Loss Mitigation Underwriter I

M&T Bank; Getzville (NY); On-site; USD 29,000 - 47,000; Full time

Job summary

M&T Bank seeks a loan modification specialist in Getzville, NY to submit workups for the full waterfall of investor workout options. You will review documents, communicate with customers, agents and attorneys, and determine the best repayment terms for borrowers.

Responsibilities include analyzing income and tax documents, coordinating with loss mitigation teams, and ensuring compliance with banking policies and investor guidelines while delivering accurate workout summaries for management

Qualifications

• 3 years combined higher education and/or experience with at least 1 year in collections or underwriting.
• Ability to communicate professionally over the phone.
• Excellent communication and customer service skills.
• Proficiency with word processing and spreadsheet software.

Responsibilities

• Understand investor waterfall and required documents for loss mitigation.
• Negotiate short sale settlement offers and advise on loss mitigation decisions.
• Manage portfolio to ensure documentation and decisions comply with policies and guidelines.
• Assess property value and variance between appraisals and offers.
• Review tax returns, income statements, pay stubs, credit reports and other financial documents.
• Determine suitable repayment options and calculate loan modification terms.
• Prepare workout summaries for management approval.
• Coordinate with Single Point of Contact, title vendors and Loss Mitigation Closing team.
• Adhere to compliance and regulatory standards.
• Maintain internal controls and address audit findings as applicable.
• Promote inclusive environment and M&T Bank brand.
• Complete other related duties as assigned.

Skills

Communication skills

Customer service

Phone communication

Word processing

Spreadsheet proficiency

Education

Bachelor's degree

Paralegal certification/experience

Tools

Microsoft Word

Excel

Job description

Overview

This position is responsible for submitting loan modification workups for the entire waterfall of investor workout options.

Primary Responsibilities

• Understand investor’s waterfall and required documents for loss mitigation.
• Communicate with customers, real estate agents and attorneys to negotiate short sale settlement offers and advise of loss mitigation decisions.
• Manage and monitor account portfolio to ensure that all documentation and account decisions comply with banking policies, investor guidelines and applicable regulations.
• Assess property value and variance between appraised properties and offers submitted by potential buyers.
• Review tax returns, income statements, pay stubs, credit reports and general customer financial documents.
• Determine the most suitable repayment option for customers and calculate loan modification terms.
• Prepare workout summaries for management approval.
• Communicate with Single Point of Contact, title vendors and Loss Mitigation Closing team to gather information and resolve account complications.
• Adhere to applicable compliance/operational risk controls in accordance with Company or regulatory standards and policies.
• Maintain M&T internal control standards, including timely implementation of internal and external audit points together with any issues raised by external regulators as applicable.
• Promote an environment that supports belonging and reflects the M&T Bank brand.
• Complete other related duties as assigned.

Scope of Responsibilities

Works a portfolio of approximately 70 loans.

Education and Experience Required

A combined 3 years’ higher education and/or experience, including a minimum of 1 year collections or underwriting experience.

Ability to communicate effectively and professionally over the phone.

Excellent communication and customer service skills.

Proficiency with word processing and spreadsheet software.

Education and Experience Preferred

Bachelor’s degree.

Paralegal certification or experience.

Mortgage collections experience.

Knowledge of M&T systems.

M&T Bank is committed to fair, competitive, and market-informed pay for our employees. The pay range for this position is $20.55 - $34.25 Hourly (USD). The successful candidate’s particular combination of knowledge, skills, and experience will inform their specific compensation.

Location

Getzville, New York, United States of America