Loss Mitigation Negotiator
Date Posted [Nov-05-09] (ID: 99099)
JOB DESCRIPTION
TITLE: Loss Mitigation Negotiator
REPORTS TO: Loss Mitigation Supervisor
BUSINESS UNIT: Loss Mitigation – Cost Center 22889
JOB SUMMARY
Work with home owners, real estate agents, attorneys, investors, MI companies, and clients to assist home owner in pursuing alternatives to foreclosure. Evaluate and determine appropriate workout options based on the financial information provided by the borrower, credit report, property value, borrower’s hardship and investor/client guidelines. Respond to written and phone inquiries from borrowers, investor, clients, title companies, and MI companies.
ESSENTIAL DUTIES AND RESPONSIBILITIES
- Review loss mitigation files in a timely manner to determine if the borrower qualifies for a loss mitigation option
- Order BPO’s for loss mitigation options, as needed
- Order title searches for loss mitigation options, as needed
- Obtain subordinations on 2nd liens if needed for modifications
- Obtain title endorsements, prepare and submit loan modifications for recording as required
- Evaluate short sale offers and request counter offers, as needed
- Educate borrowers and realtors about the short sale process, deed in lieu process, Home Affordable Modification Program, loan modification program, repayment plan, and forbearance workout options, as applicable
- Submit loss mitigation packages to the investor and/or insurer to review for approval in a timely manner
- Assist with inbound calls, as needed
- Contact borrowers and agents to provide status of loss mitigation files
- Decline files if borrower does not qualify for a workout option
- Request and follow up on foreclosure holds as necessary
- Respond to voice mails and requests for callbacks within 24 hours of receipt
- Proper documentation of accounts within LPS system to assist call center with providing accurate status to callers
- Accurate and timely completion of template steps
- Prepare of loan modifications, short sale closing letters, forbearance plans, repayment plans and decline letters, as needed
- Request correspondence to be sent to the borrower to generate a return call or provide additional information for the file
- Respond to escalation requests within 24 hours of receipt
- Maintain professionalism in correspondence and conversation with borrowers/agents
- All other duties assigned
MINIMUM QUALIFICATIONS
· Minimum of three year collections, loss mitigation or other mortgage/real estate related experience
· At least one year of telephone customer contact experience
· High school diploma or GED
· Ability to work in a structured environment
· Ability to multi-task
· Familiarity MS Office products of Word, Excel, and Outlook
· Knowledge of Fair Debt Collection Protection Act required
· Excellent written and verbal communication skills
- Ability to work efficiently in a fast-paced environment where priorities change frequently to meet business needs.
· Ability to work independently as well as part of a team and focus on results; adaptable and flexible
· Strong negotiation skills
· Solid PC experience and typing skills
· Demonstrated ability to provide attention to detail and concern for accuracy and consistency in results
· Ability to learn rules, regulations, laws and methods of collection and skip tracing
· Ability to structure a deal that serves the best interest of the organization, insurer, and client
· Ability to maintain a file caseload of at least 150 files
