Loss Mitigation Specialist
5 days ago
We are seeking a skilled Loss Mitigation Underwriter I to join our team at Imagine Staffing Technology in Buffalo, NY. This role involves submitting loan modification workups for investor workout options and communicating with customers to negotiate short sale settlement offers.
Key Responsibilities:
- Understand investor's waterfall and required documents for loss mitigation.
- Communicate effectively with customers, real estate agents, and attorneys to advise on loss mitigation decisions and negotiate short sale settlement offers.
- Manage and monitor account portfolios to ensure compliance with banking policies, investor guidelines, and regulations.
- Assess property value and variance between appraised properties and buyer offers.
- Review financial documents, including tax returns, income statements, pay stubs, credit reports, and customer financial information.
- Determine suitable repayment options for customers and calculate loan modification terms.
- Prepare workout summaries for management approval and communicate with relevant teams to resolve account complications.
Requirements:
- A combined 3 years' higher education and/or experience, including 1 year of collections or underwriting experience.
- Excellent communication and customer service skills.
- Proficiency in word processing and spreadsheet software.
- Preferred qualifications: Bachelor's degree, paralegal certification, mortgage collections experience, and knowledge of M&T systems.
Payscale:
This position offers an estimated hourly salary of $26/hr, making it an attractive opportunity for those seeking a challenging role in the banking industry.
About Us:
Imagine Staffing Technology is a premier staffing agency specializing in placing top talent in various industries, including banking. We prioritize our candidates' growth and success, providing them with opportunities to develop their skills and advance their careers.
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