Loss Mitigation Underwriting Supervisor

Job Description

Job Summary:

The Loss Mitigation Underwriting Supervisor plays a critical role in ensuring our underwriting team provides accurate, compliant, and borrower-focused decisions in the loss mitigation process. In this role, you will lead a team responsible for assessing and structuring loss mitigation solutions using the WaterfallCalc decision engine. Through expert guidance and a dedication to excellence, you will drive team performance and uphold our pillars of Transparency, Leadership, High Performance, and Raving Fans, creating solutions that meet both regulatory standards and borrower needs.

Core Competencies:

• Maintains highest level of professional behavior at all times even in stressful situations. Avoids behaviors, comments, and conversations that harm morale, productivity, customer satisfaction and teamwork.
• Meets confidentiality requirements related to company, customer and financial information.
• Communicates in writing, verbally and via email in a clear and positive way. Meets policy requirements governing communication content.
• Meets high-productivity requirements and constantly evaluates and prioritizes work throughout the day to meet frequent deadlines.
• Takes ownership of work and completes tasks projects accurately. Reviews and proofreads work thoroughly.
• Works well in a fast-paced team environment and communicates regularly with other team members to ensure deadlines are met.
• Remains up to date on best practices relevant to the position and uses work hours productively.

Supervisor Responsibilities (if applicable):

• Leadership and Development: Guide and mentor a team of processors and underwriters, fostering a culture of precision, accountability, and borrower advocacy. Provide consistent coaching and development opportunities to strengthen team expertise in loss mitigation underwriting.
• Performance and Quality Management: Establish performance standards that align with compliance requirements and business objectives. Conduct regular audits and performance reviews to ensure accuracy, quality, and timely delivery of underwriting decisions.
• Training on WaterfallCalc: Ensure team members are proficient in using the WaterfallCalc engine, providing training and troubleshooting support as necessary. Maintain knowledge of updates or changes to WaterfallCalc, ensuring its effective use to maximize borrower support solutions.
• Cross-Functional Collaboration: Coordinate with the SPOC team, Compliance, and Customer Service to ensure a streamlined borrower experience. Address complex or escalated cases with a solutions-oriented approach that balances borrower interests and business goals.

Duties:

• Loss Mitigation Underwriting Oversight: Oversee the underwriting process for loss mitigation cases, including loan modifications, repayment plans, and other borrower support solutions. Ensure that all underwriting decisions are accurate, compliant, and in alignment with both regulatory standards and company policies.
• Utilization of WaterfallCalc: Lead the team in leveraging the WaterfallCalc engine to analyze borrower financials, structure appropriate solutions, and optimize outcomes. Stay current with all features of WaterfallCalc to improve decision-making accuracy and streamline processing.
• Compliance and Documentation: Ensure that all underwriting processes and decisions meet regulatory requirements and are thoroughly documented. Guide the team in maintaining detailed and accurate records to support internal audits and regulatory reviews.
• Continuous Improvement: Identify and implement process improvements within the underwriting team to enhance efficiency, reduce processing times, and improve the overall borrower experience. Encourage feedback and innovation, fostering a culture of continuous growth.
• Advanced Problem Solving: Address escalated or complex cases by offering strategic and compliant solutions, supporting both borrowers and business objectives. Work closely with the SPOC Supervisor and other stakeholders to achieve positive, borrower-centered resolutions.
• Reporting and Insights: Regularly review and analyze underwriting data, providing insights to leadership on team performance, borrower trends, and opportunities for process enhancement.

Education and Experience

Education:

• Bachelor’s degree in Business, Finance, or a related field is preferred, or an equivalent combination of education and experience.
• Certifications in Mortgage Underwriting, Loss Mitigation, or related fields are a plus.

Experience:

• Minimum of 5 years of experience in loss mitigation underwriting or mortgage underwriting, with 2 years in a supervisory role.
• Proficiency in using underwriting tools and systems, particularly the WaterfallCalc engine, with experience in configuring and optimizing underwriting solutions.
• Strong knowledge of regulatory requirements and industry best practices in loss mitigation, demonstrating a commitment to compliance and borrower advocacy.
• Exceptional analytical and decision-making skills, with the ability to manage complex borrower scenarios and find solutions that support both borrower needs and business integrity.
• Excellent communication and collaboration skills, with a track record of building productive relationships across teams and departments.

Computer and Equipment Skills

• Intermediate in Microsoft Office programs (Word, Excel, PowerPoint)
• Word processing (speed and accuracy)
• MSP or FICS’ Mortgage Servicer a plus
• Email
• Internet software
• Use typical office equipment (computers, fax, phones, copiers, scanners, projectors, etc.)

Physical Requirement:

• Vision (with or without correction) sufficient to read a computer screen and to operate office equipment
• Clear speaking voice on the telephone, in person, and recorded
• 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 use computers and operate equipment
• Able to lift 10 pounds occasionally unassisted

EEO Statement: As part of our dedication to the diversity of our workforce, Essex Mortgage is committed to a policy of Equal Employment Opportunity and will not discriminate against an applicant or employee on the basis of race, color, religion, national origin or ancestry, sex, gender, gender identity, gender expression, sexual orientation, age, physical or mental disability, medical condition, marital/domestic partner status, military and veteran status, genetic information or any other legally recognized protected basis under federal, state or local laws, regulations or ordinances.