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Valon · 1 week ago

Loss Mitigation Document and Closing Specialist

United States

Full-time

Remote

Mid Level

$63K/yr - $85K/yr

3+ years exp

Valon is transforming mortgage servicing and consumer direct lending with a technology-first approach. The Loss Mitigation Document and Closing Specialist manages the closing of loan workout packages, ensuring compliance with guidelines while acting as a liaison to finalize agreements and minimize risk for the organization.

Financial ServicesFinTechReal Estate

Responsibilities

Post-Approval Management: Oversee the end-to-end completion process for approved loss mitigation workouts, making sure all conditions precedent are met

Documentation & Compliance: Review, prepare, and process all necessary legal and internal documentation for workout completion, ensuring accuracy, completeness, and strict adherence to investor, insurer, state, federal, and CFPB guidelines and internal policies

Document and Title Processes: Manage all document and title processes, including the meticulous review, clearance, and quality control of borrower-executed documents to ensure proper notarization and execution

Document Rejection Resolution: Proactively track and resolve document rejections, both before system finalization and following post-workout settlements

Communication & Coordination: Communicate professionally with servicers, attorneys, title companies, real estate agents, and internal departments (e.g., servicing, legal, accounting, collections) to gather required information, resolve discrepancies, and expedite the completion process. You'll also coordinate with various teams and provide exceptional customer service to ensure a seamless and efficient loss mitigation process

Condition Fulfilment: Track and follow up on outstanding conditions and requirements for workout completion, including but not limited to receipt of executed documents, payments, insurance, and property inspections

Trial Plan Monitoring: Monitor trial plans diligently and handle plan cancellations as needed

System Updates & Data Integrity: Accurately update internal servicing systems and databases with the status of workout completions, ensuring data integrity and proper account coding. You'll manage the finalisation of workout terms in our proprietary system and maintain accurate records

Modification Reconciliation: Reconcile modifications to ensure capitalised amounts align with the adjustments to the loan's unpaid principal balance

Workout Term Amortization: Ensure approved workout terms are properly amortized and cure delinquencies

Investor System Submission & QC: Submit workout settlements to investor systems and perform a final quality control check of the internal system to ensure it accurately reflects workout documents before closing workout templates

Interdepartmental Collaboration: Collaborate closely with departments such as cashiering, loan accounting, and investor reporting to ensure accurate and timely processing of loans eligible for buyout

Problem Resolution: Identify and resolve issues or roadblocks that may arise during the completion process, escalating complex cases to management as needed

Timeline Management: Monitor and manage critical deadlines and timelines to ensure timely workout completion and avoid further delays or potential re-defaults

Reporting: Assist in generating reports on workout completion rates, outstanding items, and performance metrics

Quality Assurance: Conduct a final review of completed workout files to ensure all documentation is in place and accurately reflects the terms of the agreement

Process Improvement: Identify opportunities to streamline and improve the loss mitigation workout completion process

Additional duties as assigned by your manager

Qualification

Loss mitigation optionsMortgage servicing regulationsDocumentation accuracyMicrosoft Office SuiteMortgage servicing softwareAnalytical skillsOrganizational skillsCommunication skillsProblem-solving skillsTime management

Required

High school diploma, GED, or equivalent secondary education certification required

At least 3-5 years of experience in mortgage servicing, loss mitigation, real estate, or a related field, with a strong emphasis on documentation and transaction completion

An in-depth understanding of various loss mitigation options (modifications, short sales, deeds-in-lieu, forbearance) and their associated documentation requirements

Familiarity with mortgage servicing regulations (RESPA, TILA, FCRA, CFPB) and GSE guidelines (Fannie Mae, Freddie Mac), as well as investor and insurer guidelines

Must possess exceptional attention to detail and accuracy when reviewing and processing complex financial and legal documents

Superior organizational and time management skills, with the ability to manage a high volume of cases and prioritize effectively

Excellent written and verbal communication skills with the ability to professionally interact with diverse stakeholders

Strong analytical and problem-solving abilities to identify issues and implement effective solutions

Proficient in Microsoft Office Suite (Word, Excel, Outlook). Experience with mortgage servicing software (e.g., Black Knight MSP, Fiserv, LoanSphere) and CRM systems

The ability to adapt to changing priorities and thrive in a fast-paced environment

Preferred

Experience managing a high-volume loan portfolio

Knowledge of bankruptcy and foreclosure processes as they relate to loss mitigation

A Bachelor's degree in Business Administration, Finance, Real Estate, or a related field is preferred. Equivalent work experience will also be considered

Benefits

Competitive salary and 401k plan

Comprehensive medical, dental, & vision benefits

Pre-tax deductions for public transportation, rideshare services, and parking expenses

Company-wide orientation for you to successfully onboard, and other learning & development opportunities, including regular review cycles that feature 360-degree feedback

17 days paid time off, 5 paid sick/personal days, and 11 company holidays

12 weeks off for both birthing and non-birthing parents - fully paid