Loss Mitigation Workout Completion Specialist

Loss Mitigation Workout Completion Specialist

Guild Mortgage Company, closing loans and opening doors since 1960. As a mortgage banking firm we are dedicated to serving the home owner/buyer. Our goal is to provide affordable home financing for our customers, utilizing the best terms available while providing a level of professionalism and service unsurpassed in the lending industry.

The Loss Mitigation Workout Closing Specialist is responsible for managing the closing process of loan workout packages, ensuring compliance with investor, insurer, state, federal, and CFPB guidelines. This role involves coordinating with various teams, maintaining accurate records, and providing exceptional customer service to ensure a seamless and efficient loss mitigation process. Additionally, the Workout Completion Specialist oversees the quality control of borrower-executed documents, ensuring that approved workout terms amortize and cure delinquencies.

They manage the finalization of workout terms in our proprietary system, I5, and collaborate closely with departments such as cashiering and loan accounting to ensure accurate and timely processing of loans eligible for buyout.

This role is a non-exempt position with a targeted salary range of $26/hour to $28/hour. Compensation at Guild is influenced by a wide array of factors including but not limited to local and federal minimum wage requirements, education, level of experience, and applicant's geographical location.

Essential functions include conducting quality control of borrower-executed documents to ensure proper notarization and execution, reconciling modifications to ensure the capitalized amounts align with the adjustments to the loan's unpaid principal balance, performing quality control of funds movement, escrow balance, and advance setup in the system of record, collaborating with teams such as cash management, escrow, and investor accounting for any necessary adjustments, researching, reconciling, reclassifying, and remitting corporate advances resulting from loss mitigation workouts, managing and paying post-workout invoice payments resulting from completed workouts, submitting workout settlements to investor systems (FNMA and FHLMC) and performing final quality control of the internal system to ensure it reflects workout documents before closing workout templates, monitoring borrower accounts approved for FHA Payment Supplement population and processing requests for termination and cancellations, submitting documents for recording by mail or approving submission in the document vendor system, clearing delinquencies cured by the workouts and ensuring documents are approved for recording, completing FNMA reclassifications before finalizing workout terms in the proprietary system, I5, collaborating with cashiering and loan accounting teams to ensure accurate processing of loans, preparing loans eligible for buyout, ensuring all necessary documentation and approvals are in place, troubleshooting and resolving any issues related to workout completion and document quality control, assisting in developing and implementing procedures to improve the workout completion process, providing excellent customer service to internal and external stakeholders, communicating and collaborating effectively with individuals and teams to ensure high-quality and timely responses and resolutions to issues, identifying needs, proposing innovative solutions, and delivering results within timelines, participating in activities and projects aimed at improving business performance, maintaining effective communication with the management team and escalating issues as needed, staying current on industry regulations and recommending updates to internal policies, procedures, and systems based on new or changed requirements, ensuring compliance with company policies, industry regulations, and legal requirements, handling confidential information with discretion, following Guild's information security policies, and performing other duties as assigned.

Qualifications include a high school diploma or equivalent, required, a bachelor's degree directly related to the position or equivalent, preferred, minimum two or more years total mortgage servicing experience or loss mitigation roles, analytical skills, ability to organize and manage multiple priorities simultaneously, ability to work well independently or within a team, accurate data entry, strong interpersonal and customer service skills, must be able to handle confidential matters with discretion, excellent interpersonal communication skills required, strong working knowledge of FNMA/FHLMC/FHA/VA/USDA mortgage loan documents, including overall processes and inter-relationships, standards and requirements, terminology, compliance and regulatory requirements related to federal debt collection laws, Federal Bankruptcy Laws, and proper handling of other legal situations, knowledge of Standard Operating Procedures, CFPB, FCRA, and FDCPA preferred,…