What are the responsibilities and job description for the Loss Mitigation Mortgage Specialist position at Lake Michigan Credit Union?
Loss Mitigation Mortgage Specialist
locations
Grand Rapids, MI
time type
Full time
posted on
Posted 2 Days Ago
job requisition id
REQ-2026-6557
Primary Location: Grand Rapids, MI
Employee Status: Full-Time
Workplace Type: Fully On-Site
Who we are:
At LMCU, you'll find more than just a job - discover a fulfilling career where your contributions truly matter. Join our talented team at Lake Michigan Credit Union and discover the difference an employer who puts people first can make in your career and life.
About this position:
The Loss Mitigation Mortgage Specialist role is responsible for performing collection activities on delinquent mortgage loans. Follows-up on problem accounts from preliminary phone calls through foreclosure as necessary. Reviews delinquent accounts assigned from early default, determines probable reasons for account status, and contacts members to resolve the delinquencies. Utilizes various techniques, as circumstances indicate, to mitigate loss potential. Provides support and assistance to area personnel and ensures that the Credit Union’s professional image is maintained.
What you’ll do:
Works all foreclosure files to ensure required timelines, guidelines, polices & procedures are followed.
Reviewing all USDA, FHA, RD, VA, FNMA & FMAC incoming hardship packages.
Reviewing all CFPB, USDA, FHA, RD, VA, FNMA & FMAC updates & reviews with management on any upcoming changes.
Adhere to and champion our core values of curious minds, collaborative hearts, and continuous excellence.
What you’ll bring:
One to three years of similar or related experience.
Working knowledge of FNMA, FHLMC, MLNF, FHA, and VA loan investor requirements.
Working knowledge of mortgage loan collection procedures and related laws and regulations.
Working knowledge of investor delinquent reporting requirements, policies, and procedures. General understanding of U.S. Bankruptcy Code and foreclosure processes.
Working knowledge of payoff and re conveyance time requirements.
Working knowledge of PMI and FHA mortgage insurance policies.
Freddie Mac /Fannie Mae servicing experience preferred.
What you’ll get:
All Employees: weekly pay and retirement savings options.
Full Time Employees: comprehensive health coverage including medical (with prescription), dental, vision, HSA match, paid parental leave, and tuition reimbursement.
To see a full list of our benefit offerings, check out this helpful guide!