Loss Mitigation Coordinator

Make a strategic move and join the 3rd fastest growing Mortgage Lender in the country! Mortgage Lenders Network is a privately held, full service mortgage banking company. We provide an impressive list of industry leading mortgage products both directly to the consumer and through the mortgage brokerage community.Our culture encourages employees to seek out the best way to get things accomplished and allows the freedom to make decisions that directly impact the performance of the company. Employee contributions are acknowledged and rewarded. As Mortgage Lenders Network continues to grow, we seek solid candidates with an entrepreneurial spirit and an interest in growing and expanding their careers with us!
We provide the tools and training you'll need to succeed, including our own MLN University, and comprehensive, competitive benefits programs for employees and their families. We are committed to equal employment opportunity and encourage an environment that promotes the understanding of and an appreciation for the value of diversity within the organization and our customer and vendor base.Following established guidelines, handles a portfolio of defaulted loans and mitigates losses by negotiating with mortgagors, investors and realtors to develop and implement appropriate resolutions to avoid foreclosure. Utilizes creativity to determine most appropriate method for resolving accounts. Develops and presents analyses to justify mitigation of losses. Maintains required files and records1. Contacts mortgagors and others as appropriate to negotiate and arrange appropriate resolution of defaulted loans. Utilizes creativity in determining and recommending alternative collection or loss mitigation methods such as deed-in-lieu, short sale, refinance or sale of note, in most cost-effective manner possible.
2. Develops/presents analyses that support mitigation of losses.
3. Implements approved alternative collections or loss mitigation methods.
4. Maintains required records (e.g., insurance, taxes, appraisals, credit information, payment applications, etc.) and files (e.g., legal files, pre-foreclosure short sales, pre-foreclosure deed-in-lieu of foreclosure, etc.) following established protocols.
5. Remains abreast of laws and requirements of each state for assigned portfolio.
6. Prepares/submits required reports.
REQUIREMENTS
Education:
High school diploma
Experience/Training:
Minimum two years collections, default servicing and/or loss mitigation experience required
Skills:Basic knowledge/understanding of mortgage banking, collections and foreclosure procedures; strong negotiation and analytical skills; effective listening/communication skills; effective decision-making skills; professional phone etiquette. Basic knowledge/skill of the following (or comparable): Desktop: Windows 95/NT; Office applications: Microsoft Word & Excel; Loan Servicing applications: Alltel