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Loss Mitigation Underwriting Escalations Specialist - WFH Nationwide

Company: Flagstar Bank
Location: Fort Collins
Posted on: June 12, 2021

Job Description:

Position Title

Loss Mitigation Underwriting Escalations Specialist - WFH Nationwide


Work From Home United States

Job Summary

The Loss Mitigation Underwriter Escalation Specialist is an advanced subject matter expert and is responsible for determining borrower eligibility for loss mitigation options by performing a complete review of loss mitigation applications and financial documents received from the borrower to ensure accuracy and compliance with regulatory requirements and investor/insurer guidelines. The escalation specialist is a leader on the team and can act as the backup to the underwriting supervisor.

All functions must be completed within the production and quality standards. Role requires utilization and understanding of multiple servicing systems, applications and reporting. Role requires accuracy and attention to detail, strong organization skills, independent problem solving ability and excellent communication skills.

Job Responsibilities:

Process Loss Mitigation Applications through Underwriting Stage. Role requires the ability to perform multiple functions throughout the Loss Mitigation Underwriting process under limited supervision, including:

  • Responsible for resolving complex/complicated exceptions to the standard loss mitigation process
  • Provide consistent communication to the team regarding daily work goals, expectations, and any policy and/or process changes.
  • Oversee daily team operations; provide guidance and direction in daily work flow and volume.
  • Effectively train employees to adhere to the requirements established by default servicing operations
  • Identify potential risks and mitigating factors that could impact a borrowers ability to repay the loan.
  • Review and analyze loss mitigation applications including income and asset statements, credit bureau reports, and other relevant documentation
  • Maintain knowledge of regulatory requirements, investor/insurer guidelines and other relevant timeframes required to determine borrower eligibility for a loss mitigation workout.
  • Responsible to review and analyze loss mitigation applications including income and asset statements, credit bureau reports, and other relevant documentation and also generate timely correspondence to the borrower of their loss mitigation review
  • Monitors loans in process to determine any deviation from standard processing time and to take appropriate actions for alternatives to ensure timely resolution
  • Understand key performance and risk indicators in the Loss Mitigation Process, and how individual role contributes to meeting or exceeding these goals;
  • Maintain and practice sound judgment in all aspects of role


  • Reinforces culture of shared ownership and accountability for results.
  • Collaborating with other default servicing teams, and other internal teams, to assist in the continued development of a best in class default servicing oversight operation.
  • Perform additional responsibilities as assigned by manager.

Job Requirements:

  • Reliable Home High Speed Internet required

  • Required, 8+ years default mortgage financial services experience, required in Loss Mitigation

  • Required, advanced subject matter expertise in Loss Mitigation

  • Preferred, 5+ Years Understanding of Mortgage Servicing and Mortgage Servicing Regulation (TCPA, FDCPA, FCRA) and Regulators (OCC, FRB, CFPB, GSE, HUD)

  • HS Diploma, GED or Foreign Equivalent

  • NMLS license preferred

  • Self-Driven, Personally Accountable Personality

  • Understanding of MS Office Suite with intermediate technical and computer skills. Specifically an ability with Microsoft Excel

  • Ability to navigate quickly within various computer programs.

  • Excellent verbal and written communication skills, as well as strong listening skills

  • Exceptional analytical and problem solving skills with an ability to think quickly under pressure.

  • Ability to handle high production volume and answer customer questions in a timely manner.

  • Ability to look for ways to improve and promote quality.

  • Ability to work independently with limited supervision.

  • Ability to work varying shifts including evenings and weekends.

  • Willingness to work in a team environment

  • Confident and efficient work approach with a customer focus

Internal Use Only: H-Band Hrly

Keywords: Flagstar Bank, Fort Collins , Loss Mitigation Underwriting Escalations Specialist - WFH Nationwide, Other , Fort Collins, Colorado

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