling borrower inquiries and paperwork.

Responsibilities

• Handle inbound calls via IVR and transfers to determine borrowers' intent and discuss options.
• Follow up on signed trial agreements, repayment plans and modification documents.
• Communicate approval/denial of loss mitigation options and answer account questions.
• Review hardship documentation to select best short- or long-term work-out.
• Advise on liquidation options in denial cases and route to liquidation team.
• Provide information on title issues affecting modification finalization.
• Maintain attendance to fulfill duties and responsibilities.
• Explain delinquency resolution options, actions required by borrower and timing.
• Notify Intake about missing or unacceptable documents.
• Be knowledgeable about the delinquency resolution process and escalation channels.
• Assist borrowers requesting to escalate complaints and provide help contacts.

Skills

Collections experience

Loss mitigation experience

Call center experience

Mortgage servicing knowledge

Education

NMLS licensing within 6 months

Tools

Microsoft Office

Job description

Responsibilities

• Handle inbound calls routed through IVR as well as internal transfers to determine borrowers’ intent to retain property, discuss foreclosure alternatives, provide eligibility criteria/information.
• Make outbound calls on all assigned loans in pipeline to follow up on collection of signed trial agreements, repay agreements and final loan modification documents.
• Communicate approval or denial of a loss mitigation workout option, and handle general questions regarding account information.
• Reviews borrowers’ financial hardship documentation to determine the best work‑out option, depending upon their current financial status and whether it is a short‑term or long‑term hardship.
• In a denial case engage borrowers’ interest and participation in a loss mitigation liquidation option and route borrower to the loss mitigation liquidation team.
• Provide information to borrowers relating to Title issues that may be impeding finalization of a modification.
• Maintain consistent attendance to ensure fulfillment of essential duties and responsibilities.
• Communicate the options available to the borrower for resolving the delinquency or imminent default, the actions the borrower must take to be considered for those options, the timing requirements for completion of actions by the borrower and the servicer, and the status of the servicer’s evaluation of the borrower for those options.
• Notify the Intake team when it appears that an error may have occurred in Intake regarding missing or unacceptable documents.
• Being knowledgeable about the borrower’s situation and current status in the entire delinquency or imminent default resolution process, including any Loss Mitigation or non‑foreclosure liquidation options.
• Assist borrowers who request to elevate a complaint or dispute a reason for non‑approval, in contacting the servicer’s staff handling Escalated Cases and, upon request, must provide contact information for MHA Help.
• Perform other duties as assigned.

Requirements

• One or more years’ experience in collections, loss mitigation or call center within a mortgage servicing environment required.
• Full State NMLS licensing required within 6 months of entering this job.
• Knowledge of mortgage industry terminology preferred.
• Working knowledge of all Government program requirements and timelines, including FHA, VA, USDA, FNMA and FHLMC.
• Knowledge of Microsoft Suite at an intermediate level required.

Core Competencies

Demonstrates expertise in loss mitigation and collections within the mortgage servicing environment, with a strong understanding of government program requirements and the ability to effectively communicate options to borrowers. Proficient in handling borrower inquiries and documentation while maintaining compliance with industry standards.