The Loss Mitigation Manager – Loss Mitigation is responsible for the oversight and compliance of the loss mitigation process (processing, underwriting, closing) of all workouts. In addition, this position is responsible for loss mitigation claims to be filed to the investor/insurer as well as any 2 nd look process on denied decisions and mediations.
Essential Job Functions:
- Manages timeline and quality decisions made by the loss mitigation team.
- Manages timely and accurate investor/insurer claim filing on loss mitigation files.
- Oversees the 2 nd look process to review denied modification workouts prior to a final decision being communicated to our borrowers.
- Works closely with Default Reporting for the timely and accuracy of the 1099 A's and C's that need to be sent to our borrowers and filed with the IRS due to the completion of loss mitigation files.
- Manages strategy of maximizing the solicitation of loss mitigation with our borrowers.
- Manages foreclosure referral's and adhering to the investor, insurer and CFPB guidelines.
- Attends mediation hearings with the various courts to ensure workout options have been exhausted.
- Handles charge offs for 1 st and 2 nd liens. This will be accomplished by working with the other leaders in the default group.
Other Related Duties:
- Performs other related duties as assigned.
Manages staff and carries out supervisory responsibilities in accordance with the organization's policies and applicable laws. Responsibilities include interviewing, hiring, and training employees; planning, assigning, and directing work; appraising performance; rewarding and disciplining employees; addressing complaints and resolving problems
To perform this job successfully, an individual must be able to perform each essential function satisfactorily. The requirements listed below are representative of the knowledge, skill, and/or ability required. Reasonable accommodations may be made to enable individuals with disabilities to perform the essential functions of the job.
Education and/or Experience:
- Bachelor’s Degree (B.A.) from a four-year College or University;
- HS Diploma/GED required
- One (1) to two (2) years related experience and/or training
- Previous supervisory experience
- Experience and/or knowledge of the mortgage industry preferred, but not required
- Promote a positive workplace supportive of company goals and objectives.
- Set goals, drive results and properly reward/addresses performance.
- Develops and analyzes management reports for the purpose to ensure all production and quality goals are met.
Ability to read, analyze, and interpret general business periodicals, professional journals, technical procedures, or governmental regulations. Ability to write reports, business correspondence, and procedure manuals. Ability to effectively present information and respond to questions from groups of managers, clients, customers, and the general public.
Career development and advancement
Working at Freedom, you have the chance to invest in yourself. From on-the-job training to advancement opportunities, and from tuition assistance to our annual internal leadership conference.
We run huge company-sponsored donation events and contests, as well as offering paid volunteer time so you can commit your support to the causes which you care about most.
Holidays and paid time off
We offer ample paid time off including multiple holidays - because our team is our family, and your downtime and wellbeing are just as important to us as your time in work-mode.
Our salaries are competitive - rewarding your experience, hard work, and commitment. We also have a 401K plan which provides a matching contribution.
We offer several medical plans and options to choose from including dental, vision, disability and life insurance, dependent care and flexible spending.
Pets are part of the family too! We offer comprehensive vet insurance to make sure your cats are cared for, your pups are prioritized, and your lizards looked-after.
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