Loss Mitigation Specialist Job Description

The Loss Mitigation Specialist job description is a good fit for a candidate who has experience in mortgage lending or customer service and has a passion for helping people. This job requires strong communication, negotiation, and problem-solving skills, as well as a comprehensive knowledge of the mortgage industry and regulations. 

To customize this job description for your own needs, you can tailor the preferred qualifications and experience based on the specific needs of your organization. You can also emphasize any unique job responsibilities or requirements that are specific to your company or industry. This will help you attract the perfect candidate who meets your specific requirements and fits well with your organizational culture.

Job Description Brief:

We are seeking a competent Loss Mitigation Specialist to support our clients who may be struggling to maintain mortgage payments. The successful candidate will strive to keep borrowers in their homes while minimizing financial losses for the lender. The ideal candidate will have a passion for helping people and a comprehensive understanding of the mortgage industry and regulations.

Key Responsibilities:

• Engage with borrowers to determine the cause of mortgage delinquency and implement viable solutions.
• Develop and negotiate loan modification and repayment plans with borrowers to avoid foreclosure.
• Coordinate and communicate with lenders, attorneys, and other parties to ensure timely processing and resolution of service requests.
• Communicate complex financial concepts to borrowers in simple terms, ensuring understanding of implications and obligations.
• Analyze financial documentation and credit history and assist in determining appropriate solutions.
• Facilitate sales of properties where loss of property is unavoidable.
• Work within established guidelines for loss mitigation transactions.
• Maintain complete and accurate electronic files for all assigned files
• Perform other related duties and special projects as assigned.
• Meet all compliance and regulatory obligations

Required Qualifications and Skills:

• Bachelor’s degree in a relevant field or equivalent experience
• Previous experience in loss mitigation or mortgage lending is preferred.
• Strong analytical and evaluation skills
• Excellent communication and negotiation skills
• Knowledge of federal regulations pertaining to mortgage lending
• Strong organizational and problem-solving skills
• Ability to work under deadlines and manage multiple priorities
• Proficient in the use of Microsoft Office (Word, Excel, Outlook)

Education and Experience Requirements:

• Bachelor’s degree in a relevant field or equivalent experience
• 2+ years of experience in mortgage lending or loss mitigation

Physical Requirements (If Applicable):

• Must be able to sit and use a computer for extended periods of time.

Work Schedule and Conditions (If Applicable):

• Full-time position with standard business hours.
• Work may be performed remotely or in-office depending on company policy.

Compensation and Benefits:

• Salary commensurate with experience
• Medical, dental, and vision insurance
• 401(k) plan with employer match
• Paid time off and holidays

Company Culture and Values:

• Our company values honesty, integrity, and a strong work ethic.
• We strive to provide a positive work environment and foster growth and development among our employees.

Career Advancement Opportunities:

• Opportunities for advancement are available within the organization based on performance and experience.

Application Process and Contact Information:

Qualified candidates should submit a resume and cover letter to the contact email provided on our company website. We will review all applications and notify candidates who meet our requirements within two weeks.