Loss Mitigation Underwriter II
$47,029–$78,354 year
On-siteGetzville, New York, United States
Job Summary
Submit loan modification workups for the entire waterfall of investor workout options and prepare loans for foreclosure mediation hearings. Manage and monitor an account portfolio of 70 loans to ensure documentation and account decisions comply with banking policies, investor guidelines, and applicable regulations. Assess income, expenses, property values, and variances between appraisals and offers to determine suitable repayment options. Serve as a liaison to investors including Fannie Mae, Freddie Mac, and M&T Bank to gain approval for settlements and provide necessary documentation. Review workout packages including hardship letters, tax returns, and credit reports to calculate loan modification terms in adherence with guidelines and state and federal laws. Communicate with Single Point of Contact, title team, and closing teams to resolve escalated accounts and negotiate short sale settlement offers. Maintain notes for management and audit review purposes and complete special ad hoc projects as requested by management.
Required Qualifications
- A combined 4 years' higher education and/or experience
- Minimum of 2 years' collections or underwriting experience
- Ability to communicate effectively and professionally over the phone
- Excellent communication and customer service skills
- Proficiency with word processing and spreadsheet software
- Knowledge and understanding of land title
Desired Qualifications
- Bachelor's degree
- Paralegal certification or experience
- Mortgage collections experience
- Knowledge of M&T systems
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