Loss Mitigation Underwriter I

Job description

Overview: This position is responsible for submitting loan modification workups for the entire waterfall of investor workout options. Primary Responsibilities: - Understand investor’s waterfall and required documents for loss mitigation. - Communicate with customers, real estate agents and attorneys to negotiate short sale settlement offers and advise of loss mitigation decisions. - Manage and monitor account portfolio to ensure that all documentation and account decisions comply with banking policies, investor guidelines and applicable regulations. - Assess property value and variance between appraised properties and offers submitted by potential buyers. - Review tax returns, income statements, pay stubs, credit reports and general customer financial documents. - Determine the most suitable repayment option for customers and calculate loan modification terms. - Prepare workout summaries for management approval. - Communicate with Single Point of Contact, title vendors and Loss Mitigation Closing team to gather information and resolve account complications. - Adhere to applicable compliance/operational risk controls in accordance with Company or regulatory standards and policies. -...