Mortgage Loss Mitigation Specialist

Dovenmuehle Mortgage, Inc.; Lake Zurich (IL); Hybrid; USD 52,000 - 78,000; Full time

Benefits offered by this job

Medical insurance

Dental insurance

Vision insurance

401(k) with company match

Paid time off

Job summary

Dovenmuehle Mortgage, Inc. in Lake Zurich, IL is seeking a Loss Mitigation Specialist I to mitigate losses on delinquent loans. You will analyze borrower financials, reconcile documents, and negotiate terms with mortgagors and clients to prevent foreclosures.

This full-time, non-exempt role requires 1+ years in mortgage underwriting and strong Excel and analytical skills. Hybrid work options and departmental Loss Mitigation responsibilities apply.

Qualifications

• Bachelor’s degree or equivalent combination of education and experience.
• 1+ years’ mortgage underwriting experience.
• Proficient with Microsoft applications, including Excel, and loan servicing platforms.
• Strong analytical and problem-solving skills and attention to detail.
• Ability to handle complex, multiple tasks simultaneously in a fast-paced environment.
• Ability to work independently along with initiative to complete all assigned tasks timely.
• Effective verbal and written communication skills with demonstrated ability to interact professionally with all audiences.

Responsibilities

• Manage loss mitigation loan files within required timelines and protocols.
• Evaluate borrower application packages to determine financial circumstances and ability to pay.
• Reconcile income sources, tax returns, and credit reports; assess appraisals and collateral.
• Negotiate terms with mortgagors, brokers, attorneys, and clients.
• Complete modification/forbearance calculations for agreements.
• Ensure documentation is accurate before updating systems with modified terms.
• Manage portfolio loans with client-specific criteria per agency guidelines.
• Monitor loans during trial periods, forbearance plans, or repayment arrangements.
• Adhere to all laws, regulations, and organizational processes.
• Complete annual regulatory compliance training.

Skills

Mortgage underwriting

Excel

Analytical skills

Multitasking

Independent work

Communication skills

Education

Bachelor’s degree or equivalent

Tools

Loan servicing platforms

Job description

Dovenmuehle Mortgage, Inc. in Lake Zurich, IL is seeking a Loss Mitigation Specialist I to mitigate losses on delinquent loans. You will analyze borrower financials, reconcile documents, and negotiate terms with mortgagors and clients to prevent foreclosures.

This full-time, non-exempt role requires 1+ years in mortgage underwriting and strong Excel and analytical skills. Hybrid work options and departmental Loss Mitigation responsibilities apply.