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- Alexandria, VA
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Senior Analyst, Loss Mitigation
Pentagon Federal Credit Union • Alexandria, VA
Posted 12 days ago
Senior Analyst, Loss Mitigation
PenFed Credit Union is hiring a Senior Analyst, Loss Mitigation in Alexandria, Virginia. The primary purpose of this job is to perform reviews of hardship requests for real estate and consumer products. This position will verify and underwrite each product according to PenFed, investor and VA guidelines; following regulatory and internal timing requirements.
Reasonable accommodations may be made to enable individuals with disabilities to perform the essential functions. This is not intended to be an all-inclusive list of job duties and the position will perform other duties as assigned.
- Review loss mitigation package documentation for real estate and consumer loans.
- Maintain a high level of member experience and excellent communications with all internal and external business partners.
- Verify and underwrite each product according to PenFed, Fannie Mae, Freddie Mac, VA or other investor underwriting guidelines and ensure all requirements have been met.
- Analyze financial information to determine the most effective loss mitigation option within established timing requirements and review value assessments for accuracy.
- Obtain necessary documents required for loss mitigation review and promptly respond to member’s questions and inbound calls.
- Calculate income, expenses and escrow advances (if applicable) in accordance with departmental and investor/insurer guidelines.
- Understand and communicate with borrowers on specific financial information, including discussing debt to income, and personal financial statements.
- Complete steps within the decision process workflow within assigned timelines to insure maximum member experience.
- Implement loss mitigation options, prepare, process and send appropriate notifications.
- Responsible for and follows up to insure that all paperwork is received or has been completed as required, pertinent documents are signed and recorded when required.
- Submit request for approval to investor, insurer, and MI companies; communicate with mortgage investor on specific loss mitigation options.
- Document all loss mitigation actions taken, such as telephone conversations, letters mailed, and other similar activities, within PenFed’s designated software platform(s) and production report.
- Actively oversee and process loan modifications, forbearance agreements and other loss mitigation retention and liquidation options to ensure timely processing of documents and trial payments.
- Validate system completion to ensure adherence to all policies and ensure loss mitigation tasks have been processed and completed in all systems once completed by ASB, Credit Cards, Loan Processing, Equity or Mortgage Departments.
- Provide timely updates through multiple reports that are critical for strategic decisions and reporting requirements.
- Assist with the implementation of real estate underwriting guidelines and training.
- Maintain working knowledge of internal policies, procedures and external regulations, which affect Loss Mitigation
Education and Experience
Equivalent combination of education and experience is considered.
- Bachelor’s Degree in business, accounting, finance, or other related field is preferred.
- Minimum of five (5) years’ experience in Loss Mitigation is preferred.
- Maintain a current knowledge of federal and state regulations concerning real estate related lending.
- Member service orientation (Collections and/or Origination's preferred) with ability to demonstrate empathy towards members.
- Excellent time management and organization skills.
- Strong decision-making skills.
- Strong written and verbal communication skills.
- Able to develop wider business knowledge of all other functions within the department.
- Understanding of appropriate escalation timing and reasons.
- Ability to perform in a production environment and meet monthly goals.
This position will not supervise employees.
Licenses and Certifications
- National Mortgage Origination License (SAFE/NMLS) is required.
- Require the incumbent to obtain Lending Authority within 120-days.
While performing the duties of this job, the employee is regularly exposed to an indoor office setting with moderate noise.
*Most roles require working in an office setting with moderate noise and the ability to lift 25 pounds.*
Ability to travel to various worksites and be on-call is required.
Established in 1935, PenFed today is one of the country’s strongest and most stable financial institutions with over 1.6 million members and over $23 billion in assets. We serve members in all 50 states and the District of Columbia, as well as in Guam, Puerto Rico, Okinawa, and Portugal. We are federally insured by NCUA and we are an Equal Housing Lender. We are available to members worldwide, via the web, seven days a week, twenty-four hours a day.
Our mission isn’t simply to help our members get by. We exist to help them realize every ounce of their potential. We exist to educate, and to encourage. We exist to usher their dreams into the land of reality.
We provide our employees with a lucrative benefits package including robust medical, dental and vision plan options, plenty of paid time off, 401k with employer match, on-site fitness facilities at our larger locations, and more.
Equal Employment Opportunity
PenFed management will maintain and observe personnel policies which will not discriminate or permit harassment or retaliation against a person because of race, color, creed, age, sex, gender, gender identity, gender expression, religion, national origin, ancestry, marital status, military or veteran status or obligation, the presence of a physical and/or mental disability or medical condition, genetic information, sexual orientation, and all statuses protected by applicable state or local law in all recruiting, hiring, training, compensation, overtime, position classifications, work assignments, facilities, promotions, transfers, employee treatment, and in all other terms and conditions of employment. PenFed will also prohibit retaliation against individuals for raising a complaint of discrimination or harassment or participating in an investigation of same.
PenFed will also reasonably accommodate qualified individuals with a disability so that they can apply for a job or perform the essential functions of a job unless doing so causes a direct threat to these individuals or others in the workplace and the threat cannot be eliminated by reasonable accommodation or if the accommodation creates an undue hardship to PenFed. Contact human resources (HR) with any questions or requests for accommodation at 571-289-4710.