Mortgage Loss Mitigation Specialist II

Fsbwa; Mountlake Terrace (WA); Hybrid; USD 34,000 - 41,000; Full time

Benefits offered by this job

Medical, dental, and vision coverage

Life insurance

Long-term disability

401K matching

Paid sick and vacation time

Job summary

1st Security Bank is seeking a Mortgage Loss Mitigation Specialist II to coordinate repayment of delinquent mortgage and home equity loans. You will analyze a customer’s financial position to recommend workout solutions, including loan restructuring, short sales, and deed-in-lieu negotiations.

The role focuses on helping customers pursue alternatives to foreclosure while minimizing risk to the bank, performing audits, and ensuring compliance with investor and regulatory standards.

Qualifications

• High school diploma or equivalent and at least one year experience within a financial institution preferred.
• Basic knowledge of all applicable policies, procedures, and regulations, including the Bank Secrecy Act and Anti-Money Laundering policies, that pertain to this position is preferred.
• Knowledge of FDCPA, CFPB, AllReg, Investor and regulatory guidelines is desirable.
• Ability to work well in a fast-paced team environment.

Responsibilities

• Provide consistent follow up on delinquent mortgage and home equity accounts ranging from 3-120 days delinquent through inbound and outbound collection phone calls.
• Facilitate the full lifecycle of Borrower Assistance Packages by performing initial completeness audits and subsequent financial reviews ensuring the file meets all investor and regulatory submission standards.
• Follow and adhere to all policies and procedures pertaining to portfolio loan default management as well as Fannie Mae, Freddie Mac, Ginnie Mae, FHA, VA loan servicing requirements.
• Processes correspondence from customers, insurance companies, branches, etc.

Skills

Customer service

Teamwork

Communication

Education

High school diploma or equivalent

Tools

Microsoft Office

Job description

Job Category: Non-Retail Employee

Requisition Number: MORTG001205

• Posted : September 22, 2026
• Full-Time
• On-site

Locations

Showing 1 location

Mountlake Terrace, WA 98046, USA

Description

A GREAT PLACE TO WORK AND BANK

Join our team! 1st Security Bank team members deliver service that "WOWs" each other and our customers. We value relationships, teamwork, community, and professional growth in a safe, friendly, and progressive workplace. We celebrate diversity and support equality for all. If you share these core values and are committed to career excellence, let us help you reach your dreams!

If you are the type of individual that would enjoy working at one of thePuget Sound's Best Places to Work for 10 years in a rowand focuseson providing an exceptional client experience, then 1st Security Bank is the place for you. 1st Security Bank was named a bronze medal winner in its class in the Puget Sound Business Journal's Best Workplaces contest in its first year nominated and is also consistently rated a 5 star Bank in Washington State by Bauer Financial, an independent bank rating firm.

POSITION SUMMARY:

Mortgage Loss Mitigation Specialist II is responsible for coordinating the repayment of delinquent mortgage and home equity loans. This role involves analyzing a customer’s financial position to recommend workout solutions, including loan restructuring, short sales, and deed-in-lieu negotiations. The primary objective is to assist customers in pursuing alternatives to foreclosure while minimizing risk to the institution.

ESSENTIAL DUTIES AND RESPONSIBILITIESinclude the following:

• Provide consistent follow up on delinquent mortgage and home equity accounts ranging from 3-120 days delinquent through inbound and outbound collection phone calls.
• Facilitate the full lifecycle of Borrower Assistance Packages by performing initial completeness audits and subsequent financial reviews ensuring the file meets all investor and regulatory submission standards.
• Follow and adhere to all policies and procedures pertaining to portfolio loan default management as well as Fannie Mae, Freddie Mac, Ginnie Mae, FHA, VA loan servicing requirements.
• Processes correspondence from customers, insurance companies, branches, etc.
• Process check-by-phone, debit card payments, and online payments as needed
• Negotiate payoff balances on Mortgage and home equity loans, when applicable
• Send accounts out for Door Knocks to establish live contact with delinquent customers.
• Ensure loans meet pre-foreclosure servicing requirements, when necessary.
• Provide customer service to branches and other departments.
• Answers general loan questions from customers and internal departments/branches.
• Performs other duties as assigned.

BENEFITS AND PERKS

Full medical, dental, and vision coverage for individual or family plan.

Life insurance.

Long-term disability insurance.

401K matching program.

Paid sick and vacation time.

OUR CORE VALUES

Relationship Driven -we strive to "WOW" (surprise, excite and delight) each other and our customers.

Ethical -fair, honest and act with integrity.

Lead by Example -maintain a positive attitude, show respect for others, and have some fun!

Accountable - we take our responsibilities seriously and we meet our commitments with urgency.

Team Player - dependable, enthusiastic contributor to team success and to the greater good of the bank.

Embrace Dreams - we encourage each other to reach for our dreams.

Diversity - we celebrate diversity and support equality for all.

Community Oriented - we actively support our communities and the Bank's CRA initiatives.

Open and Honest Communication - always professional, responsive, and timely.

EDUCATION and/or EXPERIENCE REQUIREMENTS

• High school diploma or equivalent and at least one year experience within a financial institution preferred.
• Basic knowledge of all applicable policies, procedures, and regulations, including the Bank Secrecy Act and Anti-Money Laundering policies, that pertain to this position is preferred.
• Knowledge of FDCPA, CFPB, AllReg, Investor and regulatory guidelines is desirable.
• Ability to work well in a fast-paced team environment.

COMPUTER SKILLS

To perform this job successfully, an individual should be proficient in Microsoft Office Products and willing and able to learn other software.

PHYSICAL DEMANDS AND WORK ENVIRONMENT

The physical demands described here are representative of those that must be met by an employee to successfully perform the essential functions of this job. The work environment characteristics described here are representative of those an employee encounters while performing the essential functions of this job. Reasonable accommodations may be made to enable individuals with disabilities to perform the essential functions.

Salary Range: $25.00 to $30.00 per hour.

Equal Opportunity Employer
This employer is required to notify all applicants of their rights pursuant to federal employment laws.For further information, please review the Know Your Rights notice from the Department of Labor.