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Loss Mitigation Processor

Description

JOB SUMMARY
Review and audit documents and financial information on loss mitigation requests.
ESSENTIAL DUTIES AND RESPONSIBILITIES
  • Review 16 or more loss mitigation files per day
  • Review each loss mitigation request to ensure all investor and client documentation requirements have been met.
  • Send letters on incomplete requests on files that are incomplete
  • Send denial letters when required documentation is not returned in 30 days
  • Analyze borrower s income documentation and correctly calculate gross and net monthly income calculations
  • Document all income and expense information correctly into MSP system
  • Order BPOs and appraisals for loss mitigation options, as needed
  • Request escrow projections for modifications, as needed
  • Educate borrowers and realtors about the loss mitigation process (short sale, Home Affordable Modification Program, Modifications, Forbearances)
  • Prepare and mail missing items letters for incomplete loss mitigation packages
  • Prepare and mail blank loss mitigation packages to the borrower
  • contact borrowers and agents via telephone regarding missing items
  • Run credit reports
  • Open and close loss mitigation workstations correctly and timely
  • Respond to voice mails and requests for callbacks within 24 hours of receipt
  • Accurate and timely completion of template steps
  • Prepare and mail correspondence to the borrower to generate a return call
  • Respond to escalation requests within 24 hours of receipt
  • Maintain professionalism in correspondence and conversation with borrowers/real estate agents
  • All other duties as assigned

Qualifications

MINIMUM QUALIFICATIONS
  • Proficiency in MS Windows, MS Outlook, MS Word, MS Excel
  • Typing speed of 60 WPM
  • Mathematical skills- able to perform basic math calculations- adding, subtracting, multiplication, and division
  • Excellent written and verbal communication skills
  • Knowledge and/or experience in mortgage banking or mortgage servicing
  • Ability to work in a fast-paced environment
  • Ability to work independently as well as part of a team
  • Ability to multi-task
JOB SUMMARY
Review and audit documents and financial information on loss mitigation requests.
ESSENTIAL DUTIES AND RESPONSIBILITIES
  • Review 16 or more loss mitigation files per day
  • Review each loss mitigation request to ensure all investor and client documentation requirements have been met.
  • Send letters on incomplete requests on files that are incomplete
  • Send denial letters when required documentation is not returned in 30 days
  • Analyze borrower s income documentation and correctly calculate gross and net monthly income calculations
  • Document all income and expense information correctly into MSP system
  • Order BPOs and appraisals for loss mitigation options, as needed
  • Request escrow projections for modifications, as needed
  • Educate borrowers and realtors about the loss mitigation process (short sale, Home Affordable Modification Program, Modifications, Forbearances)
  • Prepare and mail missing items letters for incomplete loss mitigation packages
  • Prepare and mail blank loss mitigation packages to the borrower
  • contact borrowers and agents via telephone regarding missing items
  • Run credit reports
  • Open and close loss mitigation workstations correctly and timely
  • Respond to voice mails and requests for callbacks within 24 hours of receipt
  • Accurate and timely completion of template steps
  • Prepare and mail correspondence to the borrower to generate a return call
  • Respond to escalation requests within 24 hours of receipt
  • Maintain professionalism in correspondence and conversation with borrowers/real estate agents
  • All other duties as assigned

Qualifications

MINIMUM QUALIFICATIONS
  • Proficiency in MS Windows, MS Outlook, MS Word, MS Excel
  • Typing speed of 60 WPM
  • Mathematical skills- able to perform basic math calculations- adding, subtracting, multiplication, and division
  • Excellent written and verbal communication skills
  • Knowledge and/or experience in mortgage banking or mortgage servicing
  • Ability to work in a fast-paced environment
  • Ability to work independently as well as part of a team
  • Ability to multi-task


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