Loss Mitigation Underwriter I-4

About the role

This position is responsible for submitting loan modification workups for the entire waterfall of investor workout options. The role also involves preparing loans for foreclosure mediation hearings, working with various investors, and cross-training with other areas of loss mitigation.

Manages and monitors an account portfolio of approximately 70 loans.

Responsibilities

• Understand investor waterfalls and required documents for loss mitigation.
• Manage and monitor account portfolio to ensure compliance with banking policies, investor guidelines, and applicable regulations.
• Assess income, expenses, property value, and variance between appraised properties and offers submitted by potential buyers.
• Serve as liaison to various investors (e.g., Fannie Mae, Freddie Mac, M&T Bank) to gain approval for settlements and provide necessary documentation.
• Review workout packages, including hardship letters, tax returns, income statements, pay stubs, credit reports, and customer financial documents to determine suitable repayment options.
• Calculate loan modification terms in adherence with investor, insurer, M&T policies, and applicable state and federal laws.
• Communicate with Single Point of Contact, title team, and Loss Mitigation Closing team to resolve escalated accounts.
• Review, compile, and analyze documents (e.g., appraisals, title, arm’s length addenda, HUD 90051) to approve or deny short sale settlements.
• Negotiate short sale settlement offers and advise customers, real estate agents, and attorneys of loss mitigation decisions.
• Prepare workout summaries for management approval and maintain notes for audit review.
• Prepare loans for foreclosure mediation hearings and identify solutions to resolve clouded title.
• Complete special ad hoc projects as requested by management (e.g., due diligence loan reviews).
• Adhere to compliance and operational risk controls in accordance with company or regulatory standards.
• Maintain M&T internal control standards, including timely implementation of audit points and regulatory issues.
• Promote an environment that supports belonging and reflects the M&T Bank brand.
• Complete other related duties as assigned.

Requirements

• A combined 4 years of higher education and/or experience, including a minimum of 2 years in collections or underwriting.
• Ability to communicate effectively and professionally over the phone.
• Excellent communication and customer service skills.
• Proficiency with word processing and spreadsheet software.
• Knowledge and understanding of land title.

Qualifications (Preferred)

• Bachelor’s degree.
• Paralegal certification or experience.
• Mortgage collections experience.
• Knowledge of M&T systems.

Pay

The pay range for this position is $22.61 - $37.67 hourly (USD). The successful candidate’s compensation will be informed by their specific combination of knowledge, skills, and experience.

Location

Getzville, New York, United States of America