Loss Mitigation Underwriter; remote

Overview

Service Mac is a new sub-servicing entity backed by leading mortgage servicing industry practitioners. We focus on providing superior technology, products, and services for the mortgage and real estate industries, supported by personalized service and support. Our inclusive, people-first culture has earned recognition, including being named to the Fortune 100 Best Companies to Work For list for ten consecutive years, and awards for women, diversity, and LGBTQ+ employees.

First American strives to be a great place to work for all.

Views and evaluates applications, renewals, re-pricings, restrictions, and cancellations to determine risk acceptability and coverage. Calculates borrower’s income and expenses to a high standard of accuracy. Manages a caseload of files from application to modification. Updates and notes the system of record and investor portals. Operates according to standard operating procedures and all government and investor regulations. Aims to achieve goals and objectives with a focus on quality of service and improving the customer experience, while avoiding unwarranted delays to processes or defaults.

• Reviews and evaluates policy applications, renewals, re-pricings, restrictions, and cancellations to determine risk acceptability and coverage.
• Reviews loss mitigation package documentation to determine if the homeowner qualifies for a loss mitigation option. Reports information to the investor, client, and insurer.
• Educates homeowners about loan modification programs, forbearance plans, repayment plans, short sales, and deeds in lieu options as applicable.
• Calculates income, expenses, and escrow advances in accordance with departmental and investor/insurer/client guidelines.
• Orders and reviews title searches and BPO/AVM/appraisals as applicable.
• Reviews and implements, according to investor/client/insurer guidelines, loan modifications, forbearances and repayment terms, short sales, and deeds in lieu.
• For short sales, reviews marketing strategies, listing history, and offer activity; resolves counter offers in accordance with procedures and guidelines.
• Requests and follows up on foreclosure holds as necessary.
• Submits loss mitigation requests to investor/client/MI for approval as required.
• Declines files as directed in accordance with procedures and sends appropriate denial letters if no workout option qualifies the homeowner.
• Prepares and sends trial period documents, forbearance plan documents, repayment plan agreements, short sale approval and closing letters, and decline letters as needed.
• Monitors status of repayment plans, forbearance plans, and trial period plans and updates MSP and investor systems with payment records as needed.
• Answers inbound calls, returns voicemails, handles escalations, and responds to requests within 24 hours from receipt.
• Contacts homeowners and real estate agents to provide status updates on loss mitigation files.
• Maintains a caseload of files as established by the department.
• Manages written and verbal communications among homeowners, client, investor, insurer, subordinate lien holders, real estate agents, consumer credit counseling services, and foreclosure attorneys.
• Follows functional area processes and procedures, troubleshoots as needed, and recommends improvements to operations.
• Actively contributes to team results and works toward goals and objectives.

• Uses established procedures to perform assigned tasks.
• Instructions may be detailed for new assignments.

• No responsibility for supervision of others.
• Works under supervision applying established techniques, procedures or standards.
• Work may be reviewed for soundness of judgment and overall accuracy.

• Working knowledge of fundamental concepts, practices, and procedures of the department/field.
• Knowledge of Black Knight MSP system preferred.
• Knowledge of Consumer Financial Protection Bureau (CFPB) and Fair Debt Collection Practices Act (FDCPA) guidelines preferred.
• Risk assessment skills.
• Organized and self-motivated with ability to meet strict deadlines.
• Persuasive and professional…