Analyst, Loss Mitigation

Location
Alexandria , Virginia
Posted
Mar 02, 2017
Closes
May 17, 2017
Ref
4563
Function
Analyst
Hours
Full Time
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.
Ability to handle other assignments as assigned. Work closely with credit loss mitigation processor(s). Respond to all incoming hardship apps with 5 Day letter acknowledging and/or requesting additional info. Prepare all correspondence to borrower(s), such as offer letters, Adverse Action letters, and e-mails efficiently and in a timely manner. Maintain a Pipeline of up to 50 loans. Underwrite all real estate and consumer loans according to credit union policy, investor guidelines & CFPB requirements

Education and Experience

Equivalent combination of education and experience is considered.

    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. 
Supervisory Responsibility

    This position will not supervise employees.
 

Licenses and Certifications

    There are no additional licenses or certifications required for this position.
 

Work Environment

    While performing the duties of this job, the employee is regularly exposed to an indoor office setting with moderate noise.
Travel

    Local travel to various worksites is required.
Competencies – To perform the job successfully, an individual should demonstrate the following competencies to perform the essential functions of this position.

 

  1. Customer/Client Focus.
  2. Ethical Conduct.
  3. Personal Effectiveness/Credibility.
  4. Interpersonal Skills
  5. Oral Communication Skills
  6. Problem Solving Skills
  7. Ability to Maintain Confidentiality
  8. Written Communication Skills
  9. Quality control
  10. Dependability
  11. Safety and Security
  12. Adaptability
  13. Planning/Organizing
About Us

Founded in 1935, and still growing, we began as the War Department Federal Credit Union.  Today, PenFed is one of the country’s strongest and most stable financial institutions with over 1.5 million members and over $21 billion in assets.  We serve members in all 50 states and the District of Columbia, as well as on military bases in Guam, Puerto Rico and Okinawa. 

Our mission isn’t simply to help our members get by. We exist to help them realize every ounce of their potential. We exist to educate, and to encourage. We exist to usher their dreams into the land of reality.

We provide our employees with a lucrative benefits package including robust medical, dental and vision plan options, plenty of paid time off, 401k with employer match, on-site fitness facilities at our larger locations, and more.

PenFed is an Equal Opportunity Employer

PenFed will maintain and observe personnel policies which will prohibit discrimination or harassment against a person because of race, color, creed, age, sex, gender, religion, national origin, ancestry, genetic information, military or veteran status or obligation, the presence of a physical and/or mental disability and all other statuses protected by applicable state or local law in all recruiting, hiring, training, compensation, overtime, position classifications, work assignments, facilities, promotions, transfers, employee treatment, and in all other terms and conditions of employment.  PenFed will also prohibit retaliation against individuals for raising a complaint of discrimination or harassment or participating in an investigation of same.

PenFed will also reasonably accommodate qualified individuals with a disability so that they can apply for a job or perform the essential functions of a job unless doing so causes a direct threat to these individuals or others in the workplace and the threat cannot be eliminated by reasonable accommodation or if the accommodation creates an undue hardship to PenFed. Contact human resources (HR) with any questions or requests for accommodation at 703-838-1568.