Loss Mitigation Specialist

The experienced Loss Mitigation Specialist is responsible for analyzing complex financial situations of borrowers experiencing payment difficulties and identifying appropriate loss mitigation solutions to minimize financial risk for the company while assisting homeowners in retaining their homes or finding alternative solutions. This role requires in-depth knowledge of various investor and agency loss mitigation programs, strong analytical skills, exceptional communication abilities, and a proven track record of successful loss mitigation outcomes. The ideal candidate will be adept at navigating challenging conversations, exercising sound judgment, and adhering to all regulatory guidelines.

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;

• Borrower Assessment & Counseling:
  • Conduct comprehensive financial assessments of borrowers, including analysis of income, expenses, assets, liabilities, and hardship circumstances.
  • Effectively communicate and explain complex loss mitigation options (e.g., loan modifications, forbearance, short sales, deeds-in-lieu of foreclosure) to borrowers in a clear and empathetic manner.
  • Negotiate and structure repayment plans and other agreements tailored to individual borrower situations while adhering to company policies and investor guidelines.
  • Provide guidance and support to borrowers throughout the entire loss mitigation process, ensuring they understand requirements and deadlines.
• Case Management & Analysis:
  • Manage a pipeline of complex loss mitigation cases, prioritizing based on risk and urgency.
  • Collect, review, and analyze all necessary documentation from borrowers to support loss mitigation applications.
  • Perform in-depth financial analysis, including debt-to-income ratios, property valuations, and net present value (NPV) calculations, to determine the most beneficial outcome for both the borrower and the company.
  • Collaborate with internal departments (e.g., collections, foreclosure, legal, property preservation) and external parties (e.g., real estate agents, attorneys, investors) to ensure seamless processing of loss mitigation requests.
  • Identify and escalate complex or high-risk cases to management as needed.
• Compliance & Regulatory Adherence:
  • Maintain up-to-date knowledge of all relevant federal, state, and local regulations pertaining to mortgage servicing and loss mitigation (e.g., RESPA, TILA, Dodd-Frank, CFPB guidelines).
  • Ensure all loss mitigation activities are conducted in full compliance with company policies, investor guidelines, and regulatory requirements.
  • Accurately document all borrower interactions, analyses, decisions, and communications in the ICE/Black Knight servicing system.
  • Adhere to strict confidentiality standards regarding borrower information.
• Process Improvement & Training:
  • Identify opportunities for process improvements within the loss mitigation department to enhance efficiency and effectiveness.
  • Mentor and provide guidance to less experienced loss mitigation specialists as needed.
  • Participate in ongoing training and professional development to stay current with industry best practices and regulatory changes.

EDUCATION AND/OR EXPERIENCE

• Bachelor’s Degree in business related field or equivalent work experience.
• 5 years minimum of demonstrable, progressive experience in mortgage loss mitigation, with a proven track record of successfully resolving complex cases.
• Experience with BKFS/ICE MSP, Loss Mitigation application, and other ICE default applications.
• In-depth knowledge of various loss mitigation options, including loan modifications (HAMP, in-house), forbearance agreements, repayment plans, short sales, and deeds-in-lieu of foreclosure.
• Strong understanding of mortgage servicing regulations (RESPA, TILA, CFPB, etc.) and investor guidelines (Fannie Mae, Freddie Mac, FHA, VA, private investors).
• Proficient in financial analysis, including the ability to interpret credit reports, tax returns, pay stubs, and bank statements.
• Excellent written and verbal communication skills, with the ability to explain complex information clearly and concisely to diverse audiences.
• Proven negotiation and problem-solving skills with a strong customer service orientation.
• Ability to work independently, manage a high-volume pipeline, and prioritize tasks effectively in a fast-paced environment.

SKILLS

• Data Entry Accuracy.

Access, input, retrieve and interpret information using applicable computer systems (including but not limited to: Microsoft Office, Outlook, Excel, Lotus, etc.).

• Above average customer service skills.

• Organization Skills

• Problem Solving/Critical Thinking

• Analytical Skills • Ability to apply basic mathematical concepts such as adding, subtracting, multiplying and dividing.

• Ability to utilize company equipment in the assigned areas (including but not limited to telephone, copiers, fax machines, computers, internet, etc.).

• Very strong communication skills. Understand and respond appropriately to basic and complex inquiries.

• Read, write and communicate using English language sufficient to perform job functions.

This employer participates in E-Verify. If hired, the employer will provide the federal government with your Form I-9 information to confirm that you are authorized to work in the U.S.

Union Home Mortgage Corp. provides equal employment opportunities to all employees and applicants for employment and prohibits discrimination and harassment of any type without regard to race, color, religion, age, sex, national origin, disability status, genetics, protected veteran status, sexual orientation, gender identity or expression, or any other characteristic protected by federal, state or local laws.