Loss Mitigation - Mediation Specialist

Who We Are

At Newrez, we bring big thinkers and caring doers together to make home happen. We’re a team built on heart and hustle, united by a commitment to show up for our customers, our communities, and each other. We believe that when our people thrive, homeowners thrive - and that’s why we invest in your growth, wellbeing, and ability to make an impact.

Every day, we work to exceed the expectations of our residential mortgage borrowers and business partners through superior service, simple processes, and clear communication. We do this by empowering our employees, encouraging innovative solutions and recognizing great performance.

POSITION SUMMARY

The Mediation Litigation SPOC (Single Point of Contact) role is responsible for establishing contact, communicating, and negotiating with borrowers, investors, and real estate agents, via verbal and written means, to resolve at-risk mortgages. In addition, the Mediation Litigation SPOC will review, counter, and approve loss mitigation deals within their delegated authority. For Mediation/Litigation, most communication occurs through attorneys with focus on achieving a solution that works for all parties involved.

DESCRIPTION

Duties and Responsibilities

- Handles multiple mortgage products that are 60+ days delinquent, as governed by investor, departmental and legal guidelines.
- Keeps servicing files up to date so borrowers can receive the best assistance, and so that the company has knowledge of the borrower’s situation and the condition of the collateral.
- Minimizes loss due to foreclosure through the use of loss mitigation options, such as pre-foreclosure sales, loan modifications and repayment plans.
- Arranges for contractual services relating to property inspections, appraisers, real estate agents, etc., who may be involved in the inspection or evaluation of the property.
- Reviews title searches to ensure that no title issues threaten the standing of our investor’s lien on the property.
- Makes calls to borrowers, borrowers’ authorized representatives, and brokers as appropriate.
- Analyzes financial statements, tax returns, credit reports, and the value of the collateral in order to determine and recommend the most feasible and appropriate workout to the customer.
- Accurately underwrites the borrower’s income, through the review of paystubs, tax documents, benefit statements, business profit and loss statements, etc.
- Addresses any borrower questions or concerns. Handles escalated files appropriately by providing an articulate and complete response.
- Contributes to the progress of the department by understanding the measurements used to define success and how they can positively impact those measurements.
- Certifies that all required actions have taken place prior to completing a foreclosure sale.
- Ensures compliance with company policies and procedures.
- Functions as a mentor to more junior Loss Mitigation Specialists.
- Reviews the work of more junior Loss Mitigation Specialists to ensure compliance with standards and industry best practices.
- May assist with training new Loss Mitigation Specialists.
- Performs related duties as assigned by management.

Qualifications and Education Requirements

- High school diploma or equivalent, required.
- Bachelor’s degree, preferred.
- 5+ years’ Loss Mitigation, Collections, or related mortgage servicing experience.

Skills, Abilities, and Knowledge

- Ability to obtain and maintain ongoing Mortgage Loan Originator License.
- Proficient in Microsoft Word and Excel.
- Excellence in consulting and advising customers via telephone and written communication.
- Understanding of debt collections in any stage of delinquency.
- Collections, Foreclosure, Bankruptcy and Real Estate Owned (REO) experience preferred.

Additional Information

Position responsibilities are governed by Federal SAFE Act qualification standards and/or state licensing, registration, or exemption requirements. As a result, the applicant is required to demonstrate financial responsibility, character, and general fitness to perform in the role and is subject to additional criminal record restrictions. Employees in this position are subject to on-going credit and background reviews to ensure continued compliance with position responsibilities.

Additional Information:

While this description is intended to be an accurate reflection of the position’s requirements, it in no way implies/states that these are the only job responsibilities. Management reserves the right to modify, add or remove duties and request other duties, as necessary.

All employees are required to have smart phones that meet Company security standards with the ability to install apps such as Microsoft Authenticator. Employment will be contingent on this requirement.

Why Newrez

We’re a great place to work because we invest in what matters: your career, your community, your wellbeing, and your future. Our total rewards package is designed to support your whole self.

Company Benefits :

We offer benefits, programs, and perks that support you in every aspect of your life.

- Medical, dental, and vision insurance
- Health Savings Account with employer contribution
- 401(k) Retirement plan with employer match
- Paid Maternity Leave/Parental Bonding Leave/Caregiver Leave
- Adoption Assistance
- Tuition & Certification reimbursement
- Employee Mortgage Loan Program
- The Newrez Employee Emergency and Disaster Fund is a program to support our team members experiencing hardships

Newrez NOW:

Through Newrez NOW, our Corporate Social Responsibility program, you’ll have opportunities to give back, lead, and make a difference.

- 1 company-paid Volunteer Time Off day (with over 40,000 volunteer hours contributed since our inception)
- Matching Gifts Program - dollar-for-dollar up to $1,000
- Access to grants, nonprofit resources, and volunteer opportunities
- More than $6,000,000 donated since 2020
- 1 in 5 employees participates in at least one Employee Resource Group (ERG)

Equal Employment Opportunity

We're proud to be an equal opportunity employer- and celebrate our employees' differences, including race, color, religion, sex, sexual orientation, gender identity, national origin, age, disability, and Veteran status. Different makes us better.

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