Loss Mitigation Underwriter II

Job description

Overview: This position is responsible for submitting loan modification workups for the entire waterfall of investor workout options. This position will also be responsible for preparing loans for foreclosure mediation hearings, working with various investors and cross training with other areas of loss mitigation. Primary Responsibilities: - Understand investor waterfalls and required documents for loss mitigation. - Manage and monitor account portfolio to ensure that all documentation and account decisions comply with banking policies, investor guidelines and applicable regulations. - Assess income and expenses, as well as property value and variance between appraised properties and offers submitted by potential buyers. - Serve as liaison to various investors, including, but not limited to Fannie Mae, Freddie Mac and M&T Bank to gain approval for settlements and provide each party with documentation necessary to render a decision. - Review workout packages, including hardship letters, tax returns, income statements, pay stubs, credit reports, sources of debt and general customer financial documents to determine the most suitable repayment option for customers. - Calculate loan mod...