Mortgage Loss Mitigation Specialist II

Truist; Richmond (VA); On-site; USD 50,000 - 55,000; Full time

Benefits offered by this job

Health insurance

401k plan

Paid holidays

Vacation days

Job summary

Truist Financial Corporation in Richmond, VA is seeking a Loss Mitigation Specialist II to evaluate and process borrower loss mitigation requests in line with Reg X and investor guidelines. You will analyze, negotiate, and formalize retention or liquidation workout solutions while coordinating with investors, insurers, and third parties.

The role emphasizes leadership in quality and customer experience, with opportunities to handle high-priority cases from home if required, and to contribute to

Qualifications

• High School Diploma or equivalent education and/or training required.
• One year of mortgage experience or equivalent training and/or education
• Strong analytical and organizational skills with great attention to detail
• Ability to grasp concepts quickly and make sound decisions
• Proficient in Microsoft Office to include Word, Excel and Outlook
• Strong customer service skills
• Strong verbal and written communication skills
• Two years of experience in a direct customer contact, service, collections, loan workout or related financial services experience

Responsibilities

• Ensure all required Reg X/ECOA/Investor/Insurer/Policy requirements and timeframes are met.
• Evaluate Borrower Request Packages and request additional information and/or documentation from the clients when required.
• Review of borrower financial information including calculation of income and expenses to determine net surplus and debt-to-
• Ensure all assigned cases are worked in accordance with regulatory, investor/insurer, and Truist Policy requirements and timelines.
• Underwrite files based on investor guidelines, rules and regulations
• Complete accurate calculations of workout plan options and including the generation of the workout agreement.
• Generation and follow up of Modification Documents including preparing and tracking of recording with the county.
• Evaluate short sale purchase offers , valuations, and sales contracts as part of liquidation option review
• Communicate with clients regarding missing information, documents clarification, decisions, and follow up’s.
• Handle high priority, escalated, and complex cases as assigned
• Quality assurance function may include but not limited to case level review at different points of the timeline including complete package/missing information letter review, short sale final closing review, final modification document review, and pre-closing system review.
• May represent the department in different mediums including internal and external process review and process improvement initiatives.
• Leadership on projects, Procedure updates, and assists in coordinating and delivery of training.
• Work with the supervisor researching and responding to audit findings attributed to Loss Mitigation.
• Ability to work from home, if required by manager or job function, in accordance with the organizational telecommuting requirements.
• Other duties and projects as assigned

Skills

Analytical skills

Organizational skills

Customer service

Verbal communication

Written communication

Mortgage experience

Decision making

Education

High School Diploma

Bachelor's Degree

Tools

Microsoft Office

Job description

The position is described below.

Send an email to Accessibility (accommodation requests only; other inquiries won't receive a response).

Regular or Temporary: Regular Language Fluency: English (Required) Work Shift: 1st shift (United States of America)

Please review the following job description: Perform functions necessary for the timely and accurate evaluation and processing of borrower loss mitigation requests in accordance with regulatory, Bank, Investor, and Insurer requirements. The Loss Mitigation Specialist II is considered to be a subject matter expert on Loss Mitigation matters and is expected to demonstrate leadership in quality, productivity, and the Loss Mitigation Customer experience. Responsible to analyze, negotiate, and formalize retention or liquidation workout solutions. In addition to direct customer contact, works closely with investors, insurers, real estate agents, title companies, attorneys and other third parties to facilitate closure of approved transactions.

Essential Duties and Responsibilities

Following is a summary of the essential functions for this job. Other duties may be performed, both major and minor, which are not mentioned below. Specific activities may change from time to time.

• Ensure all required Reg X/ECOA/Investor/Insurer/Policy requirements and timeframes are met.
• Evaluate Borrower Request Packages and request additional information and/or documentation from the clients when required.
• Review of borrower financial information including calculation of income and expenses to determine net surplus and debt-to-
• Ensure all required Reg X/ECOA/Investor/Insurer/Policy requirements and timeframes are met.
• Evaluate Borrower Request Packages and request additional information and/or documentation from the clients when required.
• Ensure all assigned cases are worked in accordance with regulatory, investor/insurer, and Truist Policy requirements and timelines.
• Underwrite files based on investor guidelines, rules and regulations
• Complete accurate calculations of workout plan options and including the generation of the workout agreement.
• Generation and follow up of Modification Documents including preparing and tracking of recording with the county.
• Evaluate short sale purchase offers , valuations, and sales contracts as part of liquidation option review
• Communicate with clients regarding missing information, documents clarification, decisions, and follow up’s.
• Handle high priority, escalated, and complex cases as assigned
• Quality assurance function may include but not limited to case level review at different points of the timeline including complete package/missing information letter review, short sale final closing review, final modification document review, and pre-closing system review.
• May represent the department in different mediums including internal and external process review and process improvement initiatives.
• Leadership on projects, Procedure updates, and assists in coordinating and delivery of training.
• Work with the supervisor researching and responding to audit findings attributed to Loss Mitigation.
• Ability to work from home, if required by manager or job function, in accordance with the organizational telecommuting requirements.
• Other duties and projects as assigned

Qualifications Required

• High School Diploma or equivalent education and/or training required.
• One year of mortgage experience or equivalent training and/or education
• Strong analytical and organizational skills with great attention to detail
• Ability to grasp concepts quickly and make sound decisions
• Proficient in Microsoft Office to include Word, Excel and Outlook
• Strong customer service skills
• Strong verbal and written communication skills
• Two years of experience in a direct customer contact, service, collections, loan workout or sales environment or related financial services experience

Preferred Qualifications

• Bachelor's Degree
• Knowledge of basic collection, mortgage servicing, or default servicing concepts
• Supervisory/Management/Leadership experience a plus
• Complex Excel formulas and macro's a plus
• Three years of experience in Loss Mitigation / originations processing / loan administration or call center environment.
• Leadership or team lead experience a plus

The annual base salary for this position is $50,000-$55,000.

General Description of Available Benefits for Eligible Employees of Truist Financial Corporation: All regular teammates (not temporary or contingent workers) working 20 hours or more per week are eligible for benefits, though eligibility for specific benefits may be determined by the division of Truist offering the position. Truist offers medical, dental, vision, life insurance, disability, accidental death and dismemberment, tax-preferred savings accounts, and a 401k plan to teammates. Teammates also receive no less than 10 days of vacation (prorated based on date of hire and by full-time or part-time status) during their first year of employment, along with 10 sick days (also prorated), and paid holidays. For more details on Truist's generous benefit plans, please visit our Benefits site. Depending on the position and division, this job may also be eligible for Truist's defined benefit pension plan, restricted stock units, and/or a deferred compensation plan. As you advance through the hiring process, you will also learn more about the specific benefits available for any non-temporary position for which you apply, based on full-time or part-time status, position, and division of work.

Truist is an Equal Opportunity Employer that does not discriminate on the basis of race, gender, color, religion, citizenship or national origin, age, sexual orientation, gender identity, disability, veteran status, or other classification protected by law. Truist is a Drug Free Workplace. EEO is the Law E-Verify IER Right to Work About Truist Truist is a purpose-driven financial services company, formed by the historic merger of equals of BB&T and SunTrust. We serve clients in a number of high-growth markets in the country, offering a wide range of financial services. At Truist, our purpose is to inspire and build better lives and communities. That happens through real care to make things better. To meet client needs, to empower teammates, and to lift up communities. Learn more about Truist on truist.com.