Loss Mitigation Underwriter

Selene Finance LP; Carrollton (TX); On-site; USD 65,000 - 90,000; Full time

Benefits offered by this job

Paid Time Off

Medical, Dental & Vision

Employee Assistance Program

401(k) Match

Job summary

Selene Finance LP is seeking a Loss Mitigation Underwriter to evaluate delinquent and distressed mortgage loans and determine eligibility for home retention or liquidation options. You will apply investor, insurer, and regulatory guidelines to analyze borrower finances and recommended workout solutions.

Ideal candidates will have strong analytical skills, attention to detail, and experience in mortgage servicing or loss mitigation underwriting.

Qualifications

• High school diploma or equivalent required; bachelor's degree preferred.
• 2+ years of experience in mortgage servicing, loss mitigation underwriting, default servicing, or related mortgage ops.
• Knowledge of loan modification programs, repayment plans, foreclosure alternatives, investor guidelines.

Responsibilities

• Underwrite loans for eligibility under repayment plans, loan mods, short sales, and deeds-in-lieu of foreclosure per investor, insurer, and regulatory requirements.
• Review borrower financials and loss mitigation applications to assess affordability and workout eligibility.
• Identify missing documents and issue deficiency notices to obtain required information.
• Prepare approval, denial, and adverse action notices following laws, regulations, and investor guidelines.
• Ensure underwriting decisions align with Fair Lending standards and compliance requirements.
• Collaborate with Mortgage Specialists and Closing Coordinators to collect docs and resolve workout requests.
• Maintain knowledge of investor programs, GSE requirements, insurer guidelines, and evolving loss mitigation rules.
• Document loan activity and investor approvals in servicing systems.
• Complete escrow analyses, payment calculations, and pro forma modification reviews.
• Meet productivity, quality, and portfolio performance metrics.

Skills

Analytical skills

Attention to detail

Communication skills

Customer service

MS Office

Education

High school diploma

Bachelor's degree preferred

Tools

Mortgage servicing platforms

Job description

Selene Holdings is a multiple-lines business financial services firm with a mortgage servicing company, a loan diligence company, a title company, an insurance brokerage, and a real estate owned company. We have office locations in Dallas, TX, Jacksonville, FL, and Salt Lake City, UT. Founded in 2007 to address needs in the mortgage industry, Selene strives to provide amazing client and borrower experiences. A positive attitude coupled with proven creative thinking and actions are all attributes we seek in every one of our employees. If you want to make a difference, then Selene is the place for you!

The Loss Mitigation Underwriter is responsible for evaluating delinquent and distressed mortgage loans to determine eligibility for home retention and liquidation solutions, including loan modifications, repayment plans, short sales, and deeds-in-lieu of foreclosure. This role applies investor, insurer, and regulatory guidelines to analyze borrower financials, assess workout options, and make prudent underwriting decisions that balance borrower assistance with portfolio performance. Successful candidates will possess strong analytical skills, attention to detail, and a thorough understanding of mortgage servicing and loss mitigation programs.

Key Responsibilities

• Underwrite and evaluate mortgage loans for eligibility under repayment plans, loan modifications, short sales, and deeds-in-lieu of foreclosure based on investor, insurer, and regulatory requirements.
• Review borrower financial documentation and loss mitigation applications to assess affordability, hardship, and workout eligibility.
• Identify incomplete or missing documentation and issue deficiency notices to obtain required information.
• Prepare and generate approval, denial, and adverse action notices in compliance with applicable laws, regulations, and investor guidelines.
• Ensure underwriting decisions align with Fair Lending standards and applicable compliance requirements.
• Collaborate with internal teams, including Mortgage Specialists and Closing Coordinators, to collect documentation and facilitate timely resolution of workout requests.
• Maintain current knowledge of investor programs, GSE requirements, insurer guidelines, and evolving loss mitigation regulations.
• Accurately document loan activity, decisions, and investor approvals within servicing systems and workflow tools.
• Complete escrow analyses, payment calculations, and pro forma modification reviews to determine sustainable borrower solutions.
• Meet established productivity, quality, and portfolio performance metrics, including workout conversion goals.

Qualifications

• High school diploma or equivalent required; bachelor's degree preferred.
• 2+ years of experience in mortgage servicing, loss mitigation underwriting, default servicing, or a related mortgage operations function preferred.
• Knowledge of loan modification programs, repayment plans, foreclosure alternatives, and investor guidelines (Fannie Mae, Freddie Mac, FHA, VA, USDA, private investors).
• Strong analytical and financial assessment skills with the ability to interpret borrower income, expenses, assets, and hardship documentation.
• Exceptional attention to detail and commitment to accuracy.
• Ability to manage multiple priorities and meet deadlines in a fast-paced, production-driven environment.
• Excellent verbal and written communication skills.
• Strong customer service orientation and ability to work collaboratively across departments.
• Sound judgment and decision-making skills.
• Proficiency in Microsoft Office and mortgage servicing platforms.

Why Selene?

Selene Finance LP is committed to the total wellbeing of its employees and therefore offers one of the best benefits packages available in the industry today, which includes:

Benefits

• Paid Time Off (PTO)
• Medical, Dental & Vision
• Employee Assistance Program
• Flexible Spending Account
• Health Savings Account
• Paid Holidays
• Company paid Life Insurance
• Matching 401(k) Plan

The job requirements listed above are representative of the knowledge, skills, and/or abilities required. This job description is not an inclusive list of all duties and responsibilities of this position. Incumbents will be required to follow any other job-related instructions and to perform any other job-related duties requested by any person authorized to give instructions or assignments. Selene reserves the right to amend and change responsibilities to meet business and organizational needs.

Privacy Policy - Selene (seleneadvantage.com) Selene Holdings is a multiple-lines business financial services firm with a mortgage servicing company, a loan diligence company, a title company, an insurance brokerage, and a real estate owned company. We have office locations in Dallas, TX, Jacksonville, FL, and Salt Lake City, UT. Founded in 2007 to address needs in the mortgage industry, Selene strives to provide amazing client and borrower experiences. A positive attitude coupled with proven creative thinking and actions are all attributes we seek in every one of our employees. If you want to make a difference, then Selene is the place for you!