What are the responsibilities and job description for the Loss Mitigation Specialist position at Agility 360?
Loss Mitigation Specialist (Underwriter)
Agility 360 is searching for an experienced Loss Mitigation Specialist for a contract role. The LMS will be Responsible for managing a portfolio of current to severely delinquent accounts where a borrower has requested loss mitigation assistance. Analyzes and understands credit bureau reports, tax returns, financial statements, pay stubs, bank statements, and other supporting documentation to verify borrower(s) financial situation and determines the best foreclosure alternative.
In addition, identifies the best foreclosure alternative solution by following FHA, VA, USDA, FNMA, FHLMC waterfall guidelines and arranging Repayments plans, Loan Modifications, Pre-Foreclosure Sales, and Mortgage Release. Demonstrates full understanding of all FHA, VA, USDA, FNMA, FHLMC loss mitigation retention and disposition guidelines to effectively mitigate loss for investor and company. Demonstrates a strong understanding of all FHA, VA, USDA, FNMA, FHLMC income & expense calculation guidelines and requirements.
Job Responsibilities:
Agility 360 is searching for an experienced Loss Mitigation Specialist for a contract role. The LMS will be Responsible for managing a portfolio of current to severely delinquent accounts where a borrower has requested loss mitigation assistance. Analyzes and understands credit bureau reports, tax returns, financial statements, pay stubs, bank statements, and other supporting documentation to verify borrower(s) financial situation and determines the best foreclosure alternative.
In addition, identifies the best foreclosure alternative solution by following FHA, VA, USDA, FNMA, FHLMC waterfall guidelines and arranging Repayments plans, Loan Modifications, Pre-Foreclosure Sales, and Mortgage Release. Demonstrates full understanding of all FHA, VA, USDA, FNMA, FHLMC loss mitigation retention and disposition guidelines to effectively mitigate loss for investor and company. Demonstrates a strong understanding of all FHA, VA, USDA, FNMA, FHLMC income & expense calculation guidelines and requirements.
Job Responsibilities:
- Underwrites loans for loss mitigation in accordance with FHA, VA, USDA, FNMA, FHLMC guidelines and decisions all loss mitigation waterfall options for borrower(s) seeking workout assistance.
- Recommends loss mitigation actions on requests for proposed foreclosure alternatives within timeframes established by investor.
- Independently maintains a portfolio size of 100 loans by meeting all investor, departmental and company guidelines.
- Works directly with Borrower Advocate team on loss mitigation follow up's, approval, or denials.
- Demonstrates thorough understanding of credit risk and ability to review financial documents.
- Utilizes ability to read and interpret title searches and rectify outstanding judgements, liens, etc.
- Maintains quality control and production standards
- 3 years of Loss Mitigation Underwriting experience required.
- Experience working in MSP/Black Knight required.
- Bachelor's Degree preferred.
- Good verbal and written communication skills
- Ability to provide outstanding customer service in fast-paced environments
- Intermediate proficiency in MS Office applications i.e. Word and Excel
- Interpersonal skills necessary to establish and maintain effective working relationships with coworkers, other departments and investor agencies as required
- Pay range: Salary commensurate with experience
- Employment is contingent on passing a background check and drug screening
