Loss Mitigation Underwriter II (Safe Act)

mtb; Getzville (NY); On-site; USD 31,000 - 52,000; Full time

Job summary

M&T Bank in Getzville, NY is seeking a Loss Mitigation Specialist to submit loan modification workups and prepare loans for foreclosure mediation, coordinating with investors including Fannie Mae, Freddie Mac, and M&T Bank.

You will review hardship letters, tax returns, income statements, pay stubs, and other financial documents to determine the most suitable repayment options and calculate modification terms in line with guidelines and regulations.

Qualifications

• A combined 4 years' higher education and/or experience, including a minimum of 2 years' 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.
• Knowledge and understanding of land title.

Responsibilities

• Submit loan modification workups per investor guidelines and bank policies.
• Manage and monitor loan portfolios for documentation compliance.
• Assess income/expenses and property value; analyze appraisals vs offers.
• Coordinate with investors (Fannie Mae, Freddie Mac, M&T Bank) for settlements.
• Review workout packages to determine suitable repayment options.
• Calculate loan modification terms per guidelines and laws.
• Communicate with customers, real estate agents, and attorneys to negotiate settlements.
• Prepare workout summaries for management approval and audits.

Skills

Effective communication

Customer service

Phone communication

Word processing & spreadsheets

Education

Bachelor's degree

Paralegal certification

Mortgage collections experience

Tools

Microsoft Word

Microsoft Excel

Job description

Overview:

This position is responsible for submitting loan modification workups for the entire waterfall of investor workout options. This position will also be responsible for preparing loans for foreclosure mediation hearings, working with various investors and cross training with other areas of loss mitigation.

Primary Responsibilities:

• Understand investor waterfalls and required documents for loss mitigation.
• Manage and monitor account portfolio to ensure that all documentation and account decisions comply with banking policies, investor guidelines and applicable regulations.
• Assess income and expenses, as well as property value and variance between appraised properties and offers submitted by potential buyers.
• Serve as liaison to various investors, including, but not limited to Fannie Mae, Freddie Mac and M&T Bank to gain approval for settlements and provide each party with documentation necessary to render a decision.
• Review workout packages, including hardship letters, tax returns, income statements, pay stubs, credit reports, sources of debt and general customer financial documents to determine the most suitable repayment option for customers.
• Calculate loan modification terms in adherence with Investor and Insurer guidelines, M&T policies and applicable state and Federal law and regulations.
• Communicate with Single Point of Contact, title team and Loss Mitigation Closing team to gather information and resolve escalated accounts.
• Review, compile and analyze documents (e.g., appraisals, title, arm's length addenda, HUD 90051) to approve or deny a short sale settlement.
• Communicate with customers, real estate agents and attorneys to negotiate short sale settlement offers and advise of loss mitigation decisions.
• Prepare workout summaries for management approval. Maintain notes for management and audit review purposes.
• Prepare loans for foreclosure mediation hearings.
• Identify solutions to resolve clouded title.
• Complete special ad hoc projects as requested by management (e.g., due diligence loan reviews)
• 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:

• Manages and monitors an account portfolio of 70 loans.

Supervisory/ Managerial Responsibilities:

• Not Applicable.

Education and Experience Required:

• A combined 4 years' higher education and/or experience, including a minimum of 2 years' 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.
• Knowledge and understanding of land title.

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 $22.61 - $37.67 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