Loss Mitigation Specialist

2 weeks ago

Plano, United States loanDepot Full time
Description

Position at loanDepot

Position Summary:

Responsible for managing a portfolio of current to severely delinquent accounts where a borrower has requested loss mitigation assistance. Analyzes and understands credit bureau reports, tax returns, financial statements, pay stubs, bank statements, and other supporting documentation to verify borrower(s) financial situation and determines the best foreclosure alternative.

Responsibilities:
  • Underwrites loans for loss mitigation in accordance with FHA, VA, USDA, FNMA, FHLMC guidelines and decisions all loss mitigation waterfall options for borrower(s) seeking workout assistance.
  • Demonstrates full understanding of all FHA, VA, USDA, FNMA, FHLMC loss mitigation retention and disposition guidelines to effectively mitigate loss for investor and company.
  • Recommends loss mitigation actions on requests for proposed foreclosure alternatives within timeframes established by investor.
  • Manage a portfolio size of 100+ loans by meeting investor, departmental and company SLA's.
  • Works directly with Borrower Advocate team on loss mitigation approvals and denials.
  • Demonstrates thorough understanding of credit risk and ability to review financial documents.
  • Utilizes ability to read and interpret title searches, rectify outstanding judgements, liens, etc.
  • Maintains quality control and production standards defined by loanDepot.
Requirements:
  • 3 + Years of Loss Mitigation Underwriting experience is required.
  • Must be able to commute to Plano, TX full time, 5 days per week.
  • MSP/Black Knight experience required with familiarity of internal CRM usage
  • Knowledge of title, property value, modifications, partial claims, payments and retention.
  • Proficiency of Microsoft Office applications including: Word, Excel, PowerPoint, and Outlook.
  • Self-motivated and able to multi-task with minimal supervision
  • Bachelor's Degree preferred or equivalent.
Why work for #teamloanDepot:
  • Aggressive compensation package based on experience and skill set.
  • Inclusive, diverse, and collaborative culture where people from all backgrounds can thrive.
  • Work with other passionate, purposeful, and customer-centric people.
  • Extensive internal growth and professional development opportunities indulging tuition reimbursement.
  • Comprehensive benefits package including Medical/Dental/Vision.
  • Wellness program to support both mental and physical health.

About loanDepot:

loanDepot (NYSE: LDI) is a digital commerce company committed to serving its customers throughout the home ownership journey. Since its launch in 2010, loanDepot has revolutionized the mortgage industry with a digital-first approach that makes it easier, faster, and less stressful to purchase or refinance a home. Today, as the nation's second largest non-bank retail mortgage lender, loanDepot enables customers to achieve the American dream of homeownership through a broad suite of lending and real estate services that simplify one of life's most complex transactions. With headquarters in Southern California and offices nationwide, loanDepot is committed to serving the communities in which its team lives and works through a variety of local, regional, and national philanthropic efforts.

We are an equal opportunity employer and value diversity in our company. We do not discriminate based on race, religion, color, national origin, gender, sexual orientation, age, marital status, veteran status, or disability status.

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