Loss Mitigation, Underwriter l

Carrington Holding Company, LLC; United States; On-site; USD 32,000 - 36,000; Full time

Benefits offered by this job

Comprehensive healthcare plans

Discretionary 401(k) match

Employee discounts

Educational Reimbursement

Training programs

Referral bonuses

Job summary

Carrington Mortgage Services is seeking a Loss Mitigation Underwriter I to assess loan modification applications remotely from home, applying Treasury, Company and Investor guidelines with compliant decisions. This entry-level role handles less complex files as it gains experience for more complex cases.

Target pay is $23.00-$26.00 per hour, with comprehensive benefits and growth opportunities within our national network.

Qualifications

• Underwrite loan modification applications per Treasury, Company and Investor guidelines.
• Perform VOI to verify income and occupancy.
• Calculate front- and back-end debt-to-income ratios.
• Identify liquid assets and communicate required documentation.
• Apply payment waterfall to determine workout options.
• Complete system tasks to maintain Treasury/Investor compliance.

Responsibilities

• Analyze loan files for quality and guideline compliance.
• Conduct VOI and income verification.
• Calculate debt-to-income ratios and assess occupancy.
• Determine workout eligibility and recommended options.
• Identify needed conditions and required documentation.
• Document final decisions and update records.

Skills

Underwriting

VOI

Debt-to-Income

Occupancy verification

Hardship review

Payment waterfall

Documentation

Compliance

Education

High school diploma or equivalent

Job description

Job Description

Come join our amazing team and work remote from home!

The Loss Mitigation Underwriter I will be responsible for underwriting Loan Modifications applications in accordance with Treasury, Company and Investor guidelines while following company’s policies and procedures under general supervision. Makes sound underwriting decisions and ensures that all decisions meet legal and policy requirements. Perform all duties in accordance with the company’s policies and procedures, all US state and federal laws and regulations, wherein the company operates. The Loss Mitigation Underwriter I level is the entry level role in the job family and generally handles the least complex underwriting files while gaining additional knowledge and experience on the more complex files. The target pay range for this position is $23.00 - $26.00 per hour.

What You’ll Do

• Perform a thorough analysis to ensure the quality of each loan and to determine compliance with Treasury, Company and Investor guidelines.
• Conduct Verification of Income (VOI).
• Calculate customer’s front and back-end debt to income ratio.
• Verify occupancy, hardship and income.
• Apply payment waterfall to determine workout eligibility (repayment plan, forbearance, modification or liquidation options).
• If applicable, identify the type(s) and amounts of liquid assets the borrower holds.
• Determine and communicate needed conditions to properly document the file (reason for default letter, updated pay stubs, bankruptcy papers, etc.).
• Complete system tasks as required to maintain compliance with Treasury, Company and Investor guidelines.
• Document final decision and update system of record.

What You’ll Need

• High school diploma or equivalent required.
• 1 to 2 years of underwriting loss mitigation experience required

Our Company

Carrington Mortgage Services is part of The Carrington Companies, which provide integrated, full-lifecycle mortgage loan servicing assistance to borrowers and investors, delivering exceptional customer care and programs that support borrowers and their homeownership experience. We hope you’ll consider joining our growing team of uniquely talented professionals as we transform residential real estate. To read more visit: www.carringtonmortgage.com .

What We Offer

• Comprehensive healthcare plans for you and your family. Plus, a discretionary 401(k) match of 50% of the first 4% of pay contributed.
• Access to several fitness, restaurant, retail (and more!) discounts through our employee portal.
• Customized training programs to help you advance your career.
• Employee referral bonuses so you’ll get the opportunity to work with friends (and get some extra cash in your pocket!).
• Educational Reimbursement.
• Carrington Charitable Foundation contributes to the community through causes that reflect the interests of Carrington Associates. For more information about Carrington Charitable Foundation, and the organizations and programs, it supports through specific fundraising efforts, please visit: carringtoncf.org.

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