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Loss Mitigation Coordinator

Stevens Point, WI 54481

Posted: 06/16/2021 Employment Type: Contract Job Number: 36469 Pay Rate: 18.00

Job Description

  • Under limited supervision, initiate loss mitigation and work out resolutions with the borrower, investor, and PMI companies on real-estate and consumer loans.
  • Monitor and maintain accurate account information on all accounts and initiate legal action as required.
  • Thoroughly review individual financial statements including a detailed list of monthly bills, taxes/pay stubs, retirement accounts, checking and savings account statements, credit bureaus and hardship letters following the set procedures and guidelines to determine the customer's workout options.
  • Counsel customers on ways to maintain an acceptable budget.
  • Maintain or exceed acceptable goal levels of completed Loss Mitigation cases set by FNMA/FHLMC.
  • Report all completed Loss Mitigation cases for proper credit.
  • Identify through individual detailed financial analysis a recommendation to maximize the revenue, limit charge off, non-accrual, repossession, and foreclosure, while retaining customer satisfaction.
  • Respond, research, resolve, track, report and follow up on Loss Mitigation cases and their outcome.
  • Prepare and issue proper documents to the customer to obtain necessary Loss Mitigation information.
  • Respond promptly to a wide variety of telephone calls, written inquiries and requests.
  • Analyze and determine whether or not the customer is a good candidate for Loss Mitigation.
  • Communicate information and direct documentation to attorneys, title companies, PMI companies, investors and bank customer service personnel to effectively maximize Loss Mitigation opportunities.

  • General banking with knowledge of bank policies, procedures and products required.
  • Collections experience preferred
  • High School Diploma or equivalent
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