Specialist II, Loss Mitigation, South Bend, IN

1st Source Bank; South Bend (IN); In loco; USD 50.000 - 75.000; Tempo pieno

Descrizione del lavoro

1st Source Corporation in South Bend, IN is seeking a Loss Mitigation Specialist II to manage delinquent mortgage accounts and help borrowers in financial hardship. You will evaluate options and coordinate with investors and servicers to pursue retention or liquidation strategies.

Responsibilities include contacting borrowers, gathering documentation, ensuring compliance with FHA/VA/USDA and GSE guidelines, and maintaining detailed servicing notes.

Competenze

• 1–3+ years mortgage servicing loss mitigation experience preferred.
• Strong verbal and written communication skills.
• Proficiency with Microsoft Excel and other PC tools.
• Excellent organizational and time management abilities.
• Ability to multitask in a regulated mortgage environment.

Mansioni

• Manage delinquent mortgage accounts and assist borrowers in financial hardship.
• Evaluate, recommend, and implement loss mitigation solutions per guidelines.
• Ensure compliance with FHA/VA/USDA, Fannie Mae, Freddie Mac, and company rules.
• Work with borrowers to maximize foreclosure prevention opportunities.
• Make and receive calls regarding delinquency and loss mitigation options.
• Educate borrowers on programs and requirements; gather documentation.

Conoscenze

Mortgage servicing loss mitigation

Verbal communication

Written communication

Microsoft Excel

Time management

Multitasking

Formazione

College coursework

Descrizione del lavoro

Job Details

Posting Details

• Posted on November 4, 2026

Locations

Showing 1 location South Bend Main Office 100 N Michigan St South Bend, IN 46601, USA

• On-site
• Credit
• Full-Time
• Requisition #: SPECI004510

Description

POSITION SUMMARY Responsible for all aspects of Mortgage Servicing Loss Mitigation.

ESSENTIAL REQUIREMENTS

• The Loss Mitigation Specialist II is responsible for managing delinquent mortgage accounts and assisting borrowers experiencing financial hardship by evaluating, recommending, and implementing home retention and liquidation loss mitigation solutions in accordance with investor, insurer, regulatory, and company guidelines.
• This position administers loss mitigation home retention options, foreclosure alternatives, and default servicing activities while ensuring compliance with FHA, VA, USDA, Fannie Mae, Freddie Mac, Habitat, CHC, and other applicable servicing requirements.
• The Specialist works closely with borrowers to maximize foreclosure prevention opportunities and ensure timely resolution of delinquent mortgage loans.
• Make and receive inbound and outbound calls with borrowers regarding mortgage delinquency, financial hardship, and available loss mitigation options.
• Educate borrowers on loss mitigation programs and application requirements while providing exceptional customer service.
• Conduct borrower interviews to assess financial situations and gather documentation needed to determine eligibility for workout options.
• Follow up with borrowers to obtain missing documentation, communicate application status, and discuss approved workout solutions.
• Maintain accurate and detailed servicing notes documenting all borrower interactions and account activity.
• Prepares and delivers borrower communications related to delinquency, breach letters, loss mitigation acknowledgments, incomplete application notices, decision letters, foreclosure referrals, and other default servicing activities.
• Evaluates borrower eligibility and prepares, processes, and submits home retention loss mitigation options through investor, insurer, and government agency systems, including repayment plans, forbearance agreements, payment deferrals, partial claims, loan modifications, Flex Modifications, FHA Recovery Modifications, and other available retention solutions in accordance with investor, regulatory, and company guidelines.
• Evaluates and administers liquidation solutions, including pre-foreclosure sales and deeds-in-lieu of foreclosure, as alternatives to foreclosure.
• Coordinates directly with borrowers, attorneys, investors, and other parties to manage the deed-in-lieu process from approval through completion, ensuring compliance with investor, insurer, regulatory, and company requirements.
• Responsible for daily, monthly, and investor reporting related to mortgage delinquency, loss mitigation, foreclosure, and bankruptcy activities, ensuring accuracy, timeliness, and compliance with investor, insurer, regulatory, and company requirements.
• Maintains, updates, and implements loss mitigation procedures and workflows in accordance with investor, insurer, regulatory, and company guidelines.
• Serves as a resource for mortgage servicing and loss mitigation matters by sharing knowledge, providing guidance, and promoting consistency in servicing practices and regulatory compliance.
• Demonstrates strong organizational, analytical, communication, and problem-solving skills while managing multiple priorities in a highly regulated mortgage servicing environment.

NON-ESSENTIAL FUNCTIONS

• Performs all other duties as assigned.

EXPERIENCE/SKILLS

• One (1) - three (3) or more years of mortgage servicing loss mitigation experience preferred.
• Good verbal and written communication skills.
• Good PC skills--proficiency with Microsoft products Excel is essential.
• Good organizational and time management skills.
• Ability to multi-task in a fast-paced environment.

EDUCATION

• One (1) - three (3) years college preferred.

TRAVEL REQUIREMENTS

• Minimal or occasional travel as needed for meetings, projects, training, etc.

PHYSICAL DEMANDS 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. Reasonable accommodations may be made to enable individuals to perform the essential functions. While performing the duties of this job, the employee is required to sit, stand, and walk; use hands and fingers to operate keyboard and other office equipment; reach with hands and arms; and talk or hear. The employee is occasionally required to stoop or kneel. The employee may occasionally lift and/or move up to 10 pounds.

EQUIPMENT MS Office PC, fax, phone, and standard office equipment. Equal Opportunity Employer/Protected Veterans/Individuals with Disabilities 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.