HELOC Loss Mitigation Rep I

Responsibilities: The primary responsibility of this individual is to manage a portfolio of loans seeking assistance through loss mitigation workouts. The Loss Mitigation Representative will work directly with investors, borrowers, real estate agents, closing agents and attorneys in an effort to mitigate losses to the company and investor while providing acceptable workout options to borrowers in financial distress. Provide default counseling to all borrowers seeking an alternative to foreclosure. Review and underwrite financial Information including credit reports, financial statements, W-2's, tax returns and paystubs to determine the borrower's ability to pay on the liability. Ordering and reviewing property valuations and updated title reports to determine lien position and equity in the home. Develop Innovative workout options to assist in reducing organizational loss. Produce promissory notes as well as deficiency letters as directed by investors while filing accurate loss mitigation modification and special forbearance claims to Government Agencies. Coordinate closing document preparation with all parties for accepted short sale offers. Audit closed workout files to ensure necessary documents are included and Investor / Insurer approval terms are met.