Basic Function:
Review and analyze distressed loans, restructuring the loan or assisting in the selling of property to reduce expected losses by foreclosure.
Responsibilities:
- Manage an assignment of defaulted loans to include outbound and inbound calls, skip tracing, file reviews and all other means necessary to establish contact with the customers to discuss loss mitigation opportunities
- Perform all steps per department policies and procedures as they relate to repayment plans, short sales, loan restructures, deeds in lieu of foreclosure and total charge-offs
- Prepare and present written summaries of loss mitigation workout proposals to department manager for approval
- Negotiate successful counter-proposals on loss mitigation workout proposals submitted
- Able to handle discussions related to loss mitigation workout proposals with realtors, attorneys, title companies and workout companies
- Provide reporting to department manager as directed
Basic Qualifications:
- Minimum of 3-5 years loss mitigation or mortgage loan workout experience
- Proven organizational skills
- Strong interpersonal skills
- Demonstrated default negotiation skills
- Excellent written and verbal communication skills
Ideal Qualifications:
- Experience with high risk mortgage portfolio preferred
- Experience with Fidelity Mortgage Servicing System preferred