Loss Mitigation Underwriter

Job Description

Job Description

Description :

The Loss Mitigation underwriter’s primary responsibility for daily activities and operations within the Loss Mitigation team are to ensure proper servicing of delinquent investor / insurer owned residential mortgage loan products that results in reduced delinquency levels and reduced losses.

Underwriters will have advanced skills and techniques relative to the loss mitigation underwriting of residential mortgage loans, for the purpose of reducing delinquency / default / foreclosure.

They are fully versed and compliant with all the state and federal regulatory collection and loss mitigation requirements, including but not limited to, the CFPB’s January 2014and 2017 implementation.

At Servbank, it is important to understand each borrower’s personal situation and make appropriate recommendations and arrangements to avoid future default.

This person is a subject matter expert with regards to industry loss mitigation techniques and Regulations. All employees of Servbank, are expected to provide quality customer service and maintain high ethical standards when serving our client.

About Servbank :

Founded in 1994, Servbank is a banking institution with local roots and national reach. We were built on a foundation of community-orientation, which ensures that no matter who we serve, we do so with the human touch that marks the gold standard of service.

We work with individuals, businesses, and communities, so that whether you’re a student, a homeowner, a small business owner, or a community leader, we can help you fulfill your goals.

Come create excellence with Servbank.

Requirements :

• Review applications for completeness and data integrity while updating the data in both the servicing system and proprietary systems where applicable.
• Ensure Loan quality standards are met with a maximum major deficiency percentage of
• Work with internal and external partners to clear conditions in a timely manner
• Analyze and review documentation in file to verify accuracy of application and support underwriting decisions.
• Calculate income based on various types of income documents in the file, review and confirm assets in the file.
• Review and analyze preliminary title work, appraisals (when applicable), and review required Loss mitigation letters.
• Make loan decisions based on the overall repayment ability of the borrower and issue approval and denials based on your review.
• Communicate decisions to all parties involved and build relationships with both internal and external partners.
• Minimum Daily Production Standard
• Decision 9+ file per work day
• Maintain an average of 15 day turn time per file
• Decision files at a 90% or better QA approval level

EEO Statement :

We’re an equal opportunity employer. All applicants will be considered for employment without attention to race, color, religion, sex, sexual orientation, gender identity, national origin, veteran or disability status.