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Loss Mitigation Specialist

Company: Dollar Bank FSB
Location: Canton
Posted on: May 3, 2021

Job Description:

Job Function/Purpose Default Servicing is responsible for monitoring and tracking all assigned real estate secured consumer and mortgage accounts that are delinquent or in default related to collections, loss mitigation, foreclosure, bankruptcy, eviction, claims and REO. The individual in this role must be able to detect and prevent any potential delays and make sound judgments on behalf of the bank, our investors and insurers according to their guidelines in order to avoid significant customer and/or collateral impact, potential monetary loss, potential regulatory or audit findings and all key tasks are completed accurately and in a timely manner. QualificationsBusiness Degree from College/University or commensurate experience preferred. High School diploma or GED requiredRelated experience/training in consumer/mortgage default servicing and/or legal experience preferred.Working knowledge of GSE (FHLMC & FNMA) and Government (FHA & VA) default servicing.Working knowledge of loan and legal documents in default servicing.Knowledge of Sagent (fka Fiserv/LoanServ) loan servicing system preferred.Strong time-management skills, ability to prioritize tasks, coordinate multiple and changing priorities while driving & embracing continuous improvement.Must have excellent telephone, written, and verbal communication skills and demonstrate the ability to effectively communicate in a professional/personable manner.Strong work ethic, detail oriented and possess advanced analytical and problem-solving skills.Confidential and professional with internal and external customer communication and related account and financial information.Self-motivated to succeed both individually and as part of the default servicing team.Ability to work independently with minimal direction.Promote a positive workplace supportive of company and departmental goals and objectives.Proficient in Microsoft Office including Excel, Word and Access Principal Activities/ObjectivesProvide direction to the default attorney network regarding all proceedings and potential delays in compliance with investor/insurer guidelines. Actively manage assigned default portfolio of cases including potential contested/litigated default matters with legal counsel.Review system of record notes and documentation prior to any foreclosure sale for pre-certification and submit accurate and timely bidding instructions. Prepare accurate and timely payoff and reinstatement quotes for borrowers and attorneys, as pile and review all applicable data and documents to validate compliance within the collection process and original loan file documentation. Support default referrals(foreclosure/bankruptcy/eviction) and adherence to investor/insurer/CFPB guidelines.Respond timely to all communication (verbally/written) from GSE, Attorneys, Investors/Insurers, Title Companies and Borrowers to enhance the customer experience.Maintain compliance with all Bank policies and procedures for servicing and default.Manages timely & accurate investor/insurer claim filings and investor billings including but not limited to loss mitigation, foreclosures and REO.Proven ability to identify, analyze and determine the borrowers ability and desire to maintain their loan account. Support strategy of maximizing the solicitation of loss mitigation with borrowers. Ensures any 2nd look process is completed on denied workouts, if applicable.Ensures timely and accurate Default Reporting to the investor/insurer and IRS reporting (1099 A/C/Misc) to borrowers, vendor partners and IRS.Support identifying and reducing risk to the bank regarding regulatory requirements, investor/insurer guidelines and state law including but not limited to collection notices including breach letter, state specific foreclosure notices and foreclosure affidavits including ensuring ongoing compliance and change management.Support oversight and compliance of the loss mitigation process (processing, underwriting, closing) for loan workouts.Maintain working knowledge of regulatory requirements, investor/insurer guidelines related to default servicing including collections, foreclosure, bankruptcy, loss mitigation requirements and timeframes.Other duties as assigned by management. Note: Nothing in this job description restricts managements right to assign or reassign duties and responsibilities to this job at any time.Address:City Center TowerEmployment Status:Full-timeFLSA:Non-ExemptSchedule Information:Monday - Friday 8:30am to 5:00pmBenefits Information:Full-time employees are eligible for a comprehensive benefits package including medical, dental, vision, 401(k) with immediate vesting, tuition reimbursement, and gym membership reimbursement. Part-time employees qualify for 401(k) with immediate vesting, tuition reimbursement, and gym reimbursement. For more information, please visit ollar.bank/company/careers/benefits .EEO Statement:Dollar Bank is an Equal Opportunity Employer. Minority/Female/Veteran/Disabled

Keywords: Dollar Bank FSB, Canton , Loss Mitigation Specialist, Other , Canton, Ohio

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