Mortgage Workout Strategist

University Bank; Michigan; Hybrid; USD 42,000 - 65,000; Full time

Job summary

University Bank seeks a Loss Mitigation Specialist to reduce foreclosure risk by working with delinquent borrowers to identify home retention or liquidation options. This role evaluates borrower finances, counsels borrowers on available options, and ensures loss mitigation reviews meet investor, insurer, and regulatory requirements.

You will evaluate borrower finances, counsel on available solutions, and ensure loss mitigation reviews meet applicable investor, insurer, and regulatory

Qualifications

• High school diploma or equivalent.
• Minimum 3 years of mortgage loss mitigation experience.
• Knowledge of Fannie Mae, Freddie Mac, FHA/HUD, VA and private investor guidelines.
• Certification in credit counseling or mortgage servicing is a plus.
• Strong attention to detail and regulatory compliance.
• Experience with ICE MSP/LMS or similar platforms preferred.
• Proficiency with Windows and Microsoft Office.

Responsibilities

• Review borrower financial packages for completeness, accuracy, and compliance with documentation standards prior to underwriting evaluation.
• Process, evaluate, and monitor all workout options in accordance with GSE and agency guidelines, ensuring timelines and eligibility criteria are met.
• Ensure full compliance with CFPB rules and Regulation X and Z throughout the underwriting review and decision making process.
• Monitor and respond promptly to departmental email queues, ensuring timely communication with borrowers, investors, and internal stakeholders.
• Communicate effectively with borrowers, lenders, insurers, attorneys, and investors to develop sustainable workout strategies.
• Report approved workout solutions to investors and designated systems, ensuring accuracy and compliance with reporting standards.
• Provide counseling and guidance to delinquent borrowers, including participation in mitigation calls with attorneys or authorized representatives.
• Coordinate with internal departments to ensure accurate system updates and timely placement/removal of foreclosure holds or cancellations.
• Maintain accurate servicing system records within ICE MSP and LoanSphere, including loss mitigation codes and status updates.
• Complete required updates in investor/insurer systems (FHA Connection, Fannie Mae SMDU, Freddie Mac Resolve, etc.).
• Ensure accuracy of payment posting and suspense management for loans under mitigation reviews.
• Manage departmental email inboxes and provide backup support during high volume periods.

Skills

Excellent communication

Detail oriented

Time management

Analytical thinking

Education

High school diploma or equivalent

Tools

MSP LMS

ICE Mortgage Technology

Microsoft Office

Job description

University Bank seeks a Loss Mitigation Specialist to reduce foreclosure risk by working with delinquent borrowers to identify home retention or liquidation options. This role evaluates borrower finances, counsels borrowers on available options, and ensures loss mitigation reviews meet investor, insurer, and regulatory requirements.

You will evaluate borrower finances, counsel on available solutions, and ensure loss mitigation reviews meet applicable investor, insurer, and regulatory