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.
- Oversees the staging of acquired loans through service transfers
- 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 2nds 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
- One to two years related experience and/or training
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.
Ability to work with mathematical concepts such as probability and statistical inference, and fundamentals of plane and solid geometry and trigonometry. Ability to apply concepts such as fractions, percentages, ratios, and proportions to practical situations.
Ability to solve practical problems and deal with a variety of concrete variables in situations where only limited standardization exists. Ability to interpret a variety of instructions furnished in written, oral, diagram, or schedule form.
Certificates, Licenses, Registrations
Physical Demands :
The physical demands described here are representative of those that must be met by an employee to successfully perform the essential functions of this job. Reasonable accommodations may be made to enable individuals with disabilities to perform the essential functions. While performing the duties of this job, the employee is frequently required to sit and talk or hear. The employee is occasionally required to stand; walk; use hands to finger, handle, or feel; and reach with hands and arms. The employee must occasionally lift and/or move up to 25 pounds.
The work environment characteristics described here are representative of those an employee encounters while performing the essential functions of this job. Reasonable accommodations may be made to enable individuals with disabilities to perform the essential functions. The noise level in the work environment is usually moderate.
This job description does not list all the duties of the job. You may be asked by your supervisors or managers to perform other duties. You will be evaluated in part based upon your performance of the tasks and functions listed in this job description. The employer has the right to revise this job description at any time. The job description is not a contract for employment, and either you or the employer may terminate employment at any time, for any reason.
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’re focused on upskilling, achieving, and celebrating.Learn More
We run huge company-sponsored donation events and contests, as well as offer paid volunteer time so you can commit your support to the causes which you care about most.Learn More
Holidays and paid time off
We offer ample paid time off including multiple paid holidays — because your downtime and well-being are just as important to us as your time in work mode.Learn More
Our salaries are competitive — rewarding your experiences, contributions, and hard work. We also have a 401K plan which provides a matching contribution.Learn More
We offer several medical benefits plans and options to choose from including dental, vision, disability and life insurance, dependent care and flexible spending.Learn More
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.Learn More
· Perform various functions on mortgage servicing system, including but not limited to, review/clear assigned tasks within required timeframes; document required notations; monitor vendor ta…
The Supervisor, Loss Mitigation - Business Process Analyst will be responsible, directly or through staff, for protecting the assets of the company in bankruptcies, repossessions and other legal proceedings. This position plans, directs, s…
Soar with Us Flying ahead of the flock for over 30 years, we at Freedom Mortgage have taken millions of Americans under our wing and helped them achieve their dreams of financial betterment and homeownership. Th…
Soar With Us Flying ahead of the flock for over 30 years, we at Freedom Mortgage have taken millions of Americans under our wing and helped them achieve their dreams of financial betterment and homeownership. This …
Summary: The Supervisor of Default Servicing Operations/CWCOT will be responsible for the day-to-day activities related to auction strategies and successful sales of our CWCOT (Claims Without Conveyance of Title…
Summary The Loss Mitigation Supervisor will be responsible, directly or through staff, for protecting the assets of the company in bankruptcies, repossessions and other legal proceedings. This position plans, di…
Servicing Supervisor - Single Point of Contact Soar With Us Flying ahead of the flock for over 30 years, we at Freedom Mortgage have taken millions of Americans under our wing and helped them achieve thei…
The Director of Default Change Control will report to the VP of Default Business Controls and work closely with the internal operational departments as well as external vendors. The primary responsibility is ensuring a structured environm…
The Mortgage Claims Specialist / Conventional & USDA is responsible for filing all Fannie Mae (FNMA), Freddie Mac (FHLMC), and Mortgage Insurance (MI) within investor/insurer timeframes and follow-up on all claim proceeds. In addi…