Loss Mitigation Underwriter (Remote)

First American Financial; Fort Mill (SC); Remote; USD 60,000 - 80,000; Full time

Job summary

A leading company in the mortgage servicing industry seeks a Loss Mitigation Specialist to review applications, assess homeowner eligibility for options, and manage caseloads. The ideal candidate will have strong communication skills and experience in loss mitigation or collections. This role offers a competitive hourly wage and a comprehensive benefits package, fostering a diverse and inclusive workplace.

Benefits

Medical

Dental

Vision

401k

PTO

Employee stock purchase plan

Qualifications

• 1-3 years of experience in Collections, Loss Mitigation, or related fields.
• Mortgage servicing Loss Mitigation Underwriting experience preferred.

Responsibilities

• Review and evaluate policy applications, renewals, and cancellations.
• Calculate income, expenses, and escrow advances following guidelines.
• Communicate with homeowners, agents, and other stakeholders about file statuses.

Skills

Communication

Organization

Risk assessment

Customer service

Education

High School diploma or equivalent

Some college preferred

Tools

Black Knight MSP system

Job description

Who We Are

ServiceMac is a new sub-servicing entity backed by some of the leading practitioners of the mortgage servicing industry. ServiceMac focuses on providing superior technology, products, and services for the mortgage and real estate industries, supported by highly personalized service and support. Our offerings include personalized solutions that span the mortgage continuum and enhance security, compliance, customer satisfaction, and profitability. Our inclusive, people-first culture has earned us numerous accolades, including being named to the Fortune 100 Best Companies to Work For list for nine consecutive years. We have also received awards as a best place to work for women, diversity, and LGBTQ+ employees, and have been included on more than 50 regional best places to work lists. First American strives to be a great place to work for all.

What We Do

We review and evaluate applications, renewals, re-pricings, restrictions, and cancellations to determine risk acceptability and coverage. We calculate borrowers’ income and expenses to a high standard of accuracy. We manage caseloads of files, including all steps from application to modification, updating systems and investor portals accordingly. We operate according to standard procedures and all relevant regulations, aiming to provide quality service and improve customer experience without causing unwarranted delays.

What You'll Do

1. Review and evaluate policy applications, renewals, re-pricings, restrictions, and cancellations.
2. Assess loss mitigation packages to determine homeowner eligibility for options like loan modifications, forbearance, repayment plans, short sales, and deeds in lieu.
3. Educate homeowners on available options.
4. Calculate income, expenses, and escrow advances following guidelines.
5. Order and review title searches, BPOs, AVMs, and appraisals.
6. Implement loan modifications, forbearances, and other plans according to guidelines.
7. Review marketing strategies and resolve counter offers for short sales.
8. Request and follow up on foreclosure holds.
9. Submit loss mitigation requests for approval.
10. Decline files as appropriate and send denial letters.
11. Prepare and send necessary documentation and letters.
12. Monitor status of repayment and forbearance plans, updating systems accordingly.
13. Respond to inbound calls and requests within 24 hours.
14. Communicate with homeowners, agents, and other stakeholders about file statuses.
15. Manage caseloads and correspondence.
16. Follow procedures, troubleshoot, and recommend process improvements.
17. Contribute to team goals and objectives.

What You'll Bring

• High School diploma or equivalent; some college preferred.
• 1-3 years of experience in Collections, Loss Mitigation, or related fields.
• Mortgage servicing Loss Mitigation Underwriting experience preferred.
• Knowledge of department practices, Black Knight MSP system, CFPB, and FDCPA guidelines preferred.
• Risk assessment skills, organization, and self-motivation.
• Strong communication and customer service skills.
• Attention to detail and ability to learn regulations and laws.
• Ability to establish effective working relationships.

Salary Range: $23.80 - $31.80 Hourly

This range is an estimate at the time of posting and may vary based on factors such as experience, skills, and location.

What We Offer

We embrace individuality and support diversity, equity, and inclusion. Our People First Culture celebrates these values and strives to create an authentic, inclusive workplace for all. We encourage you to bring your whole self to work. First American is an equal opportunity employer and offers a comprehensive benefits package including medical, dental, vision, 401k, PTO, and other benefits such as an employee stock purchase plan.

About the company

Founded in June 2010, First American Financial Corporation was created to provide title and settlement services to the real estate and mortgage industries, following a corporate split. We are committed to delivering exceptional service and fostering a diverse, inclusive work environment.