Loss Mitigation Specialist Underwriter
Loss Mitigation Specialist Underwriter
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Job Description
Description
Position Summary:
Responsible for managing a portfolio of current to severely delinquent accounts where a borrower hasrequested loss mitigation assistance. Analyzes and understands credit bureau reports tax returns financialstatements pay stubs bank statements and other supporting documentation to verify borrower(s) financialsituation and determines the best foreclosure alternative. In addition identifies the best foreclosurealternative solution by following FHA VA USDA FNMA FHLMC waterfall guidelines and arranging Repaymentsplans Loan Modifications PreForeclosure Sales and Mortgage Release. Demonstrates full understanding ofall FHA VA USDA FNMA FHLMC loss mitigation retention and disposition guidelines to effectivelymitigate loss for investor and company. Demonstrates a strong understanding of all FHA VA USDA FNMAFHLMC income & expense calculation guidelines and requirements.
Responsibilities:
- Underwritesloans for loss mitigation in accordance with FHA VA USDA FNMA FHLMC guidelines anddecisions all loss mitigation waterfall options for borrower(s) seeking workout assistance.
- Recommendsloss mitigation actions on requests for proposed foreclosure alternatives withintimeframes established by investor.
- Independentlymaintains a portfolio size of 100 loans by meeting all investor departmental andcompany guidelines.
- Worksdirectly with Borrower Advocate team on loss mitigation follow ups approval or denials.
- Demonstratesthorough understanding of credit risk and ability to review financial documents.
- Utilizesability to read and interpret title searches and rectify outstanding judgements liens etc.
- Maintainsquality control and production standards defined by loanDepot.
Requirements:
- 3 years of Loss Mitigation Underwriting experience required.
- Experience working in MSP/Black Knight required.
- Bachelors Degree preferred
Why work for #teamloanDepot:
- Aggressive compensation package based on experience and skill set
- Inclusive diverse and collaborative culture where people from all backgrounds can thrive
- Work with other passionate purposeful and customercentric people
- Extensive internal growth and professional development opportunities including tuition reimbursement
- Comprehensive benefits package including Medical/Dental/Vision
- Wellness program to support both mental and physical health
About loanDepot:
loanDepot (NYSE: LDI) is a digital commerce company committed to serving its customers throughout the home ownership journey. Since its launch in 2010 loanDepot has revolutionized the mortgage industry with a digitalfirst approach that makes it easier faster and less stressful to purchase or refinance a home. Today as the nations second largest nonbank retail mortgage lender loanDepot enables customers to achieve the American dream of homeownership through a broad suite of lending and real estate services that simplify one of lifes most complex transactions. With headquarters in Southern California and offices nationwide loanDepot is committed to serving the communities in which its team lives and works through a variety of local regional and national philanthropic efforts.
We are an equal opportunity employer and value diversity in our company. We do not discriminate based on race religion color national origin gender sexual orientation age marital status veteran status or disability status.
Required Experience:
Unclear Seniority
Employment Type
Full Time
