Loss Mitigation Underwriter (Remote)

First American; Ohio; Remote; USD 60,000 - 80,000; Full time

Job summary

An established industry player in mortgage servicing is seeking a dedicated Loss Mitigation Specialist to join their team. In this role, you will review applications, educate homeowners on loan options, and manage a caseload to ensure compliance with regulations. The company prides itself on a people-first culture, offering a supportive environment where diversity is celebrated. With a focus on continuous improvement, you will contribute to enhancing the customer experience and operational efficiency. If you are detail-oriented and possess strong communication skills, this opportunity is perfect for you.

Benefits

Medical insurance

Dental insurance

Vision insurance

401k

Paid time off

Sick leave

Employee stock purchase plan

Qualifications

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

Responsibilities

• Review and evaluate policy applications, renewals, and cancellations.
• Educate homeowners about loan modification and forbearance options.
• Monitor repayment and forbearance plans, updating systems with records.

Skills

Risk assessment skills

Professional communication skills

Strong customer service skills

Attention to detail and accuracy

Organization and self-motivation

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 is focused on providing superior technology, products, and services for the mortgage and real estate industries backed by highly personalized service and support. Through continuous innovation and acquisition, our offerings comprise personalized solutions that span the mortgage continuum and enhance security, compliance, customer satisfaction, and profitability. Our inclusive, people-first culture has earned our company numerous accolades, including being named to the Fortune 100 Best Companies to Work For list for nine consecutive years. We have also earned 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 will always strive 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 a caseload of files, including all steps necessary from application to modification. We update and notate system records and investor portals. We operate according to standard operating procedures and all government and investor regulations. Our goal is to achieve excellent service and improve the customer experience without causing unwarranted delays or defaults.

What You'll Do

1. Review and evaluate policy applications, renewals, re-pricings, restrictions, and cancellations to determine risk acceptability and coverage.
2. Review loss mitigation package documentation to determine homeowner qualification for loss mitigation options. Report information to the investor, client, and insurer.
3. Educate homeowners about loan modification programs, forbearance plans, repayment plans, short sales, and deeds in lieu options as applicable.
4. Calculate income, expenses, and escrow advances according to departmental and investor/insurer/client guidelines.
5. Order and review title searches and BPO/AVM/appraisals as applicable.
6. Implement according to investor/client/insurer guidelines for loan modifications, forbearances, repayment terms, short sales, and deeds in lieu.
7. For short sales, review marketing strategies, listing history, offer activity, and resolve counter offers following departmental procedures and guidelines.
8. Request and follow up on foreclosure holds as necessary.
9. Submit loss mitigation requests for approval as required.
10. Decline files as directed, following procedures, and send appropriate denial letters if the homeowner does not qualify for a workout.
11. Prepare and send trial period documents, forbearance plans, repayment agreements, and approval or decline letters as needed.
12. Monitor the status of repayment and forbearance plans, updating systems with payment records.
13. Respond to inbound calls, return voicemails, handle escalations, and requests within 24 hours.
14. Provide status updates to homeowners and real estate agents.
15. Maintain a caseload of files as established by the department.
16. Manage correspondence with homeowners, clients, investors, insurers, lien holders, agents, and attorneys.
17. Follow departmental processes, troubleshoot, and suggest improvements for operations.
18. Contribute to team results and work towards achieving goals.

What You'll Bring

1. High School diploma or equivalent
2. Some college preferred
3. 1-3 years of experience in Collections, Loss Mitigation, mortgage banking, or related fields
4. Mortgage Loss Mitigation Underwriting experience preferred
5. Knowledge of department practices and procedures
6. Knowledge of Black Knight MSP system preferred
7. Understanding of CFPB and FDCPA guidelines preferred
8. Risk assessment skills
9. Organization and self-motivation with ability to meet deadlines
10. Professional communication skills
11. Strong customer service skills
12. Attention to detail and accuracy
13. Ability to learn rules, regulations, and laws
14. Ability to establish effective working relationships

Salary Range: $23.80 - $31.80 Hourly

This range is an estimate of the base pay at the time of posting. Pay depends on factors such as knowledge, skills, experience, business needs, and location.

What We Offer

We embrace individuality and support diversity, equity, and inclusion. Our People First Culture celebrates what makes each of us unique. We foster an authentic and inclusive workplace for all. First American is an equal opportunity employer. We offer a comprehensive benefits package including medical, dental, vision, 401k, PTO, sick leave, and other benefits like an employee stock purchase plan.