Loan Workout Associate - Mortgage

Description General Job Summary

The Loss Mitigation Associate is responsible for minimizing foreclosures, which includes but is not limited to debt counseling. The role ensures loss mitigation financial packages are reviewed timely and properly while complying with investor and insurer regulations, helping as many customers as possible to avoid foreclosure under strict and constantly changing regulatory requirements. Activities include processing workouts, reporting to investors, and complying with applicable guidelines and regulations.

• Review financial packages for completeness.
• Process workouts and monitor workouts based on GSE, FHA, USDA, VA, FHLB, GNMA and private client guidelines.
• Ensure all federal, state and investor guidelines and requirements are adhered to for underwriting review and decision.
• Monitor & respond to departmental email.
• Communicate with customers, credit unions, insurers, and secondary market investors to strategize workout programs.
• Report workouts to investors, Treasury, and investor vendors.
• Counsel delinquent customers and attend mitigation meetings with attorneys via phone.
• Work with other departments to ensure appropriate changes to the system, correct application of payments, and to place foreclosures on hold or cancel them as appropriate.
• Collaborate with State Assistance and Hardest Hit Programs.
• Maintain ICE’s MSP and Loan Sphere with appropriate codes and comments.
• Complete updates in FHA Connection, SMDU, FHLMC Resolve, USDA-LINC, VA Valeri, FHLB eMAQCS.
• Maintain accuracy in payments posted to loans in the loss mitigation process.

• Attend all training sessions for the department.
• Update and review announcements and changes to workout programs.
• Perform all other duties assigned by management.

• High school diploma (or equivalent) required.
• Minimum 2 years of experience in mortgage loss mitigation and related default servicing.
• Familiarity with GSE, FHA, USDA, VA, FHLB and GNMA loss mitigation guidelines.
• Strong understanding of foreclosure prevention options and regulatory compliance.
• Proficiency in loan servicing systems MSP and LMS (ICE).
• Strong attention to detail and organizational skills.
• Effective verbal and written communication abilities.

• Maintain and foster positive relationships with customers and business partners.
• Complete all assigned training in a timely manner.
• Provide professional communication in both oral and written expression.
• Excellent organizational, time management, and analytical skills.
• Organizational skills with ability to prioritize and meet deadlines while maintaining high accuracy.
• Ability to manage confidential information.
• Strong analytical skills, with the ability to seek out and offer business-oriented solutions.
• High degree of dependability.

Primary working environment is within an indoor climate‑controlled office space and/or a private home office, or a combination thereof at management’s sole discretion. Employees may be subject to fluorescent lighting, dust, and other normal indoor allergens. Employees may work in close proximity to coworkers and occasionally independently in quiet environments.

• Able to lift up to 20 pounds.
• Extended periods of sitting at a computer desk.
• Complete repetitive tasks, including operation of computer mouse and keyboard.

The above statements are intended to describe the general nature and level of work being performed by people assigned to this classification. They are not to be construed as an exhaustive list of all responsibilities, duties, and skills required of personnel so classified. All personnel may be required to perform duties outside of their normal responsibilities from time to time, as needed.

University Bank is an Equal Opportunity / Affimative Action Employer.