What are the responsibilities and job description for the Mortgage Loss Mitigation Specialist position at First United Bank?
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The Position
Job Title
Mortgage Loss Mitigation Specialist
Job Description
SUMMARY
This position is responsible for providing exceptional service during the default process, to both internal and external customers. The Loss Mitigation Specialist will partner with other departments including Customer Service, Escrow, Foreclosure, Bankruptcy, Cashiering and other operations groups as necessary. In this role, this person will work with these different departments and the borrower to provide the appropriate loss mitigation options to ensure the best outcome for the borrowers and the company.
MAJOR DUTIES AND RESPONSIBILITIES (ESSENTIAL FUNCTIONS)
- Be the primary contact for internal and external customers and approved third parties. Be able to speak about loss mitigation options while providing exceptional customer service.
- Assist customers, via email and phone, with routine account-related questions and requests as well as collection of payments required during a loss mitigation review.
- Be well versed in Loss Mitigation investor specific guidelines.
- Vast understanding of regulatory guidelines as they pertain to loss mitigation.
- Collect missing documents from borrowers to complete their loss mitigation reviews.
- Review modification documents to ensure accuracy of terms and verbiage.
- Complete loss mitigation reviews within the SLAs provided by the department and investors.
- Provide recommendations for process improvements.
- Stay informed of mortgage default servicing industry updates.
ADDITIONAL DUTIES AND RESONSIBILITIES
- Handles customer complaints and escalates issues to Manager as needed.
- Maintain cleanliness in and around workstations.
- Recommends to supervisor methods to improve department.
- Complete all required compliance exams on a yearly basis.
- Adherence to all First United Policies and Procedures.
- Dress professionally (Business Casual).
- Other duties as assigned by supervisor.
EMPLOYEE SPECIFICATIONS
To perform this job successfully, an individual must be able to perform each essential duty satisfactorily. The requirements listed below are representative of the knowledge, skill, and/or ability required. Reasonable accommodations may be made to enable individuals with disabilities to perform the essential functions.
Education and Work Experience – 2 Years
- Bachelor’s degree, (Preferred)
- High School or Equivalent (GED), Required.
- Loss Mitigation Processing
- Knowledge of Loss Mitigation Investor guidelines for FNMA, FHLMC & GNMA. (Preferred)
- Portfolio Management
- Call Center
- Customer Service
- Collections
- Financial services/operations environment
Technical/Functional Competencies
- Basic mathematical skills.
- Proficient computer skills.
- Strong written and verbal communication skills.
- Exceptional customer service skills.
- Strong negotiation skills.
- Knowledge of MSP (Preferred)
- Knowledge of corporate policy, laws and regulatory requirements of area of responsibility.
- Ability to work in a team environment to resolve problems.
- Good problem-solving and decision-making skills.
- Demonstrates good judgment.
- Strong organizational skills.
- Ability to work in a fast-paced environment and work well under pressure.
- Strong interpersonal skills and ability to work well with a wide range of people.
- Ability to use e-mail, phone, and other communication tools are necessary.
- Willingness to accept additional responsibilities.
- Dependable and adheres to timelines and schedules.
- Takes initiative in development and completion of projects.
Physical Working Conditions
This is sedentary work that requires the following physical activities:
- Sitting or standing for extended periods, walking, finger dexterity, feeling, repetitive motions, talking hearing, and visual acuity including close vision.
- Occasional lifting (up to 10 pounds of computer equipment or paper).
- May be required occasionally to stoop or kneel.
- Accommodation may be made for some of these physical demands for otherwise qualified individuals who require and request such accommodation.
Working Conditions
- Normal Office environment.
- Moderate noise level.
NOTE: This job description is not intended to be all-inclusive. The employee may perform other related duties as assigned by the supervisor to meet the ongoing needs of the organization.
All Locations:
Plano-Parkwood
If any applicant is unable to complete an application or respond to a job opening because of a disability, please email us at
HR@firstunitedbank.com
for assistance.
First United is an Equal Opportunity Employer. To the extent required by Federal or State law, First United does not discriminate in employment opportunities or practices on the basis of race, color, religion, sex, national origin, or any other characteristic protected by law.