Midwest Loan Services · 17 hours ago
Loss Mitigation Associate
Hancock,MI,US
Full-time
Hybrid
Entry Level
2+ years expMidwest Loan Services is focused on minimizing foreclosures and is seeking a Loss Mitigation Associate. The role involves reviewing financial packages, processing workouts, and ensuring compliance with investor and insurer regulations to help customers avoid foreclosure.
Financial Services
Responsibilities
Review financial packages for completeness
Process workouts and monitor workouts based on GSE, FHA, USDA, VA, FHLB, GNMA and private clients guidelines
Ensure all federal, state and investor guidelines and requirements are adhered to for underwriting review and decision
Monitor & respond to departmental email
Communicate with customers, credit unions, insurers, and secondary market investors to strategize workout programs
Report workouts to investors, Treasury, and investor vendors
Counsel delinquent customers and attend via phone periodic mitigation meetings with attorneys
Work with other departments to ensure appropriate changes to the system, payments are applied correctly, and foreclosures are placed on hold or cancelled as appropriate
Work with State Assistance and Hardest Hit Programs
Maintain ICE’s MSP and LoanSphere with appropriate codes and comments
Complete updates in FHA Connection, SMDU, FHLMC Resolve, USDA-LINC, VA Valeri, FHLB eMAQCS
Maintain accuracy in payments posted to loans in loss mitigation process
Attend all training sessions for department
Update and review announcements and changes to workout programs
All other duties as assigned by management
Qualification
Required
High school diploma (or equivalent) required
Minimum 2 years of experience in mortgage loss mitigation and related default servicing
Familiarity with GSE, FHA, USDA, VA, FHLB and GNMA loss mitigation guidelines
Strong understanding of foreclosure prevention options and regulatory compliance
Proficiency in loan servicing systems MSP and LMS (ICE)
Strong attention to details and organizational skills
Effective verbal and written communication abilities
Maintain & foster positive relationships with customers and business partners
Complete all assigned training in a timely manner
Provide professional communication in both oral & written expression
Excellent organizational, time management & analytical skills
Organizational skills with ability to prioritize and meet deadlines while maintaining high degree of accuracy
Ability to manage confidential information
Strong analytical skills, with the ability to seek out and offer business-oriented solutions
High degree of dependability
Able to lift up to 20 pounds
Extended periods of sitting (at computer desk)
Complete repetitive tasks (including operation of computer mouse/keyboard)
Company
Midwest Loan Services
Mortgage loan subservicing is a highly demanding and regulated discipline that requires precise expertise.
51-200 employees
Funding
Current Stage
Growth StageLeadership Team
Mark Brown
President & CEO Midwest Loan Services
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