Primary Function

The Loss Mitigation Fulfillment Specialist II is responsible for maintaining timely processing for all administrative aspects of Loss Mitigation Fulfillment workflow to ensure accurate programs are calculated, accounted for, and documented within the servicing system according to Investor guidelines, to include all production of Modifications, Partial Claims, Deferments, and any other applicable Loss Mitigation Workout programs. Performs underwriting, document intake, modification processing, and recordation as required by various jurisdictions, processing pre-foreclosure evaluations, and providing a second look review for any denied workout and performing reviews for any in-flight workouts for transferred loans.

Principal Duties

• Timely creation of accurate financial terms according to individual investor program guidelines to produce final Modification, Partial Claim, and Deferment documents to be sent to homeowners

• Underwriting based on qualifying investor criteria to certify approvals for modifications

• Calculate modification terms according to various investor rules and waterfalls

• Perform QC to ensure mathematical calculations for capitalization and new loan terms are accurate

• Timely intake and system documentation of Modification, Partial Claim and Deferment documents received

• Provide instruction to Cash department with specifics for booking Modifications, Partial Claims and Deferments and ensure all terms are correctly updated within the servicing system

• Process Settlements for Modifications and Deferments in GSE systems within required timeframes

• Facilitate loan buyout from GNMA pools, when necessary, prior to any modification of loan terms according to GNMA guidelines

• Perform pre-foreclosure reviews for qualifying accounts to ensure all reasonable efforts to avoid foreclosure have been met according to regulatory guidelines

• Produce Loss Mitigation Certification documents when required for Foreclosure actions to proceed

• Perform Pre-sale reviews prior to foreclosure sale and provide documentation thereof

• Send Modification documents to the appropriate jurisdiction for recording within required timeframes

• Review and remediate county recording rejections to record modification documents and obtain title policy

• Send recorded collateral documents to document custodian once recorded within investor guidelines

• Perform review to ensure proper status for any in-flight transferred loan

• Performs related duties as assigned by management.

Education and Experience Requirements  

• A 4-year college degree in Business Administration or another analytical field preferred

• Minimum of 2 years’ experience in Mortgage Servicing or an Accounting field  

Knowledge, Skill, and Ability Requirements 

• Excellent Mathematical Skills

• Detailed knowledge of Loss Mitigation program guidelines

• Proficient with Microsoft Excel, Word

While this description is intended to be an accurate reflection of the position’s requirements, it in no way implies/states that these are the only job responsibilities. Management reserves the right to modify, add or remove duties and request other duties, as necessary.