Loss Mitigation Manager

4 days ago

Young America, United States CMG Financial Full time
Description

POSITION OVERVIEW:
The Loss Mitigation Manager will be responsible for overseeing the underwriting process of loss mitigation strategies. They will work with all Servicing departments to establish a net-new mortgage servicer. This role involves managing a team of underwriters, ensuring compliance with regulatory requirements, and implementing effective loss mitigation policies and procedures. This position plays a critical role in assisting borrowers facing financial difficulties by facilitating loss mitigation options.

ESSENTIAL DUTIES and RESPONSIBILITIES, includes the following responsibilities, but not limited to:

  • Ensures all underwriting decisions comply with company policies, investor guidelines, and regulatory requirements.
  • Ensure accurate and timely documentation and reporting of underwriting decisions and actions.
  • Ensures a customer-centric approach in loss mitigation efforts.
  • Resolves escalated customer issues and complaints related to loss mitigation.
  • Promotes a culture of empathy and understanding in dealing with distressed borrowers.
  • Assists in the design and build of the Loss Mitigation ecosystem, including technology, training, procedures, etc.
  • Develops and implements loss mitigation underwriting policies and procedures.
  • Manages the day-to-day performance of the Underwriting team including ensuring that key performance metrics are met or exceed with budget.
  • Recruits, leads, inspires, the Loss Mitigation department to create a diverse, passionate, and engaged department, on-site and remote.
  • Ensures compliance with State, Federal, Regulatory, and Investor Requirements and guidelines, maintains up-to-date knowledge of internal policies and procedures, and understands how requirement changes affect the operation.
  • Collaborates with risk management and compliance teams to ensure adherence to internal controls and regulatory standards.
  • Stays updated on industry trends, regulatory changes, and best practices in loss mitigation and continuously evaluates and improves underwriting processes to enhance efficiency and effectiveness.
  • Other projects and assignments as needed.
QUALIFICATIONS AND EXPERIENCE
  • Proven experience leading areas within servicing operations & managing multiple verticals.
  • The ideal candidate will have 5-7 years of previous experience within loss mitigation,
  • Demonstrates a deep understanding of FNMA, FHLMC, FHA, VA, USDA loss mitigation programs.
  • In-depth knowledge of loss mitigation strategies, underwriting principles, and regulatory requirements.
  • Liquidations (Short-Sale & Deed-in-Lieu) experience preferred.
  • Mediations attendance experience preferred.
  • Ability to have a cross-functional impact across the servicing operation.
  • Highly organized, reliable, and results-driven.
  • Ability to hustle, willingness to learn, and adapt quickly to working in a fast-paced, fluid environment.
  • Excellent communication skills both written and verbal.
  • Excellent leadership skills to lead and motivate a growing service operation.
  • Ability to engage with directors and managers to achieve goals and objectives.
  • Ability to work independently and as a member of a high performing team.
  • Commitment to excellence, integrity and extraordinary standards.


SUPERVISORY RESPONSIBILITIES:

Direct Reports: Yes

PHYSICAL and ENVIRONMENTAL CONDITIONS

Standard office environment, equipment and tasks, including work at a computer terminal. This position requires partial sitting and walking throughout the day. Employee must be open to work overtime to complete assigned tasks.

CMG pays a competitive salary which ranges from $90,000 to $110,000. Factors that affect salary may include: Loss Mitigation Management experience, overall knowledge of mortgage servicing industry, number of years worked in mortgage industry, computer skills, customer service experience specific to working with mortgage customer's, and education.

CMG MORTGAGE, INC. NMLS #1820 If you are a recruiter or placement agency, please do not submit resumes to any person or email address at CMG Financial prior to having a signed agreement . CMG Financial is not liable for and will not pay placement fees for candidates submitted by any agency other than its approved recruitment partners. Furthermore, any resumes sent to us without an agreement in place will be considered your company's gift to CMG Financial and may be forwarded to our recruiters for their attention.

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