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Guild Mortgage · 1 day ago

Loss Mitigation Underwriter I

United States

Full-time

Remote

Entry Level

$23/hr - $28.75/hr

2+ years exp

Guild Mortgage Company is a mortgage banking firm dedicated to serving homeowners and buyers since 1960. The Loss Mitigation Underwriter is responsible for evaluating and underwriting loss mitigation applications, analyzing financial information, and determining the best course of action for delinquent mortgage accounts.

Consumer LendingLendingMortgageReal Estate

Responsibilities

Request and gather supporting documentation to create complete loan workout packages within required timeframes, complying with investor, insurer, state, federal, and CFPB guidelines

Evaluate and underwrite loss mitigation applications, including forbearance agreements, repayment plans, partial claims, deferrals, and loan modifications

Analyze borrower financial statements and supporting documentation to determine appropriate resolutions

Assess risk and make informed decisions using investor waterfalls and guidelines to mitigate potential losses

Collaborate with various investors to decide on retention eligibility for borrowers experiencing hardships

Conduct timely, accurate, and compliant reviews of files according to investor guidelines and National Servicing Standards

Utilize investor applications to obtain workout results

Notify and coordinate with relevant departments and agencies regarding loan statuses, ensuring accurate and timely processing

Maintain a loan-level portfolio accurately and efficiently, adhering to regulatory and investor deadlines

Evaluate income and expense calculations to ensure the borrower’s ability to continue making mortgage payments

Follow up on outstanding issues to ensure timely decision-making in accordance with regulations and guidelines

Order appraisals and ensure homeowners receive valuation notices and copies

Order date downs and/or title endorsements for modifications

Obtain necessary title clearance and subordination documentation

Prepare income/expense calculations to ensure compliance with standards

Provide accurate information to resolve issues and follow up on commitments promptly

Develop workout recommendations such as forbearance, repayment, or modification using financial documents

Enter and upload documents to internal systems for review and approval

Follow information security policies

Assist with internal and external audit requests

Participate in projects to improve business performance

Communicate effectively with the management team and escalate issues as needed

Stay current on industry regulations and recommend updates to internal policies and systems

Update internal tracking and investor systems accurately

Run waterfall calculations to finalize workout options

Provide input on updates to procedure manuals or job aids

Perform other duties as assigned

Qualification

Mortgage underwritingLoss mitigation processesAnalytical skillsFNMA/FHLMC/FHA/VA/USDA knowledgeDocument retention softwareMicrosoft Office SuiteMath skillsCommunication skillsDetail-orientedOrganizational skills

Required

Bachelors Degree directly related to the position or equivalent, preferred. A combination of education and experience may be considered in lieu of the Bachelor's degree

Minimum two years or more years total mortgage servicing experience, or at least one year working in loss mitigation roles

Strong working knowledge of FNMA/ FHLMC/ FHA/ VA/ USDA mortgage loan documents, including overall processes and inter-relationships, standards and requirements, terminology, compliance and regulatory requirements related to federal debt collection laws, Federal Bankruptcy Laws, and proper handling of other legal situations

Strong analytical and decision-making skills

Thorough understanding of mortgage underwriting and loss mitigation processes

Detail-oriented with a high level of accuracy and integrity

Highly organized and detail-oriented; ability to work in a fast-paced, department-metrics-driven environment required

Intermediate math skills required

Excellent verbal and written communication skills required

Proficiency in Microsoft Office Suite, Word, Excel, Wiki, collaborative cloud-based programs, and third-party software applications required

Commitment to company values

Customer Service - Proactive attention to each person

Integrity - Do and say what's right

Respect - Treat others with dignity

Collaboration - Listen and work together