Loss Mitigation Specialist

Overview:

Under supervision of the Foreclosure Program Assistant Manager, The Loss Mitigation Specialist initiates contact and provides assistance to mortgage loan customers who are in default; Counsels and guides the customer in order to achieve workout alternatives based upon customer's circumstances. The counselor works to minimize potential losses on delinquent loans by contacting the borrowers &/or their agents, mortgage brokers, real estate agents, title companies, attorneys, investors and insurers to work toward resolution of the delinquency.

The incumbent will correspond with borrowers, loan officers, and title companies as well as our clients that own the loans in order to facilitate a resolution.  Analyze borrower and property information then formulate a scenario that results in an improved situation for the borrower.  The successful candidate must understand the process for short payoff, modification, forbearance and deed-in-lieu scenarios.

What You'll Do:

• Counsel and assist clients with default and/or foreclosure process.
• Pursue communication with defaulted customers to offer potential workout alternatives
• Analyze customer's situation and collateral risk to present alternative solutions including Forbearance Plans, Repayment Plans, Modifications, Assumptions, Pre-foreclosure / Short Sales, and Deed in Lieu;
• Assist in identifying, negotiating and pursuing the appropriate loss mitigation option that best maximizes customer satisfaction and investor return.
• Assist victims of predatory lending, and assist clients with identifying and avoiding predatory lending practices such a loans and unfair and inappropriate lending practices Identify, evaluate, counsel, and assist clients with credit issues
• Ability to explain all workout options and know the requirements of each one.
• Serve as liaison and advocate for homeowners with lenders
• Ensure that all requested documentation has been requested and received from the customer, employer and lender.
• Maintain all files and reporting, including providing necessary documentation,
• relevant to the organization of the program and as required by the funding source
• Conduct one-on-one / group workshops for clients on issues such as foreclosure
• prevention, budget building, resolving credit issues; and money management
• Participate in all meetings and training as required.
• Complete in collaboration with home owner a loss mitigation workout package 

What You'll Need to Bring:

• High School Diploma or equivalent required.
• Minimum two years collection, support or related customer service experience; Loss Mitigation experience is preferable but not required.
• Knowledge of basic mortgage default timelines / procedures (bankruptcy / escrow/ foreclosure).
• Knowledge of bank-owned, investor & insurer guidelines for the mortgage and consumer companies.
• Excellence in consulting and advising customers via telephone and written communication.
• Excellent communication, comprehension, listening and negotiation skills.
• Ability to meet deadlines and work independently with medium level of supervision.
• Understanding of debt collections in any stage of delinquency (up to 180 days, charge off and bankruptcy). Foreclosure, bankruptcy and REO experience preferred.
• Familiarity with financial statements, tax returns, credit reports, home appraisals, title searches and other documents used to evaluate a pre-foreclosure remedy.
• Basic understanding of Mortgage lending and servicing.
• Must be able to work in a team environment to interact well with employees and all levels of the organizations.
• Proficient in Microsoft Word, Outlook, Access and Excel with a minimum level of Intermediate
• Ability to travel locally and regionally, including evenings and weekends.  Overtime may be required to meet our clients' needs.

Please Note:  This is a full-time, hourly contractual position until June 30, 2010, contingent upon available funding.  The position will be based in our offices in Randallstown, Maryland.  Remote work option not available for this position. Non benefits eligible.  Hourly rate will be based on experience.

Application Process:  Please forward resume and cover letter to Human Resources:  stapper@wearefamilycdc.org

We are Family Community Development Corporation is an Equal Opportunity Employer