Analyst, Loss Mitigation
Summary PenFed is hiring an Analyst, Loss Mitigation. The incumbent’s primary responsibility is to analyze borrowers for loss mitigation resolutions that will include consumer and real estate products. This position will assist the borrowers with reviewing their information submitted to determine a complete file was received based on policy. The incumbent will also sort and distribute mail, review documents for completion and prepare correspondence. This position works under general supervision and has internal contact with other departments and external service providers. Essential Functions Reasonable accommodations may be made to enable individuals with disabilities to perform the essential functions. This is not intended to be an all-inclusive list of job duties and the position will perform other duties as assigned.
Analyzes and collects information regarding a borrower's financial situation to determine/recommend if a change in rate/terms or product would help alleviate member’s situation.
Sort and distribute incoming mail received and respond financial hardship related correspondence and answer member inquiries.
Submit request for approval to MI company.
Review flood certificates, title and collateral value assessments for accuracy
Notify the member of the underwriting decision and any outstanding conditions required.
Follow up promptly with any title or recording issues that have been detected during the loan modification process.
Prepare all correspondence to borrower(s), such as offer letters, Adverse Action letters, and e-mails efficiently and in a timely manner.
Review real estate applications, including consumer hardship applications as needed.
Maintain working knowledge of internal policies and procedures and external regulations, including federal and state, which affect the department.
Participate in related special projects.
Record all activity/interaction with member in the appropriate system.
Associates degree or a combination of education and experience that provide the necessary skills and knowledge to satisfactorily perform the essential job functions.
Minimum 2 years work experience as a loss mitigation specialist, loan officer or mortgage underwriter required
Strong oral and written communications skills are required
Strong analytical and qualitative skills, required
National Mortgage Origination License required
Must be self –motivated with ability to work in a fast paced decision making environment
Familiar with PenFed consumer and real estate products, preferred
Good understanding of mortgage loan servicing functions and consumer and real estate collections, preferred.
Must possesses good time management and organizational skills
Must be able to communicate effectively with member & other departments.
Knowledge of Policy & Procedures for all investor guidelines.
Must know how to calculate ratios; read tax returns, calculate income from all sources and expenses
Must be capable of setting priorities and working under pressure with minor supervision.
This position will not supervise employees.
There are no additional licenses or certifications required for this position.
While performing the duties of this job, the employee is regularly exposed to an indoor office setting with moderate noise.
Local travel to various worksites is required.
- Customer/Client Focus.
- Ethical Conduct.
- Personal Effectiveness/Credibility.
- Interpersonal Skills
- Oral Communication Skills
- Problem Solving Skills
- Ability to Maintain Confidentiality
- Written Communication Skills
- Quality control
- Safety and Security