Loss Mitigation – Liquidation Specialist

Loss Mitigation – Liquidation Specialist

Requirements

• High school diploma or equivalent, required.
• Bachelor’s degree, preferred.
• 5+ years’ Loss Mitigation, Collections, or related Mortgage Servicing experience.
• 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.

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 with specialized focus for short sale and Deed-in-lieu (DIL) workouts.
• 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.
• 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.
• Approves Loss Mitigation deals and provides feedback to more junior team members for their continued improvement.
• May assist with training new Loss Mitigation Specialists.
• Performs related duties as assigned by management.

Preferred Qualifications

• Collections, Foreclosure, Bankruptcy and Real Estate Owned (REO) experience preferred.