Remote Loss Mitigation Underwriter I – Loan Modifications

Carrington Mortgage Services, LLC; Orange (CA); Hybrid; USD 32,000 - 36,000; Full time

Benefits offered by this job

Comprehensive healthcare plans

Discretionary 401(k) match

Employee discounts

Educational reimbursement

Training programs

Referral bonuses

Job summary

Carrington Mortgage Services is seeking an entry-level Loss Mitigation Underwriter I in Orange, CA to underwrite Loan Modification applications in line with Treasury, Company and Investor guidelines. The role focuses on less complex files as the candidate builds experience under supervision.

Target hourly pay ranges between $23.00 and $26.00. Responsibilities include VOI, determining DTI, verifying occupancy and income, and applying payment waterfalls to evaluate workout options.

Qualifications

• 1 to 2 years of underwriting loss mitigation experience required.

Responsibilities

• Perform a thorough analysis to ensure the quality of each loan and to determine compliance with Treasury, Company and Investor guidelines.
• Conduct Verification of Income (VOI).
• Calculate customer’s front and back-end debt to income ratio.
• Verify occupancy, hardship and income.
• Apply payment waterfall to determine workout eligibility (repayment plan, forbearance, modification or liquidation options).
• If applicable, identify the type(s) and amounts of liquid assets the borrower holds.
• Determine and communicate needed conditions to properly document the file (reason for default letter, updated pay stubs, bankruptcy papers, etc.).
• Complete system tasks as required to maintain compliance with Treasury, Company and Investor guidelines.
• Document final decision and update system of record.

Skills

Underwriting

VOI

Debt to Income

Loss Mitigation

Education

High School Diploma

Job description

Carrington Mortgage Services is seeking an entry-level Loss Mitigation Underwriter I in Orange, CA to underwrite Loan Modification applications in line with Treasury, Company and Investor guidelines. The role focuses on less complex files as the candidate builds experience under supervision.

Target hourly pay ranges between $23.00 and $26.00. Responsibilities include VOI, determining DTI, verifying occupancy and income, and applying payment waterfalls to evaluate workout options.