Loss Mitigation - Mediation Litigation

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.

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 using 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.

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 Okta Verify and Microsoft Authenticator. Employment will be contingent on this requirement.

By applying to this position candidate acknowledges that this is not a remote role and is required to be on-site.