Loan Workout Associate - Mortgage at University Bank

Hancock, Michigan, United States -

Full Time

Start Date

Immediate

Expiry Date

18 Aug, 26

Salary

0.0

Posted On

20 May, 26

Experience

2 year(s) or above

Remote Job

Yes

Telecommute

Yes

Sponsor Visa

Skills

Mortgage Loss Mitigation, Default Servicing, Regulatory Compliance, Loan Servicing Systems, Financial Package Review, Debt Counseling, Underwriting Review, Foreclosure Prevention, MSP, LMS, Analytical Skills, Time Management, Communication Skills, Organizational Skills, Attention to Detail, Relationship Management

Industry

Banking

Description

Description General Job Summary The Loss Mitigation Associate is responsible for minimizing foreclosures which includes but is not limited to debt counseling. Ensure loss mitigation financial packages are reviewed timely and properly while complying with investor and insurer regulations. Help as many customers as possible to avoid foreclosure under strict and constantly changing regulatory requirements. Process workouts, reporting to investors and comply with guidelines and regulations as applicable. Summary of Essential Job Functions Review financial packages for completeness. Process workouts and monitor workouts based on GSE, FHA, USDA, VA, FHLB, GNMA and private clients guidelines. Ensure all federal, state and investor guidelines and requirements are adhered to for underwriting review and decision. Monitor & respond to departmental email. Communicate with customers, credit unions, insurers, and secondary market investors to strategize workout programs. Report workouts to investors, Treasury, and investor vendors Counsel delinquent customers and attend via phone periodic mitigation meetings with attorneys. Work with other departments to ensure appropriate changes to the system, payments are applied correctly, and foreclosures are placed on hold or cancelled as appropriate. Work with State Assistance and Hardest Hit Programs Maintain ICE’s MSP and LoanSphere with appropriate codes and comments. Complete updates in FHA Connection, SMDU, FHLMC Resolve, USDA-LINC, VA Valeri, FHLB eMAQCS. Maintain accuracy in payments posted to loans in loss mitigation process. Other Job Functions Attend all training sessions for department. Update and review announcements and changes to workout programs All other duties as assigned by management Requirements Education, Training and Work Experience High school diploma (or equivalent) required Minimum 2 years of experience in mortgage loss mitigation and related default servicing Familiarity with GSE, FHA, USDA, VA, FHLB and GNMA loss mitigation guidelines Strong understanding of foreclosure prevention options and regulatory compliance Proficiency in loan servicing systems MSP and LMS (ICE) Strong attention to details and organizational skills Effective verbal and written communication abilities Knowledge, Skills and Abilities Maintain & foster positive relationships with customers and business partners. Complete all assigned training in a timely manner. Provide professional communication in both oral & written expression. Excellent organizational, time management & analytical skills Organizational skills with ability to prioritize and meet deadlines while maintaining high degree of accuracy. Ability to manage confidential information. Strong analytical skills, with the ability to seek out and offer business-oriented solutions. High degree of dependability Working Environment Primary working environment is within an indoor climate-controlled office space and/or a private home office or some combination which will be at managements sole discretion. Employee may be subject to florescent lighting, dust, and other normal indoor allergens. Employee may work in close proximity of coworkers and occasionally independently in quiet environments. Physical Requirements Able to lift up to 20 pounds. Extended periods of sitting (at computer desk) Complete repetitive tasks (including operation of computer mouse/keyboard) Disclaimer The above statements are intended to describe the general nature and level of work being performed by people assigned to this classification. They are not to be construed as an exhaustive list of all responsibilities, duties, and skills required of personnel so classified. All personnel may be required to perform duties outside of their normal responsibilities from time to time, as needed. **University Bank is an Equal Opportunity / Affirmative Action Employer**

Responsibilities

The associate is responsible for minimizing foreclosures through debt counseling and the timely review of loss mitigation financial packages. They process workouts and ensure compliance with investor, insurer, and federal regulatory guidelines.