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Loss Mitigation Specialist Resume Samples
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0-5 years of experience
Managed the Loss Mitigation process for Fannie Mae, Freddie Mac, USDA, VA, FHA, and private loans in active bankruptcy within Home Lending.
- Audited the Default Mitigation Management Portal and Bankruptcy mailbox ensuring protection from legal sanctions.
- Reviewed and analyzed servicing notes, ensuring compliance with court orders and service level agreements. Contacted legal department when not in compliance for resolution.
- Monitored the Pacer system for access to bankruptcy public records and up to date docket information, verifying customer bankruptcy status and courts’ final orders.
- Processed and submitted completed files to underwriting for review, ensuring investor criteria and court determined timelines were met.
- Communicated all loss mitigation decisions electronically via the Default Mitigation Management Portal and responded to questions and concerns.
- Authenticated disputes received from attorneys and determined action required. Submitted to escalation department for resolution.
0-5 years of experience
- Managed a portfolio consisting of 100 to 150 loans that were 90+ days delinquent.
- Contacted borrowers regularly while adhering to company communication standards, as well as federal and state laws, and documented details of each conversation in the account log.
- Educated borrowers as to various facts, laws, and ideas surrounding loss mitigation process moderately concentrating on their rights as a borrower and our rights as a lender.
- Collected required documents and calculated income, monthly housing expenses, and debt-to-income ratio to determine if borrowers pre-qualify for a modification.
- Set loans up on forbearance/repayment plans. Evaluated borrower’s hardship, assets, income, and expenses to configure terms and the down payment amount of proposed plans.
- Trained new associates and assisted team members by answering questions, offering guidance, and discussing accounts with irate customers.
0-5 years of experience
Analyzed financial packages received from borrowers and worked with management to determine qualified programs within investor guidelines
- Interacted with borrowers to determine options and/or contributions to Loss Mitigation strategies
- Monitored the receipt of appraisals and title updates to determine workout feasibility based on guidelines
- Produced submission packages for investors, insurers, and management
- Documented analysis results of a workout approval/denial and forwarded to appropriate party for final resolution
- Evaluated all potential Loss Mitigation plans for VA and Fannie/Freddie Mae insured loans
- Received “Standing Ovation” Award for excellence in customer service for 2011-2014
0-5 years of experience
- Reduced the delinquency level of the portfolio and prevented loans from becoming delinquent by utilizing the most appropriate alternative to foreclosure
- Performed outbound calls to clients for the purpose of making payment arrangements on past due accounts. Identify potential problems and communicate to management in a timely manner
- Completed training as required to keep skills current and comply with policies/procedures.
- Provided clients with appropriate product information to result in multiple account relationships
0-5 years of experience
- Maintained activities on all accounts and collected daily data on all delinquent accounts.
- Serviced and managed inbound and outbound collection calls.
- Administered collection payments and received outstanding fees.
- Evaluated borrower’s financial condition to prepare strategies in case of nonpayment of debt.
- Monitored loss mitigation process and made borrower follow up calls.
- Prepared and followed target goals and maintained a proper queue
- Analyzed and identified problem areas and ensured appropriate resolution.
0-5 years of experience
- Managed accounts in bankruptcy and foreclosure.
- Prepared foreclosure and bankruptcy recovery analysis on all new inventory and assured appraisal analysis were prepared prior to charge off review.
- Organized and analyzed files to assure proper action plan per loan.
- Handled inbound calls from customers, and determined customer needs.
- Counsel delinquent customers through telephone contact.
- Ensured individual and department goals are met by providing resolution and comprehensive written responses to the customer complaints and inquires.
- Contacted and worked closely with other internal departments for supporting information documentation, account history, account corrections and reimbursements.
0-5 years of experience
Adhered to investor guidelines utilizing internal audit methods to coincide with government lending directives from FHA, FHLMC, FNMA and VA.
- Delegated loss mitigation workout approval between consumers and lenders via mandated guidelines, specializing in all federal lending policies.
- Verified closing docs with underwriters, title companies, and reviewing loan application for inaccuracies and completeness.
- Conformed to company and federal directives under state and national lending requirements. Obtained and conducted formal training under consumer counseling and financial education.
0-5 years of experience
- Worked on a specialized team for one investor, handling short sales, DILs, repays, mods, and charge offs on accounts that were from zero days due through foreclosure.
- Placed files on hold via NewTrak and utilized other systems such as Fiserv/MtgServ, FIS, and Heat.
- Assisted and counseled customers, work on liens, reviewed credit reports, and trained new hires.
0-5 years of experience
- Updated borrower financial information to determine if candidate qualified for a workout as a viable loss mitigation solution.
- Requested and followed up on foreclosure holds as necessary.
- Handled a basic to complex level of workout cases such as modifications, short sales and deeds in lieu of foreclosure.
- Completed documentation of workout efforts
- Contractual Employee and the assignment ended August 31, 2011
0-5 years of experience
- Contact customers by telephone and assist them on various programs such as reinstatement, payment plan, short sale or modifications which assisted them in avoiding potential foreclosure
- Review loans and evaluate whether or not they were processed in accordance with HAMP, other proprietary modification or other applicable program guidelines and requirements
- Coordinated with agents and borrowers and provided regular status reports for loss mitigation files
- Consistently met lead referral rate monthly scorecard goals as provided regularly by management. Results are from resolution reports that focused on cash leads and loss mitigation referrals
0-5 years of experience
- Serving inbound/outbound customers by providing mortgage loan information, resolving service issues, offer options for retention and liquidation of home.
