Loss Mitigation Specialist

Job Description

Essex Mortgage is hiring for our Loss Mitigation Specialist position to assist our Servicing Department! We are looking to bring on a friendly, self-motivated, team player who seeks the opportunity to grow and learn.

Job Summary

Responsible for reviewing accounts for viable solutions to avoid Foreclosure and to assist borrowers retain the dream of homeownership. It is important to understand each borrower’s individual situation and make appropriate recommendations and decisions. Assist the borrower to avoid future default. The Specialist will be a subject matter expert with regards to industry loss mitigation techniques and regulations and adhere to agency/investor/guarantor guidelines.

Essential Duties

• Review applications for completeness and data integrity while updating the data in both the servicing system and proprietary systems where applicable.
• Ensure Loan quality standards are met.
• Work with internal and external partners to clear conditions in a timely manner
• Analyze and review documentation in file to verify accuracy of application and support underwriting decisions.
• Calculate income based on various types of income documents in the file, review and confirm assets in the file.
• Review and analyze preliminary title work, appraisals (when applicable), and review required Loss mitigation letters.
• Make loan decisions based on the overall repayment ability of the borrower and issue approval and denials based on review.
• Communicate decisions to parties involved and build relationships with both internal and external partners.
  
  

Education And Experience

• Two years’ underwriting experience preferred
• Knowledge of default loss mitigation servicing, specifically with FHA loans preferred
• Experience on a mortgage servicing platform is a plus
• Ability to work with vendors and other departments to obtain documentation when needed
• Ability to multitask and effectively manage time
• Ability to communicate effectively – both in verbal and written form
• Desire to take personal responsibility to complete tasks and solve problems
• High school diploma or its equivalent
• Excellent organizational skills and strong work ethic
• Ability to remain professional even under strenuous situations
• Be able to empathize with a customer and take ownership of an issue
  
  

What You’ll Need To Be Successful

• Communication – your strong communication skills allow you to effectively assist other staff and follow up with customer inquires
• Accuracy and Thoroughness – you don’t miss the little things! You have a strong attention to detail and meet productivity standards
• Dependability – we can count on you to exercise personal and professional responsibility and work with limited direction when needed
• Initiative – you undertake self-development activities and seek increased responsibilities, asking for and offering help when needed
• Productivity – you have a proven ability to produce results in a fast-paced environment
• Planning and Organizing – you’re able to prioritize, organize and manage your time effectively
• Service – you promptly respond to requests for service and meet commitments made to customers and other employees
• Judgment and Discretion – you maintain confidentiality of sensitive information and exhibit sound and accurate judgement when making decisions
• Collaboration – you work well with other departments and individuals, maintaining communication needed to keep the workflow going.
  
  

Computer And Equipment Skills

• Intermediate in Microsoft Office programs (Word, Excel, PowerPoint)
• Word processing (speed and accuracy)
• Email
• Internet software
• Use typical office equipment (computers, fax, phones, copiers, scanners, projectors, etc.)
  
  

REASONING And MENTAL ABILITIES

• Uses critical thinking skills to interpret instructions furnished in written, oral, diagram, or schedule form and analytical reasoning to identify patterns in servicing
  
  

Physical Abilities

• Vision (with or without correction) sufficient to read a computer screen at 20 inches and to operate office equipment or a car
• Clear speaking on the telephone and in person; hearing within normal ranges in noise environments typical of office
• Able to sit for long periods of time at computer or other work station and in meetings
• Able to finger and feel in order to use equipment, computers and operate equipment
• Able to lift 10 pounds occasionally unassisted
  
  

Essex Mortgage is an Equal Opportunity employer. All qualified applicants will receive consideration for employment without attention to race, color, religion, sexual orientation, gender identity, national origin, veteran status, disability or any other characteristic protected by law.

Job Type: Full-time

Salary: $21.00 - $26.00 per hour