Specialist II, Loss Mitigation, South Bend, IN

POSITION SUMMARY
Responsible for all aspects of Mortgage Servicing Loss Mitigation.

ESSENTIAL REQUIREMENTS

- The Loss Mitigation Specialist II is responsible for managing delinquent mortgage accounts and assisting borrowers experiencing financial hardship by evaluating, recommending, and implementing home retention and liquidation loss mitigation solutions in accordance with investor, insurer, regulatory, and company guidelines.

- This position administers loss mitigation home retention options, foreclosure alternatives, and default servicing activities while ensuring compliance with FHA, VA, USDA, Fannie Mae, Freddie Mac, Habitat, CHC, and other applicable servicing requirements.

- The Specialist works closely with borrowers to maximize foreclosure prevention opportunities and ensure timely resolution of delinquent mortgage loans.

- Make and receive inbound and outbound calls with borrowers regarding mortgage delinquency, financial hardship, and available loss mitigation options.

- Educate borrowers on loss mitigation programs and application requirements while providing exceptional customer service.

- Conduct borrower interviews to assess financial situations and gather documentation needed to determine eligibility for workout options.

- Follow up with borrowers to obtain missing documentation, communicate application status, and discuss approved workout solutions.

- Maintain accurate and detailed servicing notes documenting all borrower interactions and account activity.

- Prepares and delivers borrower communications related to delinquency, breach letters, loss mitigation acknowledgments, incomplete application notices, decision letters, foreclosure referrals, and other default servicing activities.

- Evaluates borrower eligibility and prepares, processes, and submits home retention loss mitigation options through investor, insurer, and government agency systems, including repayment plans, forbearance agreements, payment deferrals, partial claims, loan modifications, Flex Modifications, FHA Recovery Modifications, and other available retention solutions in accordance with investor, regulatory, and company guidelines.

- Evaluates and administers liquidation solutions, including pre-foreclosure sales and deeds-in-lieu of foreclosure, as alternatives to foreclosure.

- Coordinates directly with borrowers, attorneys, investors, and other parties to manage the deed-in-lieu process from approval through completion, ensuring compliance with investor, insurer, regulatory, and company requirements.

- Responsible for daily, monthly, and investor reporting related to mortgage delinquency, loss mitigation, foreclosure, and bankruptcy activities, ensuring accuracy, timeliness, and compliance with investor, insurer, regulatory, and company requirements.

- Maintains, updates, and implements loss mitigation procedures and workflows in accordance with investor, insurer, regulatory, and company guidelines.

- Serves as a resource for mortgage servicing and loss mitigation matters by sharing knowledge, providing guidance, and promoting consistency in servicing practices and regulatory compliance.

- Demonstrates strong organizational, analytical, communication, and problem-solving skills while managing multiple priorities in a highly regulated mortgage servicing environment.

NON-ESSENTIAL FUNCTIONS

- Performs all other duties as assigned.

EXPERIENCE/SKILLS

- One (1) - three (3) or more years of mortgage servicing loss mitigation experience preferred.

- Good verbal and written communication skills.

- Good PC skills--proficiency with Microsoft products Excel is essential.

- Good organizational and time management skills.

- Ability to multi-task in a fast-paced environment.

EDUCATION

- One (1) - three (3) years college preferred.

TRAVEL REQUIREMENTS

- Minimal or occasional travel as needed for meetings, projects, training, etc.

PHYSICAL DEMANDS
The physical demands described here are representative of those that must be met by an employee to successfully perform the essential functions of this job. Reasonable accommodations may be made to enable individuals to perform the essential functions.

While performing the duties of this job, the employee is required to sit, stand, and walk; use hands and fingers to operate keyboard and other office equipment; reach with hands and arms; and talk or hear. The employee is occasionally required to stoop or kneel. The employee may occasionally lift and/or move up to 10 pounds.

EQUIPMENT
MS Office PC, fax, phone, and standard office equipment.