What are the responsibilities and job description for the Loss Mitigation Underwriter position at East West Bank?
Introduction
Since 1973, East West Bank has served as a pathway to success. With over 110 locations across the U.S. and Asia, we are the premier financial bridge between the East and West. Our teams of experienced, multi-cultural professionals help guide businesses and community members on both sides of the Pacific looking to explore new markets and create new opportunities, and our sustained growth and expertise in industries like real estate, entertainment and media, private equity and venture capital, and high-tech help build sustainable businesses and expand our associates’ potential for career advancement. Headquartered in California, East West Bank (Nasdaq: EWBC) is a top-performing commercial bank with a strong foundation, an enterprising spirit and a commitment to absolute integrity. East West Bank gives people the confidence to reach further.Responsibilities
- Facilitate the collection of all pertinent documentation.to complete loan assistance packages.
- Communicate to borrower the loss mitigation assistance programs.
- Track incoming applications using modification database
- Analyze and document the circumstances which justify a loan modification.
- Evaluate and assess the borrower's financial status, current income and asset situation and ability to pay.
- Use accepted methods to reduce the borrower's monthly payments
- Using an updated AVM report the modification underwriter will confirm the current market value of the property as security for the loan.
- Check the Department of Defense database to determine if borrower is on active duty
- Document the loan servicing system.
- Run credit reports
- Set up repayment plans.
- Track Modification until all system updates are completed.
- Make Loan Workout solicitation calls.
- Prepare and send Modification Agreement to Borrower
Qualifications
- Bachelor’s Degree or equivalent education and work experience required
- 2 years of experience as an Underwriter/Mortgage Experience preferred.
- Analytical thinker with research proficiencies.
- Ability to use reasonable and sound judgment.
- Strong problem-solving and decision-making skills.
- Strong interpersonal and negotiation skills.
- Proficient with Microsoft Word, Excel, and Outlook
Compensation
The base pay range for this position is USD $73,000.00/Yr. - USD $88,000.00/Yr. Exact offers will be determined based on job-related knowledge, skills, experience, and location.Salary : $73,000 - $88,000