First United Bank · 19 hours ago
Mortgage Loss Mitigation Specialist
Plano, TX
Full-time
Onsite
Entry, Mid Level
2+ years expFirst United Bank is a learning organization that prides itself on offering exciting opportunities for employees to grow. The Mortgage Loss Mitigation Specialist is responsible for underwriting, decisioning, and processing loss mitigation requests while ensuring compliance with investor and regulatory guidelines.
BankingFinancial ServicesInsuranceLending
Responsibilities
Underwrite and render final decisions on loss mitigation request, including but not limited to: Repayment Plans, Forbearance Agreements, Loan Modifications, Partial Claims, Payment Supplement Agreements, Special Relief Measures, Short Sales, Deeds-in-Lieu of Foreclosure
Assist customers, via email and phone, with routine account-related questions and requests as well as collection of payments required during a loss mitigation review
Collect necessary documents from borrowers to complete their loss mitigation reviews while ensuring accuracy, completeness and document compliance. Documents meet investor-specific format, age, and verification requirements
Ensure all underwriting decisions withstand internal quality control, audit and regulatory review including, but not limited to: FHA/HUD loss mitigation waterfall and servicing requirements, VA servicing and compromise sale requirements, USDA Rural Housing Servicing Guidelines, FNMA Servicing Guide, FHLMC Single-Family Seller/Servicer Guide
Conduct detailed financial, hardship, and collateral analyses to determine borrower eligibility, including: Gross and net income calculations, Affordability assessments, Equity, surplus, and deficiency calculations
Ensure underwriting decisions comply with CFPB loss mitigation timelines and dual-tracking prohibitions
Maintain complete, audit-ready loan files
Clearly document underwriting rationale and decisions within servicing systems
Validate trial performance, conduct post-trial payment plan evaluations and clear outstanding conditions for workout finalization including backend processing activities including, but not limited to document accuracy, system coding and implementation in accordance with workout requirements
Maintain working knowledge of mortgage default servicing industry updates
Support continuous process improvement initiatives and provide recommendations to enhance underwriting and workflow efficiency
Demonstrate proficiency in loss mitigation underwriting, decisioning, and processing
Maintain up-to-date knowledge of regulatory, investor, and servicing guideline changes
Accurately calculate trial payments, capitalization limits, and deferred balances
Review and resolve escalations, appeals, and reconsideration requests
Review executed purchase contracts and HUD-1 Settlement Statements or Closing Disclosures for short sales
Participate in quality control reviews, audits, and investor examinations
Complete all required compliance and training courses annually
Adhere to company policies, procedures, and code of conduct
Maintain professional appearance and business-casual dress standards
Perform other related duties as assigned
Qualification
Required
Minimum of 2 years of mortgage servicing experience with a focus on loss mitigation underwriting, decisioning, and processing
High School Diploma or GED (required)
Advanced knowledge of FHA Single Family Housing Policy Handbook
Advanced knowledge of VA Servicing Guidelines
Advanced knowledge of USDA Servicing Regulations
Advanced knowledge of FNMA Servicing Guide
Advanced knowledge of FHLMC Seller/Servicer Guide
Strong analytical and decision-making skills
Ability to interpret financial, legal, title, and settlement documentation
Excellent written and verbal communication skills
Strong organizational skills and attention to detail
Ability to manage a high-volume pipeline in a fast-paced environment
Proficient computer and basic mathematical skills
Dependability and adherence to timelines
Strong interpersonal and teamwork skills
Sedentary work requires prolonged sitting or standing
Frequent use of hands and fingers for repetitive motions
Visual acuity for close work
Occasional lifting, up to 10 pounds
Preferred
Knowledge of FNMA, FHLMC, and GNMA investor guidelines (preferred)
Experience with short sales and deed-in-lieu underwriting and processing
Bachelor's degree (preferred)
Proficiency with mortgage servicing systems (MSP preferred)
Company
First United Bank
First United Bank is a banking company that specializes in the fields of personal banking, loans, and business loans.
1001-5000 employees
Funding
Current Stage
Late StageTotal Funding
$80.45M2022-02-01Series Unknown· $80.45M
Leadership Team
Tadd D. Tobkin
Executive Vice President
Recent News
2026-01-13
2025-11-11
2025-10-22
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