What are the responsibilities and job description for the Loss Mitigation Associate position at University Bank?
Description
General Job Summary
The Loss Mitigation Associate is responsible for minimizing foreclosures which includes but is not limited to debt counseling. Ensure loss mitigation financial packages are reviewed timely and properly while complying with investor and insurer regulations. Help as many customers as possible to avoid foreclosure under strict and constantly changing regulatory requirements. Process workouts, reporting to investors and comply with guidelines and regulations as applicable.
Summary of Essential Job Functions
- Review financial packages for completeness.
- Process workouts and monitor workouts based on GSE, FHA, USDA, VA, FHLB and GNMA guidelines.
- Ensure all federal, state and investor guidelines and requirements are adhered to for underwriting review and decision.
- Monitor & respond to departmental email.
- Communicate with customers, credit unions, insurers, and secondary market investors to strategize workout programs.
- Report workouts to investors, Treasury, and investor vendors.
- Counsel delinquent customers and attend via phone periodic mitigation meetings with attorneys.
- Work with other departments to ensure appropriate changes to the system, payments are applied correctly, and foreclosures are placed on hold or cancelled as appropriate.
- Work with State Assistance and Hardest Hit Programs
- Maintain ICE’s MSP and LoanSphere with appropriate codes and comments.
- Complete updates in FHA Connection, SMDU, FHLMC Resolve, USDA-LINC, VA Valeri, FHLB eMAQCS.
- Maintain accuracy in payments posted to loans in loss mitigation process.
Other Job Functions
- Attend all training sessions for department
- Update and review announcements and changes to workout programs
- All other duties as assigned by management
Working Environment
Primary working environment is within an indoor climate-controlled office space. Employee may be subject to florescent lighting, dust, and other normal indoor-allergens. Employee will work in close proximity of coworkers and occasionally independently in quiet environments.
Requirements
Education, Training and Work Experience
- High school diploma (or equivalent) required.
- Previous experience in mortgage loan servicing and loss mitigation required.
- Previous experience in ICE’s MSP and LoanSphere required.
Knowledge, Skills and Abilities
- Maintain & foster positive relationships with customers and business partners
- Complete all assigned training in a timely manner
- Provide professional communication in both oral & written expression
- Excellent organizational, time management & analytical skills
- Organizational skills with ability to prioritize and meet deadlines while maintaining high degree of accuracy
- Ability to manage confidential information
- Strong analytical skills, with the ability to seek out and offer business oriented solutions
- High degree of dependability
Physical Requirements
- Able to lift up to 20 pounds
- Extended periods of sitting (at computer desk)
- Complete repetitive tasks (including operation of computer mouse/keyboard)
Disclaimer
The above statements are intended to describe the general nature and level of work being performed by people assigned to this classification. They are not to be construed as an exhaustive list of all responsibilities, duties, and skills required of personnel so classified. All personnel may be required to perform duties outside of their normal responsibilities from time to time, as needed.
**University Bank is an Equal Opportunity / Affirmative Action Employer**