Fannie Mae Loss Mitigation Specialist

Function Description

The Fannie Mae Loss Mitigation Specialist is responsible for managing and mitigating losses on real estate properties owned by the financial institution. This role involves overseeing the foreclosure process, managing REO properties, and working with borrowers to find solutions that minimize financial loss while maintaining compliance with relevant regulations.

This role involves direct borrower engagement, document review, and coordination with internal and external teams to resolve delinquencies and avoid foreclosure.

Education

• High School diploma
• Minimum of 3 years of real estate collection experience and Fannie Mae loss mitigation underwriting experience, preferably with SMDU (Servicing Management Division Unit), portfolio foreclosure/loss mitigation or legal background experience, preferred.

Skills

• Familiarity with loan documents, Note, Deed of Trust, Credit Reports, Property Evaluations
• Fannie Mae SMDU, Comprehensive knowledge of Fannie Mae loss mitigation guidelines, servicing requirements, and borrower assistance programs
• Ability to manage multiple accounts and prioritize tasks effectively
• Ability to effectively present information and respond to questions from members, clients, and managers
• Strong analytical skills to assess borrower financial situations and determine appropriate actions
• Bilingual (English and Spanish) preferred but not required.

Core Values

• BE ETHICAL AND DEMONSTRATE INTEGRITY: Treat others with respect, dignity and” tough love.” It’s about character and influence, not about a title. Be honest and direct. Challenge ourselves and each other to reach our full potential.
• BE ACCOUNTABLE: Lead by example. You are the reflection of how you show up. Set realistic expectations. Make good business decisions. Meet commitments. Learn from mistakes.
• EMBRACE CHANGE: Develop the individual, improve the team, grow the institution. Encourage and reward creative solutions. Ask impactful organizational questions. Identify the problem to be solved and the desired outcome. Engage others. Believe in what’s possible.
• ACHIEVE SUCCESS TOGETHER: Strive for Flawless Execution. Not for the sake of numbers, but for a sense of pride in a job well done. Success favors the prepared. Consistently plan, coach and grow to master our roles. Celebrate our success. Act Nice Behaviors

Benefits

• Medical, Dental, Vision
• 401 (k) with company match
• Supplemental Life Insurance
• Paid Vacation
• Paid Sick Days
• Paid Holidays

Compensation

• Base Compensation
• Non-exempt branch roles may earn monthly bonuses for meeting production goals and quarterly bonuses for meeting team goals.
• Exempt branch roles may earn quarterly bonuses for production and team goals.
• Exempt non-branch management roles may be eligible for an annual managerial bonus.
• Non-branch non-management roles may be eligible for on-the-spot bonuses for extraordinary performance.