Loan Workout Associate - Mortgage
On-site · Hancock, Michigan, United States
Job Summary
Responsible for minimizing foreclosures by reviewing financial packages, processing workouts, and monitoring workout activities in alignment with GSE, FHA, USDA, VA, and GNMA guidelines. Responsibilities include ensuring adherence to federal, state, and investor requirements, communicating with customers, credit unions, insurers, and investors to strategize workout programs, reporting workouts to investors and Treasury, counseling delinquent customers via phone, coordinating with other departments to ensure correct payments and hold/cancel foreclosures as appropriate, working with State Assistance and Hardest Hit Programs, maintaining loan-system codes and comments (ICE’s MSP and LoanSphere), updating FHA Connection and related systems, and participating in training. Additional duties as assigned by management and ongoing updates to workout programs. This role emphasizes mortgage loss mitigation processing, compliance, customer counseling, and cross-department collaboration.”,
Required Qualifications
- High school diploma (or equivalent) required
- Minimum 2 years of experience in mortgage loss mitigation and related default servicing
- Familiarity with GSE, FHA, USDA, VA, FHLB and GNMA loss mitigation guidelines
- Strong understanding of foreclosure prevention options and regulatory compliance
- Proficiency in loan servicing systems MSP and LMS (ICE)
- Strong attention to details and organizational skills
- Effective verbal and written communication abilities
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