- Ensured accuracy on all processes within guidelines given with Government regulations.
- Assisted many peers on best practices, policy/procedure, and also how to manage their collections portfolio.
- Trained the new hires by doing side by sides, compliance and quality, and business procedures.
0-5 years of experience
- Manage and Investigate process and procedure, communicating with customer and relevant external parties and maintain appropriate and timely recordkeeping files on all claims.
- Keep work and investigative files current and manage the accurate recording of all information required for the successfully resolution of claims investigations.
- Manage the appraisal process and work with Appraisers, secondary insurance coverage as required to determine and communicate damages and establish repair/damage estimates in the resolving of property damage claims.
- Establish contact and maintain effective professional relationships with insured parties, agents, underwriters, primary insurance and others involved in the claims process. Review claims and claim status with customers, agent or underwriters as necessary to facilitate the prompt, accurate resolution of claims filed.
- Obtain and prepare the necessary documentation associated with the prompt, accurate, and thorough verification of losses and administration of claims. Follow established policies, procedures, and processes in preparing information, and submit each claim for to audit for the final review in a timely manner and in accordance with GAP standards and expectations.
0-5 years of experience
- Work with the Loss Mitigation Department in approving and declining mortgage loan modifications by examining supporting documentation.
- Review complex loan files, verifying accuracy of documents received, reviewing for missing documents, credit reports, appraisals, 1040’s, financial statements, W-2’s, etc.
- Review files to show inabilities to meet HAMP guidelines, as well as the guidelines of investors including Fannie Mae, Freddie Mac, and FHA.
- Assessed documents while extracting data elements and loading them into templates.
0-5 years of experience
Responsible for administering loan modifications, streamline modifications, forbearances, short sales and mortgage release (deed in lieu) programs for Fannie Mae and Freddie Mac.
- Write Policy and Procedures for the Loss Mitigation programs.
- Recommend acceptance or denial and negotiate terms of the short sale and mortgage release (deed in lieu) agreements.
- Review financial statements, credit reports, tax returns and paystubs in order to make credit decisions.
- Act as an educator to the borrower(s) on how credit decisions are made.
- Modify Fannie Mae and Freddie Mace existing conventional loans with and without PMI.
6-10 years of experience
- Responsible for assisting existing customers in indentifying alternative methods to minimize default incidents for foreclosure or long term hardship. Method including but not limited to loan modifications, short sales, forbearance plans, repayment plans and Deed In Lieu workouts.
- Responsible for facilitating communication between, the customer, negotiator, investors, insurers, real estate agents, title companies, attorneys and other authorized third parties.
- Responsible for the Loss Mitigation file set up for clients requesting long term assistance by reviewing faxed copies of client’s financial information, i.e. paystubs, profit and loss statements, bank statements, credit reports, 4506- T, Tax Returns, W-2’S, HUD1, purchase contract, listing agreements and hardship letters.
- Responsible for communicating with the customer and authorized parties to advised of missing or requested information and forwarding this information to the negotiator for final review.
- Responsible for working assigned loans in Clarifire Dashboard.
- Communicate final decision to the client.
- Responsible for setting up the file for Loss Mitigation workout, i.e. Modifications, Short-Sales, Deed in Lieu’s, Partial Claims, and Forbearance Plans, when it is determined the client has a long term hardship.
6-10 years of experience
Assist borrowers over the phone to find solutions to maintain home ownership or liquidation.
- Work with defaulted borrowers, investors, and insurers to avoid the foreclosure and mitigate loss in accordance with all federal, state and local regulations, investor/insurer and SunTrust policies and procedures.
- Compile a complete file to submit to underwriting, analyze housing credit and income information, identify and recommend options for borrowers, and notify borrowers of decisions, current status, options, and timelines, throughout the process.
- Perform a variety of mortgage loan documentation and call duties on moderately complex loans, using comprehensive knowledge of loss mitigation policies and procedures for loan products.
0-5 years of experience
- Evaluating and advising borrowers on workout solutions based off income and hardship.
- Assisting borrowers through loan modification paperwork and trial process.
- Guiding borrowers through short sale and deed in lieu process when home retention is not possible.
- Utilizing time management skills between handling personal accounts and inbound/dialer calls.
0-5 years of experience
- Analyzed financial documentation to determine the most effective Loss Mitigation alternative.
- Corresponded directly with customers, brokers, title companies, and attorneys in order to facilitate delinquency resolution through Loss Mitigation consultation and collection efforts to avoid foreclosure.
- Prepared necessary documentation to complete repayment plans, forbearance plans and loan modification agreements in accordance with investor/insurer guidelines.
- Responsible for interpreting financial documents, including but not limited to: Federal and state tax returns, credit reports, mortgage applications and loss mitigation workout packages.
- Analyzed appraisals and broker price opinions.
- Analyzed borrower request for assistance which may include various workout options depending on the borrowers intent to retain or liquidate the property and investor guidelines.
- Maintained a thorough knowledge of the foreclosure laws.
- Maintained a thorough knowledge of the investor and insurer policies and procedures for bankruptcy, foreclosure and loss mitigation.
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[Loss Mitigation Specialist]
Last edited by: Gabriela Barcenas, CPRW, Content Writer II -
Gabriela Barcenas
CPRW, Content Writer IIGabriela is a Certified Professional Resume Writer (CPRW) and career adviser. With 10 years of digital media experience and five years of resume writing expertise, her publication history includes fashion, education, travel, social justice, equitable design and career advice.
