Dovenmuehle Mortgage, Inc.
Job Title: Underwriter/Specialist Department: Loss Mitigation
Reports to: Manager, Asst. Mgr. FLSA Status: Non-Exempt
The primary responsibility of the Loss Mitigation Department is to reduce the loss to the investor and the homeowner and to make every attempt to prevent a loan from going into foreclosure.
The Specialist is responsible for thoroughly reviewing and assessing the Loss Mitigation application and verify whether the homeowner/mortgagor has a legitimate hardship situation in order to determine the best workout option available for the homeowners/mortgagors. To mitigate potential losses on delinquent loans by using various workout alternatives, i.e.: trial/forbearance/repayment plan agreements, modifications, pre-foreclosure sales (short sales) and Deed-in-Lieu of Foreclosure.
ESSENTIAL DUTIES AND RESPONSIBILITIES include but not limited to the following:
· Manage individual pipeline of loans and maintain timely and compliant process to the standards set forth by compliance or regulators.
· Evaluate borrow application packages to determine the financial circumstances of a borrower, capacity, and ability to pay.
· Reconcile sources of income, tax returns, and balance sheets/statements, and credit bureau reports. Evaluate property valuations and/or appraisals to determine beneficiary’s equity position and assure adequate collateral of the security instrument is maintained.
· Negotiate terms of the various workout alternatives with mortgagors, real estate brokers, attorneys, MI companies, government agencies, and clients. Monitor loans for payment receipt and borrower performance during agreed upon trial plan period, forbearance plans, or repayment plan arrangements.
· Assist teams within the department to perform all other responsibilities and duties deemed necessary.
· Act in a professional manner with clients/peers to successfully achieve department & company goals.
Bachelor's degree or equivalent preferred.
3+ years Mortgage Underwriting experience.
Familiar with different agencies requirements and waterfall guidelines for various loan types. (FNMA/FHLMC, FHA/VA/GNMA, Private Portfolio)
Hold an understanding of mortgage documentation and processes of loss mitigation, bankruptcy, and foreclosure processes
Strong communication, interpersonal, and organizational skills required.
Ability to handle high volume and multi-task effectivelyb.
Job Type: Full-time
Pay: $22.00 - $24.00 per hour
- 401(k) matching
- Dental insurance
- Disability insurance
- Flexible spending account
- Health insurance
- Health savings account
- Life insurance
- Paid time off
- Referral program
- Vision insurance
- 8 hour shift
- Monday to Friday
- Underwriters: 2 years (Preferred)
- Remote interview process
- Temperature screenings
- Social distancing guidelines in place
- Sanitizing, disinfecting, or cleaning procedures in place