Loss Mitigation Underwriter (Remote)

First American; Georgia (VT); Remote; USD 60,000 - 80,000; Full time

Job summary

An established industry player in the mortgage servicing sector is seeking dedicated individuals to join their team. This role involves evaluating applications, managing caseloads, and ensuring compliance with regulations while providing exceptional service to clients. The organization prides itself on its inclusive culture and commitment to diversity, making it a great place for personal and professional growth. If you are detail-oriented and passionate about helping others navigate their mortgage options, this opportunity could be the perfect fit for you.

Benefits

Medical Insurance

Dental Insurance

Vision Insurance

401k

Paid Time Off

Paid Sick Leave

Employee Stock Purchase Plan

Qualifications

• 1-3 years experience in Collections or Loss Mitigation.
• Knowledge of CFPB and FDCPA guidelines preferred.

Responsibilities

• Review and evaluate policy applications and assess risk.
• Educate homeowners about loan modification programs.
• Manage foreclosure holds and follow up as necessary.

Skills

Collections

Loss Mitigation

Mortgage Banking

Risk Assessment

Effective Communication

Education

High School Diploma

Some College

Tools

Black Knight MSP

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 is focused on providing superior technology, products, and services for the mortgage and real estate industries, supported by highly personalized service and support. Through continuous innovation and acquisition, our offerings include personalized solutions that span the mortgage continuum, enhancing 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 been recognized as a top place to work for women, diversity, and LGBTQ+ employees, appearing on over 50 regional best places to work lists. First American strives to be a great place to work for all.

What We Do

We evaluate applications, renewals, re-pricings, restrictions, and cancellations to determine risk acceptability and coverage. We calculate borrowers' income and expenses with high accuracy. Our team manages a caseload of files, handling all steps from application to modification, updating systems and investor portals accordingly. We operate in accordance with standard procedures and all relevant government and investor regulations. Our goal is to deliver quality service and improve the customer experience without unnecessary delays or defaults.

What You'll Do

1. Review and evaluate policy applications, renewals, re-pricings, restrictions, and cancellations to assess risk and coverage.
2. Review loss mitigation documentation to determine homeowner qualification for options, reporting findings to investors, clients, and insurers.
3. Educate homeowners about loan modification programs, forbearance plans, repayment options, short sales, and deeds in lieu.
4. Calculate income, expenses, and escrow advances following departmental and investor guidelines.
5. Order and review title searches, BPO/AVM/appraisals as applicable.
6. Implement loan modifications, forbearances, repayment plans, short sales, and deeds in lieu per guidelines.
7. Review marketing strategies, listing history, and offer activity for short sales, resolving counter offers according to procedures.
8. Manage foreclosure holds and follow up as necessary.
9. Submit loss mitigation requests for approval.
10. Decline files as directed, sending appropriate denial letters.
11. Prepare and send necessary documentation such as trial period, forbearance, repayment, and approval letters.
12. Monitor the status of repayment and forbearance plans, updating systems accordingly.
13. Respond to inbound calls, voicemails, and escalations within 24 hours.
14. Communicate with homeowners and real estate agents regarding file status.
15. Maintain a caseload as assigned.
16. Handle correspondence with homeowners, clients, investors, insurers, lien holders, agents, credit counseling, and attorneys.
17. Follow processes and procedures, troubleshoot, and suggest improvements.
18. Contribute actively to team goals and objectives.

What You'll Bring

• High School diploma or equivalent; some college preferred.
• 1-3 years experience in Collections, Loss Mitigation, mortgage banking, or related fields.
• Mortgage Loss Mitigation Underwriting experience preferred.
• Knowledge of department practices, Black Knight MSP system, CFPB, and FDCPA guidelines preferred.
• Risk assessment skills.
• Organized, self-motivated, able to meet deadlines.
• Effective communication skills, both verbal and written.
• Attention to detail and accuracy.
• Ability to learn and adhere to rules, regulations, and laws.
• Ability to establish effective work relationships.

Salary Range: $23.80 - $31.80 Hourly

This range is an estimate based on various factors including experience, skills, and location.

What We Offer

We embrace diversity, equity, and inclusion, fostering an authentic and inclusive workplace for all. Our People First Culture celebrates individuality and supports your entire self at work. First American is an equal opportunity employer. We offer a comprehensive benefits package including medical, dental, vision, 401k, PTO, paid sick leave, and other benefits such as an employee stock purchase plan.