What are the responsibilities and job description for the Loss Mitigation Specialist position at Iowa Bankers Mortgage Corporation?
The Loss Mitigation Specialist responds to customer inquiries and assists in the servicing department by performing the following duties.
- Responsible for tracking past due loans, reviewing borrower financial packages and establishing repayment arrangements or analyzing loss mitigation options according to investor guidelines.
- Processes loan modifications, payment deferrals, workouts, pre-foreclosure sales and deed-in-lieu transactions.
- Responsible for tracking Active Foreclosure loans to include correspondence with Law firms to complete foreclosure processes.
- Request and track expense reimbursements from investors for loss mitigation, foreclosure or bankruptcy expenses non-recoverable from borrowers.
- Provides superior customer service, both written and verbal, to homeowners, bankers, and other vendors.
- Performs a variety of clerical duties including filing or imaging of documents.
Required Education: High school diploma or general education degree (GED)
Required Work Experience: Two to three years related loss mitigation and mortgage banking experience and/or training; or equivalent combination of education and experience.
Technology Skills: Proficient in basic computer skills and all Microsoft Office applications.
Required skills or traits for the position: Accurately and efficiently process transactions. Follow established policies, procedures & guidelines. Demonstrate analytical decision making and problem-solving skills.