Loss Mitigation Specialist

The Loss Mitigation Specialist is a hybrid role of Collections and Loss Mitigation aimed at providing an intermediate step between these two roles. This role will continue to support the Collections area while incrementally learning the investor and regulatory rules that Loss Mitigation must adhere to as well as the hierarchy of foreclosure prevention options offered by the various investors as well as the eligibility requirements needed to qualify for these programs.

At UHM, we understand diversity comes in many different forms. It’s our commitment to improve inclusion in the workplace through programs and policies that establish a positive and inclusive environment where every Partner, regardless of their background, can grow and excel. We value diversity, educate on equity, and create inclusive partner opportunities to ensure that you know #UBelongAtUHM!

ESSENTIAL DUTIES AND RESPONSIBILITIES include the following but are not limited to;

Collector activity - phone calls and communication to borrowers to:

• Provide updates on accounts

• Arrange for payments and payment plans

• Provide information and guidance regarding affordable options for retaining their homes

• Collect information and correctly input borrower data

• Communicate non home retention, disposition benefits to borrowers

• Follow up with borrowers on any deficient requirements

Loss Mitigation -

• Issue letters and disclosures in compliance with investor guidelines

• Review applications to determine eligibility under investor guidelines

• Review and authorize closing documents according to guidelines for short sales

• Coordinate with company attorney to execute all documents for Deed-in-Lieu of Foreclosure

• Communicate with borrower’s realtors and give guidance for short sale process

• Communicate with borrowers the requirements for complete assistance application

• Underwrite complete application information to determine appropriate workout options

• Send all communication according to timelines established by guidelines

• Review income and credit report to determine eligibility as established by guidelines

• Monitor OCC bulletins, Fannie Mae, Freddie and all other investor guidelines for compliance within the department