Note: The job is a remote job and is open to candidates in USA. ForFutures Financial, Planning is a financial advisory practice of Ameriprise Financial Services LLC that focuses on providing superior technology and services for the mortgage and real estate industries. The Loss Mitigation Underwriter role involves evaluating applications and managing caseloads to determine risk acceptability and coverage, while ensuring compliance with regulations.
Responsibilities
- Views and evaluates applications, renewals, re-pricings, restrictions, and cancellations to determine risk acceptability and coverage
- Calculates borrower’s income and expenses to a high standard of accuracy
- Manages a caseload of files including all steps necessary from application to modification
- Updates and notates system of record and investor portals
- Operates according to standard operating procedures and all government and investor regulations
- Achieves goals and objectives with a focus on quality of service and improving the customer experience, while not causing unwarranted delays to processes or defaults
- Reviews and evaluates policy applications, renewals, re-pricings, restrictions, and cancellations to determine risk acceptability and coverage
- Reviews loss mitigation package documentation to determine if the homeowner qualifies for a loss mitigation option
- Reports information to the investor, client, and insurer
- Educates homeowners about loan modification programs, forbearance plans, repayment plans, short sales, and deeds in lieu options as applicable
- Calculates income, expenses, and escrow advances in accordance with departmental and investor/insurer/client guidelines
- Orders and reviews title searches and BPO/AVM/appraisals as applicable
- Reviews and implements according to investor/client/insurer guidelines for loan modifications, forbearances and repayment terms, short sales, and deeds in lieu
- For short sales, reviews marketing strategies, listing history, offer activity
- Resolves counter offers in accordance with departmental procedures and investor/insurer/client guideline
- Requests and follows up on foreclosure holds as necessary
- Submits loss mitigation requests to investor/client/MI for approval as required
- Declines files as directed in accordance with departmental procedures as set forth by investor/client/investor/insurer guidelines and sends appropriate denial letter if homeowner does not qualify for a workout option
- Prepares and sends trial period documents, forbearance plan documents, repayment plan agreements, short sale approval and closing letters and decline letters as needed
- Monitors status of repayment plans, forbearance plans, and trial period plans and update MSP system and investor system of record with payment records as needed
- Answers inbound phone calls, return voicemails, escalations, and all other requests within 24 hours from receipt
- Contacts homeowners and real estate agents to provide status of loss mitigation files
- Maintains a caseload of files as established by the department
- Manages written and verbal correspondence between the homeowners, client, investor, insurer, subordinate lien holders, real estate agents, consumer credit counseling services, and foreclosure attorneys
- Follows functional area’s processes and procedures in daily activities, troubleshoots as needed and recommends suggestions for continuous improvements to overall operations
- Actively contributes to the results of a team and works toward achieving goals and objectives
Skills
- High School diploma or equivalent
- 1-3 years of experience in Collections, Loss Mitigation or other mortgage banking, mortgage servicing or real estate related experience
- 1-3 years of mortgage servicing Loss Mitigation Underwriting experience strongly preferred
- Working knowledge of fundamental concepts, practices and procedures of department/field
- Risk assessment skills
- Organized and self-motivated with ability to meet strict deadlines
- Persuasive and professional communication skills
- Strong Customer Service skills
- Strong verbal and written communication skills
- Demonstrated ability to provide attention to detail and concern for accuracy and consistency in results
- Ability to learn rules, regulations, and laws to meet state, investor, client, and insurer guidelines
- Establishes effective working relationships at the work group level
- Some college preferred
- 1-3 years of mortgage servicing Loss Mitigation Underwriting experience strongly preferred
- Knowledge of Black Knight MSP system preferred
- Knowledge of Consumer Finance Protection Bureau (CFPB) and Fair Debt Collection Practices Act (FDCPA) guidelines preferred
Benefits
- Medical
- Dental
- Vision
- 401k
- PTO/paid sick leave
- Employee stock purchase plan
Company Overview
ForFutures Financial Planning,A financial advisory practice of Ameriprise Financial Services, LLC, is a true Financial Planning establishment focused on the education of its clients striving to create and preserve their wealth. It was founded in 1992, and is headquartered in Marlton, NJ, US, with a workforce of 2-10 employees. Its website is http://www.fafltd.com.