Loss Mitigation Underwriter Specialist
3 days ago
In a role with Imagine Staffing Technology, you will be working as a Loss Mitigation Underwriter I in Buffalo, NY. This is a Contract position with an hourly pay rate of $26.
Job Description
Imagine Staffing Technology is recruiting for a Loss Mitigation Underwriter I to work with a premier client within the banking industry. This position is responsible for submitting loan modification workups for the entire waterfall of investor workout options.
Key Responsibilities:
- Understand investor's waterfall and required documents for loss mitigation.
- Communicate with customers, real estate agents and attorneys to negotiate short sale settlement offers and advise of loss mitigation decisions.
- Manage and monitor account portfolio to ensure that all documentation and account decisions comply with banking policies, investor guidelines and applicable regulations.
- Assess property value and variance between appraised properties and offers submitted by potential buyers.
- Review tax returns, income statements, pay stubs, credit reports and general customer financial documents.
- Determine the most suitable repayment option for customers and calculate loan modification terms.
- Prepare workout summaries for management approval.
- Communicate with Single Point of Contact, title vendors and Loss Mitigation Closing team to gather information and resolve account complications.
- Adhere to applicable compliance/operational risk controls in accordance with Company or regulatory standards and policies.
- Maintain M&T internal control standards, including timely implementation of internal and external audit points together with any issues raised by external regulators as applicable.
- Promote an environment that supports diversity and reflects the M&T Bank brand.
- Complete other related duties as assigned.
Requirements:
- A combined 3 years' higher education and/or experience, including a minimum of 1 year collections or underwriting experience.
- Ability to communicate effectively and professionally over the phone.
- Excellent communication and customer service skills.
- Proficiency with word processing and spreadsheet software.
- Education and Experience Preferred: Bachelor's degree. Paralegal certification or experience. Mortgage collections experience.
- Knowledge of M&T systems.
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