Loss Mitigation Single Point of Contact (SPOC) – Non-QM

Summary/Objective

The Loss Mitigation Single Point of Contact (SPOC) is the borrower's dedicated contact and the accountable owner for an assigned portfolio of delinquent Non-QM residential mortgage loans from 60 days past due through workout or liquidation. The SPOC is expected to maintain active communication with the borrower, obtain the information needed to evaluate the file, and identify eligible options such as a repayment plan, forbearance, modification, deferment, extension, short sale, deed in lieu, or settlement, while ensuring compliance with investor and mortgage holder guidelines and program-specific regulations. The portfolio spans bank statement and alternative documentation loans, asset depletion, ITIN, foreign national, investor, and other expanded-credit non-agency products. It is expected that the SPOC maintain accurate account data, meet all compliance requirements of the position and industry, close transactions in a timely manner, drive foreclosure and bankruptcy files against investor and state timelines, and facilitate a smooth transition to newly agreed terms.

Essential Functions

• Serve as the borrower's single point of contact consistent with Regulation X continuity of contact requirements
• Manage an assigned portfolio of delinquent Non-QM loans from 60 days past due through reinstatement, modification, payoff, or liquidation
• Initiate contact with borrowers who have defaulted on their mortgages through phone calls, written solicitations, and use of a predictive dialer, and establish right party contact
• Obtain information sufficient to review loss mitigation options and to make proper recommendations
• Evaluate the borrower's reason for default, hardship documentation, income, and ability to repay
• Take loss mitigation applications through intake, acknowledgment, document follow-up, evaluation, decisioning, and appeal within regulatory, investor, and client timelines
• Recommend, negotiate, and close repayment plans, forbearance agreements, modifications, deferments, extensions, short sales, deeds in lieu, and settlement options
• Prepare workout recommendations supported by NPV and loss severity analysis for client and investor approval within delegated authority
• Protect against dual tracking and manage referral, sale, and eviction holds across foreclosure, mediation, bankruptcy, and REO
• Monitor property preservation, valuations, escrow, taxes, hazard insurance and loss drafts, HOA dues, and senior liens
• Handle escalated matters, including regulatory and executive complaints and borrower attorney inquiries
• Maintain accurate account data and audit-ready documentation of every contact, commitment, and decision in the system of record
• Be logged into the data system and available to take inbound calls and rollover calls from Customer Care
• Initiate and monitor research on accounts as required
• Responsible for meeting legal requirements and internal policies, including Regulation X and Z, FDCPA and Regulation F, TCPA, SCRA, ECOA, UDAAP, and state loss mitigation and foreclosure requirements
• Focus on client relationships

Competencies/Skills

• Borrower/Client Focus
• Problem Solving/Analysis
• Ability to negotiate and resolve conflict
• Compliance and detail orientation
• Time Management
• Clear and concise communication; professional business communication
• De-escalation and sound judgment in sensitive hardship conversations
• Teamwork orientated, with the ability to work independently
• Ability to multi-task in fast paced environment
• Strong organizational skills
• Able to use discretion when dealing with confidential material
• Resourceful and highly motivated

Work Environment

This job operates in a professional office environment. This role routinely uses standard office equipment such as computers, phones, photocopiers, and fax machines. Ability to sit for long periods of time is essential.

Position Type and Expected Hours of Work

This is a full-time position. Days and hours of work are Monday through Friday, 8:00 a.m. to 5:00 p.m.; one late night, 9:00 a.m. to 6:00 p.m.; one mandatory Saturday each month 8:00 a.m. -12:00 p.m.

Education and Experience

• 6 to 10 years of default servicing experience, combining hands-on collections with heavy loss mitigation and workout responsibility
• Non-QM or non-agency residential loss mitigation experience strongly preferred, including bank statement, asset depletion, ITIN, foreign national, and investor products
• Working knowledge of the Regulation X mortgage servicing rules, including early intervention, continuity of contact, and loss mitigation procedures
• Working knowledge of foreclosure, mediation, bankruptcy, and REO across judicial and non-judicial states
• Prior experience in debt collection required
• Knowledge of Microsoft Office, specifically Excel, Word, & Outlook
• Bachelor's degree in finance, business, real estate, or a related field, or equivalent experience

Benefits

• Competitive compensation and full benefits package include medical, dental, and vision
• 100% company-paid life insurance and disability coverage
• 401K with company matching
• 17 days PTO (increases with tenure) and 9 company paid holidays
• Professional but fun, casual work environment and great team culture

About BSI Financial

Founded in 1986, we provide financial services that support our vision of enabling sustainable home ownership by practicing core values that embody doing what is right; emphasizing problem solving; delivering on expectations and winning with humility. Our clients include lenders and investors who make home financing possible. BSI Financial was ranked multiple times in the SMU Dallas 100 list of the fastest growing companies in North Texas and was twice named to the Inc. 5000 list of the fastest growing U.S. companies.