Underwriter, Loss Mitigation, II

Carrington; Frankfort (KY); On-site; USD 38,000 - 42,000; Full time

Benefits offered by this job

Comprehensive healthcare plans

Discretionary 401(k) match

Employee discounts

Educational reimbursement

Referral bonuses

Carrington Charitable Foundation

Job summary

Carrington Mortgage Services is seeking an Loss Mitigation Underwriter II to assess underwriting loss mitigation applications in line with Treasury, Company and Investor guidelines. The role involves calculating DTI, verifying income, and applying payment waterfalls to determine workout options.

The position requires 2–3 years of underwriting or loss mitigation experience and a strong command of Microsoft Office.

Qualifications

• Two to three years' underwriting background or servicing/loss mitigation experience.
• Ability to understand complex problems and collaborate on solutions.
• Strong working knowledge of Microsoft Office suite.

Responsibilities

• Analyze loan quality and ensure compliance with guidelines.
• Conduct Verification of Income (VOI).
• Calculate front and back-end debt-to-income ratio.
• Verify occupancy, hardship, and income.
• Apply payment waterfall to determine workout eligibility.
• Identify liquid assets held by borrower when applicable.
• Communicate required conditions to document the file.
• Complete system tasks to maintain regulatory compliance.
• Document final decision and update records.
• Perform other duties as assigned.

Skills

MS Office / Microsoft Suite

Analytical thinking

Problem solving

Communication skills

Organizational skills

Education

High school diploma or equivalent

Tools

Microsoft Excel

Word / Outlook

Job description

POSITION SUMMARY:

Responsible for underwriting loss mitigation applications in accordance with Treasury, Company and Investor guidelines while following company’s policies and procedures under general supervision. Makes sound underwriting decisions and ensures that all decisions meet legal and policy requirements. Perform all duties in accordance with the company’s policies and procedures, all US state and federal laws and regulations, wherein the company operates.

The Loss Mitigation Underwriter II level is the Intermediate level role in the job family and generally handles the moderately complex underwriting files while gaining additional knowledge and experience on the more complex files. The target starting pay for the position is $27.50 - $30.50/hr

WHAT YOU'LL DO:

• 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 (repurchase plans, forbearances, modifications 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.
• Perform other duties as assigned.

WHAT YOU'LL NEED:

• Strong working knowledge of Microsoft Suite (Word, Excel, Outlook, etc.)
• Ability to understand complex problems and to collaborate and explore alternative solutions
• Ability to organize and prioritize own work schedule on short-term and long-term basis
• Ability to add, subtract, multiply, and divide and to record, balance, and check results for accuracy
• Ability to clearly and accurately express or exchange ideas by verbally or in writing
• High school diploma or equivalent required
• Two (2) to three (3) years' of underwriting background or servicing/loss mitigation experience

Our Company:

Carrington Mortgage Services is part of The Carrington Companies, which provide integrated, full-lifecycle mortgage loan servicing assistance to borrowers and investors, delivering exceptional customer care and programs that support borrowers and their homeownership experience. We hope you'll consider joining our growing team of uniquely talented professionals as we transform residential real estate. To read more visit: www.carringtonmortgage.com .

What We Offer:

• Comprehensive healthcare plans for you and your family. Plus, a discretionary 401(k) match of 50% of the first 4% of pay contributed.
• Access to several fitness, restaurant, retail (and more!) discounts through our employee portal.
• Customized training programs to help you advance your career.
• Employee referral bonuses so you'll get paid to help Carrington and Vylla grow.
• Educational Reimbursement.
• Carrington Charitable Foundation contributes to the community through causes that reflect the interests of Carrington Associates. For more information about Carrington Charitable Foundation, and the organizations and programs, it supports through specific fundraising efforts, please visit: carringtoncf.org.

Notice to all applicants: Carrington does not do interviews or make offers via text or chat.

Carrington is an equal opportunity employer. It is the policy of the company that applicants be considered for positions for which they qualify without regard to race, color, religion, sex, gender identity, national origin, ancestry, age, marital status, sexual orientation, protected veterans status, physical or mental disability or any other legally protected category. Carrington will make reasonable accommodations for known physical or mental limitations of a qualified applicant or employee with a disability unless the accommodation will impose an undue hardship on the company.