Role Description

The objective of the Loss Mitigation Department is to assist borrowers to avoid foreclosure and mitigate the losses of non-performing assets by offering retention or liquidation options based on each borrower’s unique circumstances.

• Provide a single point of contact to specific customers who are having difficulty making payments.
• Help the customer apply for payment relief programs and understand alternatives to foreclosure.
• Own the contact with the customer from the point of referral through to resolution.
• Resolution may include return to current payment status, short-term payment plan, loan modification, short sale, deed-in-lieu, or foreclosure.
• Inform the customer of all options and programs.
• Assist in gathering all necessary information from customers.
• Advise customer of eligibility for programs and decisions on payment relief requests.
• Help customer consider other alternatives to foreclosure if payment relief is not approved.

Qualifications

• High School Diploma or equivalent required.
• MUST be able to operate in a WINDOWS environment, MS Word and Excel preferred.
• Excellent customer service skills (written and verbal).
• Ability to collaborate with various constituents.
• Strong influencing skills.
• Must be able to work in a fast pace, high volume area.
• Excellent organizational and time management skills.

Requirements

• Act as single point of contact for specific borrowers, while managing them through and/or out of the default process.
• Retain complete accountability for borrower’s requests relative to delinquency process.
• Engage in loss mitigation discussions and develop workout hierarchy with borrowers when appropriate.
• Utilize proper listening and negotiation skills to maintain delinquent loans through repayment agreements.
• Service delinquent mortgage loan accounts in accordance with client, investor and insurer guidelines.
• Perform in accordance with expectations as set forth in the department’s policies and procedures.
• Ensure that all communication to borrowers and authorized third parties is simple to understand and empathetic.
• Comply with all state and federal laws and DMI’s Legal and Information Protection requirements.
• Collaborate with various support departments to identify needs and propose innovative solutions.
• Escalate issues timely to applicable channels.
• Attend meetings and participate in projects.
• Successfully complete mandatory training requirements and department specific training.
• Successfully complete annual regulatory compliance training.
• Perform other related duties as assigned.

Benefits

• Medical, Dental, Vision, Wellness, Flexible Spending Account, and Employee Assistance Program and more.
• Employer paid Life Insurance, Short Term Disability, and Long-Term Disability.
• 401 (K) Plan with company match.
• Paid Vacation, Sick, Personal and Holidays.