Loss Mitigation Underwriter (Remote)

First American; Town of Texas (WI); Remote; USD 60,000 - 80,000; Full time

Job summary

Join a forward-thinking company dedicated to providing exceptional service in the mortgage and real estate industries. This role focuses on evaluating applications and managing loss mitigation processes, ensuring compliance with regulations while enhancing the customer experience. With a strong emphasis on teamwork and continuous improvement, you'll contribute to a culture that celebrates diversity and inclusion. If you're organized, detail-oriented, and passionate about helping others, this opportunity offers a supportive environment where you can thrive and make a meaningful impact.

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 or Loss Mitigation.
• Knowledge of CFPB and FDCPA guidelines preferred.

Responsibilities

• Reviews and evaluates policy applications and renewals.
• Calculates income and expenses according to guidelines.
• Maintains a caseload of files and manages correspondence.

Skills

Risk assessment skills

Organized and self-motivated

Persuasive communication skills

Strong Customer Service skills

Attention to detail

Verbal and written communication skills

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

Views and evaluates applications, renewals, re-pricings, restrictions, and cancellations to determine risk acceptability and coverage. Calculates borrower's income and expenses to a high standard of accuracy. Manages a caseload of files including all steps necessary from application to modification. Updates and notates system of record and investor portals. Operates according to standard operating procedures and all government and investor regulations. Achieves goals and objectives with a focus on quality of service and improving the customer experience, while not causing unwarranted delays to processes or defaults.

What You'll Do

1. Reviews and evaluates policy applications, renewals, re-pricings, restrictions, and cancellations to determine risk acceptability and coverage.
2. Reviews loss mitigation package documentation to determine if the homeowner qualifies for a loss mitigation option. Reports information to the investor, client, and insurer.
3. Educates homeowners about loan modification programs, forbearance plans, repayment plans, short sales, and deeds in lieu options as applicable.
4. Calculates income, expenses, and escrow advances in accordance with departmental and investor/insurer/client guidelines.
5. Orders and reviews title searches and BPO/AVM/appraisals as applicable.
6. Reviews and implements according to investor/client/insurer guidelines for loan modifications, forbearances, and repayment terms, short sales, and deeds in lieu.
7. For short sales, reviews marketing strategies, listing history, offer activity, and resolves counter offers in accordance with departmental procedures and investor/insurer/client guidelines.
8. Requests and follows up on foreclosure holds as necessary.
9. Submits loss mitigation requests to investor/client/MI for approval as required.
10. Declines files as directed in accordance with departmental procedures as set forth by investor/client/investor/insurer guidelines and sends appropriate denial letter if homeowner does not qualify for a workout option.
11. Prepares and sends trial period documents, forbearance plan documents, repayment plan agreements, short sale approval and closing letters, and decline letters as needed.
12. Monitors status of repayment plans, forbearance plans, and trial period plans and updates MSP system and investor system of record with payment records as needed.
13. Answers inbound phone calls, returns voicemails, handles escalations, and all other requests within 24 hours from receipt.
14. Contacts homeowners and real estate agents to provide status of loss mitigation files.
15. Maintains a caseload of files as established by the department.
16. Manages written and verbal correspondence between homeowners, clients, investors, insurers, subordinate lien holders, real estate agents, consumer credit counseling services, and foreclosure attorneys.
17. Follows departmental processes and procedures in daily activities, troubleshoots as needed, and suggests continuous improvements to overall operations.
18. Actively contributes to team results and works toward achieving goals and objectives.

What You'll Bring

1. High School diploma or equivalent
2. Some college preferred
3. 1-3 years of experience in Collections, Loss Mitigation, or related mortgage banking, servicing, or real estate experience
4. 1-3 years of mortgage servicing Loss Mitigation Underwriting experience strongly preferred
5. Working knowledge of fundamental concepts, practices, and procedures of the department/field
6. Knowledge of Black Knight MSP system preferred
7. Knowledge of CFPB and FDCPA guidelines preferred
8. Risk assessment skills
9. Organized and self-motivated with ability to meet deadlines
10. Persuasive and professional communication skills
11. Strong Customer Service skills
12. Strong verbal and written communication skills
13. Attention to detail and accuracy
14. Ability to learn rules, regulations, and laws to meet guidelines
15. Establish effective working relationships at the work group level

Salary Range: $23.80 - $31.80 Hourly

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

What We Offer

We embrace individuality and support diversity, equity, and inclusion. Our People First Culture celebrates these values as key to our success. We promote an authentic and inclusive workplace for all. You are encouraged to bring your full 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 like an employee stock purchase plan.