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VP, Loss Mit

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Description

Summary

The Vice President – 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 2nd 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 2nd 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.
  • Ensure we are adhering Investor, Insurer, Federal and State guidelines.
  • Handles charge offs for 1st 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.

Supervisory Responsibilities:

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.


Qualifications:

To perform this job successfully, an individual must be able to perform each essential function satisfactorily. The requirements listed 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:

High school diploma or GED required

Bachelors Degree (B.A.) from a four-year College or University; or one to two years related experience and/or training; or equivalent combination of education and experience.

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