Loss Mitigation Specialist
Loss Mitigation Specialist
Posted on :
10-04-2025
Employer Active
1 Vacancy
Job Alert
You will be updated with latest job alerts via emailValid email field required
Send jobs
Share
Send me jobs like this
Job Alert
You will be updated with latest job alerts via emailValid email field required
Send jobs
Monthly Salary
Not Disclosed
Salary Not Disclosed
Vacancy
1 Vacancy
Posted on :
10-04-2025
Job Description
More than 130 years ago we started with core values that never go out of style: listen learn and help businesses and individuals reach their goals. Our financial strength and stability are key reasons Forbes names us one of the Best 100 Banks in America the past eight consecutive years and Newsweek names Banner one of the Most Trustworthy Companies the past four years.
With more than $15 billion in assets and over 150 locations throughout Washington Oregon Idaho and California we understand our role in the economy and take that responsibility seriously. In addition to offering a source of capital to personal banking clients and businesses of all sizes we place a high importance on employee volunteerism and donate millions of dollars each year to community organizations.
As a Loss Mitigation Specialist you will be responsible for loss mitigation efforts as well as bankruptcy file processing pertaining to investor owned loans (or portfolio loans with private mortgage insurance) within the Mortgage Servicing portfolio. Ensure timely and accurate administration monitoring and reporting of loss mitigation efforts and results to investors private mortgage insurers and regulatory agencies. Assist with collection calls and correspondence with delinquent customers.
In this role youll have the opportunity to:
- Responsible for placing calls to customers regarding past due payments using assigned collection queues. Update loan records to with customer profile information. Document attempts to contact and customer conversations.
- Responsible for sending appropriate correspondence to customers based on delinquency and other loan characteristics. Answer customer inquiries related to past due payments and payment changes related to escrow escrow analysis and adjustable rates.
- Responsible for advising customers on retention or nonretention loss mitigation options available based on loan type state and investor parameters. Establish payment plan options to maximize borrower success in retaining their home. Report loan status and/or process claims accurately and timely to investors agencies and/or PMI companies.
- Monitor bankruptcy court status processes and accounts for loan payments associated with bankruptcy plan. Prepare and file routine bankruptcy documents with the bankruptcy court.
- Responsible for modifying or correcting credit reporting and/or late charge assessment as situations require and research supports. Work with credit repositories to ensure accurate reporting in accordance with the FACT Act.
- Responsible for calculating income and reviewing customer financial information and make recommendations in accordance with loss mitigation option hierarchy or foreclosure. Negotiate calculate draft and monitor repayment forbearance or loan modifications for receipt of payments in accordance with the agreement.
- Responsible for obtaining inspections BPOs and/or appraisals. Review results for recommendations regarding risk rating charge offs property repairs and securitization. Perform maintenance pertaining to chargeoffs nonaccruals and risk ratings.
- Responsible for complying with policies procedures security requirements and government regulations.
Education & Certifications
- H.S. Diploma: required (an equivalent combination of education and experience may be considered)
Experience
- 4 or more years of customer service collections or mortgage servicing experience or legal experience pertaining to bankruptcy and/or foreclosures required
Knowledge Skills and Abilities
- Knowledge of basic accounting principals. Solid understanding of residential lending programs investor relationships and mortgage insurance.
- Ability to prioritize multitask and meet deadlines.
- Ability to work independently and as part of a team.
- Ability to communicate in a positive and professional manner through telephone email or written correspondence with customers and coworkers.
- Ability to understand and apply changes to regulations and requirements to daily work.
- Knowledge of investor federal and state laws and regulations relating to mortgage servicing and collections.
Compensation & Benefits
- Targeted starting salary range (based on experience): $20.00 $24.00 hourly
- Incentive potential
- Comprehensive employee benefits including: medical dental vision LTD STD and life insurance
- Paid vacation time sick time and 11 company paid holidays
- 401k (with up to 4 match)
- Tuition reimbursement
- Get more information at: Employee Benefits Banner Bank
Please take time to review Banner Banks Consent & Privacy notice before applying.
Banner Bank is an Equal Opportunity Employer committed to diversity in the workplace. All qualified applicants will receive consideration for employment without regard to race color religion sex sexual orientation gender identity national origin citizenship marital status age disability or protected veteran status.
Banner Bank does not accept unsolicited resumes from agencies and/or search firms for any job postings. Resumes submitted to any Banner Bank employee by a thirdparty agency and/or search firm without a valid written and signed search agreement will become the sole property of Banner Bank. No fee will be paid if a candidate is hired for a position as a result of an unsolicited agency or search firm referral.
Required Experience:
Unclear Seniority
Employment Type
Full-Time
Key Skills
Report This Job
Disclaimer: Drjobpro.com is only a platform that connects job seekers and employers. Applicants are advised to conduct their own independent research into the credentials of the prospective employer.We always make certain that our clients do not endorse any request for money payments, thus we advise against sharing any personal or bank-related information with any third party. If you suspect fraud or malpractice, please contact us via contact us page.
