Underwriter - Loss Mitigation, REMOTE

Job Description

Reviews and evaluates policy applications, renewals, re-pricings, restrictions, and cancellations to determine risk acceptability and coverage.

Reviews loss mitigation package documentation to determine if the homeowner qualifies for a loss mitigation option. Reports information to the investor, client, and insurer.

Calculates income, expenses, and escrow advances in accordance with departmental and investor/insurer/client guidelines.

Orders and reviews title searches and BPO/AVM/appraisals as applicable.

Reviews and implements according to investor/client/insurer guidelines for loan modifications, forbearances and repayment terms, short sales, and deeds in lieu.

For short sales, reviews marketing strategies, listing history, offer activity. Resolves counter offers in accordance with departmental procedures and investor/insurer/client guideline.

Sets up and follows up on foreclosure holds as necessary.

Sends loss mitigation requests to investor/client/MI for approval as required.

Declines files as directed in accordance with departmental procedures as set forth by investor/client/investor/insurer guidelines and sends appropriate denial letter if homeowner does not qualify for a workout option.

Prepares and sends trial period documents, forbearance plan documents, repayment plan agreements, short sale approval and closing letters and decline letters as needed.

Maintains a caseload of files as established by the department.

Follows functional area’s processes and procedures in daily activities, troubleshoots as needed and recommends suggestions for continuous improvements to overall operations.

Actively contributes to the results of a team and works toward achieving goals and objectives.

Essential Functions

• Reviews and evaluates policy applications, renewals, re-pricings, restrictions, and cancellations to determine risk acceptability and coverage.
• Reviews loss mitigation package documentation to determine if the homeowner qualifies for a loss mitigation option. Reports information to the investor, client, and insurer.
• Calculates income, expenses, and escrow advances in accordance with departmental and investor/insurer/client guidelines.
• Orders and reviews title searches and BPO/AVM/appraisals as applicable.
• Reviews and implements according to investor/client/insurer guidelines for loan modifications, forbearances and repayment terms, short sales, and deeds in lieu.
• For short sales, reviews marketing strategies, listing history, offer activity. Resolves counter offers in accordance with departmental procedures and investor/insurer/client guideline.
• Sets up and follows up on foreclosure holds as necessary.
• Sends loss mitigation requests to investor/client/MI for approval as required.
• Declines files as directed in accordance with departmental procedures as set forth by investor/client/investor/insurer guidelines and sends appropriate denial letter if homeowner does not qualify for a workout option.
• Prepares and sends trial period documents, forbearance plan documents, repayment plan agreements, short sale approval and closing letters and decline letters as needed.
• Maintains a caseload of files as established by the department.
• Follows functional area’s processes and procedures in daily activities, troubleshoots as needed and recommends suggestions for continuous improvements to overall operations.
• Actively contributes to the results of a team and works toward achieving goals and objectives.

Job Complexities & Impact

• Uses established procedures to perform assigned tasks.
• Instructions may be detailed for new assignments.
• Supervision Received or Extended: No.
• Responsibility for the supervision of others: No.
• Works under supervision applying established techniques, procedures or specific standards: Yes.
• Work may be reviewed for soundness of judgment and overall accuracy: Yes.

Knowledge & Skills / Technology Used

• Working knowledge of fundamental concepts, practices and procedures of department/field.
• Knowledge of Black Knight MSP system preferred.
• Knowledge of Consumer Finance Protection Bureau (CFPB) and Fair Debt Collection Practices Act (FDCPA) guidelines preferred.
• Risk assessment skills.
• Organized and self-motivated with ability to meet strict deadlines.
• Persuasive and professional communication skills.
• Strong verbal and written communication skills.
• Demonstrated ability to provide attention to detail and concern for accuracy and consistency in results.
• Establishes effective working relationships at the work group level.

Typical Education & Experience

• High School diploma or equivalent.
• Some college preferred.
• 1-3 years of experience in Loss Mitigation or other mortgage banking, mortgage servicing or real estate related experience.
• 1-3 years of mortgage servicing Loss Mitigation Underwriting experience strongly preferred.

What We Offer

• Comprehensive benefits package including medical, dental, vision, 401k, PTO/paid sick leave and other great benefits like an employee stock purchase plan.
• EEO Employer.
• Inclusive workplace for all employees.