Mortgage Workout Specialist II

1st Security Bank of Washington; Mountlake Terrace (WA); On-site; USD 34,000 - 41,000; Full time

Benefits offered by this job

Medical, dental, and vision coverage

Life insurance

Long-term disability insurance

401K matching program

Paid sick and vacation time

Job summary

1st Security Bank of Washington is seeking a Mortgage Loss Mitigation Specialist II to coordinate repayment of delinquent mortgage and home equity loans. You will evaluate a borrower’s financial position to propose workout solutions, including loan restructuring and short sales, aiming to avoid foreclosure while protecting the bank.

In this role, you’ll conduct completeness audits, perform financial reviews, and ensure files meet investor and regulatory standards.

Qualifications

• High school diploma or equivalent and at least one year experience within a financial institution preferred.
• Knowledge of Bank Secrecy Act and Anti-Money Laundering policies 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.
• 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.

Skills

Microsoft Office

Education

High school diploma or equivalent

Tools

Microsoft Office

Job description

1st Security Bank of Washington is seeking a Mortgage Loss Mitigation Specialist II to coordinate repayment of delinquent mortgage and home equity loans. You will evaluate a borrower’s financial position to propose workout solutions, including loan restructuring and short sales, aiming to avoid foreclosure while protecting the bank.

In this role, you’ll conduct completeness audits, perform financial reviews, and ensure files meet investor and regulatory standards.