Loss Mitigation Underwriter II

Primary 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 and expenses, as well as property value and variance between appraised properties and offers submitted by potential buyers.
• Serve as liaison to various investors, including Fannie Mae, Freddie Mac and 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, sources of debt, and general customer financial documents to determine the most suitable repayment option.
• Calculate loan modification terms in adherence with investor and insurer guidelines, M&T policies, and applicable state and federal law and regulations.
• Communicate with Single Point of Contact, title team, and Loss Mitigation Closing team to gather information and resolve escalated accounts.
• Review, compile, and analyze documents (e.g., appraisals, title, arm’s length addenda, HUD 90051) to approve or deny a short sale settlement.
• Communicate with customers, real estate agents, and attorneys to negotiate short sale settlement offers and advise on loss mitigation decisions.
• Prepare workout summaries for management approval and maintain notes for management and audit review purposes.
• 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).
• Maintain compliance with applicable compliance/operational risk controls in accordance with Company or regulatory standards and policies.
• Maintain M&T internal control standards, including timely implementation of internal and external audit points together with any issues raised by external regulators as applicable.
• Promote an environment that supports belonging and reflects the M&T Bank brand.
• Complete other related duties as assigned.

Scope of Responsibilities

Manages and monitors an account portfolio of 70 loans.

Education and Experience Required

• A combined 4 years’ higher education and/or experience, including a minimum of 2 years’ collections or underwriting experience.
• 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.

Education and Experience 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).