Loss Mitigation Underwriter (Remote)

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

Job summary

An established industry player in mortgage servicing is seeking a dedicated professional to enhance customer experience through effective loss mitigation strategies. In this role, you will evaluate applications, educate homeowners on loan modification options, and manage a caseload while ensuring compliance with industry regulations. This position offers a dynamic work environment where your contributions directly impact customer satisfaction and operational efficiency. Join a team that values diversity and fosters an inclusive culture, all while providing a comprehensive benefits package to support your well-being and career growth.

Benefits

Medical Insurance

Dental Insurance

Vision Insurance

401k Plan

Paid Time Off

Sick Leave

Employee Stock Purchase Plan

Qualifications

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

Responsibilities

• Review and evaluate policy applications and renewals.
• Calculate income and expenses per guidelines.
• Communicate with homeowners regarding file status.

Skills

Collections

Loss Mitigation

Risk Assessment

Effective Communication

Customer Service Orientation

Attention to Detail

Education

High School Diploma

Some College

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, 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 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 best place to work for women, diversity, and LGBTQ+ employees, and have appeared 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 evaluate applications, renewals, re-pricings, restrictions, and cancellations to determine risk acceptability and coverage. We calculate borrowers' income and expenses accurately, manage caseloads from application to modification, update systems, and operate according to standard procedures and regulations. Our focus is on providing quality service and improving the customer experience without unnecessary delays or defaults.

What You'll Do

1. Review and evaluate policy applications, renewals, re-pricings, restrictions, and cancellations.
2. Assess loss mitigation packages to determine homeowner qualification for options and report findings.
3. Educate homeowners on loan modification programs, forbearance, repayment plans, short sales, and deeds in lieu.
4. Calculate income, expenses, and escrow advances per guidelines.
5. Order and review title searches, BPO/AVM/appraisals.
6. Implement loan modifications, forbearances, repayment terms, short sales, and deeds in lieu 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 directed and send appropriate denial letters.
11. Prepare and send necessary documents such as trial period, forbearance, repayment plans, and approval/denial letters.
12. Monitor status of plans and update systems accordingly.
13. Handle inbound calls, voicemails, escalations, and requests within 24 hours.
14. Communicate with homeowners and real estate agents regarding file status.
15. Maintain a caseload as established by the department.
16. Manage correspondence with all stakeholders involved.
17. Follow departmental processes, troubleshoot, and suggest improvements.
18. Contribute to team results and work towards goals.

What You'll Bring

• High School diploma or equivalent
• Some college preferred
• 1-3 years of experience in Collections, Loss Mitigation, or related mortgage/real estate fields
• Loss Mitigation Underwriting experience preferred
• Knowledge of department practices and procedures
• Knowledge of Black Knight MSP system preferred
• Understanding of CFPB and FDCPA guidelines preferred
• Risk assessment skills
• Organized, self-motivated, able to meet deadlines
• Effective communication skills
• Customer service orientation
• Attention to detail and accuracy
• Ability to learn rules, 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. Pay depends on knowledge, skills, experience, and location.

What We Offer

We embrace individuality and support diversity, equity, and inclusion, which are key to our success. We foster an authentic and inclusive workplace for all. You are encouraged to bring your full, unique self to work. First American is an equal opportunity employer. We offer a comprehensive benefits package including medical, dental, vision, 401k, PTO, sick leave, and other benefits such as an employee stock purchase plan.