Lead Loss Mitigation Underwriter (remote possible)

Who We Are

ServiceMac is a new sub-servicing entity backed by some of the leading practitioners of the mortgage servicing industry. ServiceMac is focused on providing superior technology, products, and services for the mortgage and real estate industries backed by highly personalized service and support. Through continuous innovation and acquisition, our offerings comprise of personalized solutions that span the mortgage continuum and enhance security, compliance, customer satisfaction, and profitability. Our inclusive, people-first culture has earned our company numerous accolades, including being named to the Fortune 100 Best Companies to Work For® list for ten consecutive years. We have also earned awards as a best place to work for women, diversity and LGBTQ+ employees, and have been included on more than 50 regional best places to work lists. First American will always strive to be a great place to work, for all.

What We Do

Reviews and evaluates applications, renewals, re-pricings, restrictions, and cancellations to determine risk acceptability and coverage. Calculates borrower’s income and expenses to a high standard of accuracy. Manages a caseload of files including all steps necessary from application to modification. Updates and notates system of record and investor portals. Operates according to standard operating procedures and all government and investor regulations. Achieves goals and objectives with a focus on quality of service and improving the customer experience, while not causing unwarranted delays to processes or defaults.

Essential Functions

• Acts as the team’s resource and subject matter expert to answer questions and create resolutions using experience, best practices, and sound judgment
• Assists in scheduling and coordinating team activities
• May provide input into hiring and performance appraisals, but does not make hiring decisions or conduct performance evaluations
• Troubleshoots and guides others on wide variety of complex problems and identifies solutions within broad application and functional expertise
• Reviews and evaluates policy applications, renewals, re-pricings, restrictions, and cancellations to determine risk acceptability and coverage.
• Reviews loss mitigation package documentation to determine if the homeowner qualifies for a loss mitigation option. Reports information to the investor, client, and insurer.
• Educates homeowners about loan modification programs, forbearance plans, repayment plans, short sales, and deeds in lieu options.
• Calculates income, expenses, and escrow advances in accordance with departmental and investor/insurer/client guidelines.
• Orders and reviews title searches and BPO/AVM/appraisals.
• Reviews and implements according to investor/client/insurer guidelines for loan modifications, forbearances and repayment terms, short sales, and deeds in lieu.
• For short sales, reviews marketing strategies, listing history, offer activity. Resolves counter offers in accordance with departmental procedures and investor/insurer/client guideline.
• Requests and follows up on foreclosure holds.
• Submits loss mitigation requests to investor/client/MI for approval.
• Declines files as directed in accordance with departmental procedures as set by investor/client/investor/insurer guidelines and sends appropriate denial letter if homeowner does not qualify for a workout option.
• Prepares and sends trial period documents, forbearance plan documents, repayment plan agreements, short sale approval and closing letters and decline letters as.
• Monitors status of repayment plans, forbearance plans, and trial period plans and update MSP system and investor system of record with payment records as needed.
• Contacts homeowners and real estate agents to provide status of loss mitigation files.
• Manages written and verbal correspondence between the homeowners, client, investor, insurer, subordinate lien holders, real estate agents, consumer credit counseling services, and foreclosure attorneys.
• Actively contributes to the results of a team and works toward achieving goals and objectives.

Job Complexities & Impact

• Assignments are broad and complex in nature requiring originality and ingenuity
• Operates with latitude for un-reviewed action or decision and has ability to evaluate matters which may have impact on the conduct of the department’s business
• Decisions often require the review of multiple factors but are made within scope of company/department policies

Supervision Received or Extended

• Typically, does not have formal supervisory responsibility but provides guidance, mentoring and leadership to less experienced team members
• May assign tasks and monitor work flow
• Sets own priorities; relies on experience and judgment to plan and accomplish goals
• Works under general supervision applying well established techniques, procedures or specific standards
• Sets objectives for project goals and monitors project to achieve those goals
• Uses expertise of peers and team members and leverages additional resources to drive process improvement

Knowledge and Skills/Technology Used

• Demonstrated leadership, organizational and problem-solving skills
• Exercises confidence, sound judgment, and independent decision-making skills
• Ability to understand and execute policy and procedures
• Emerging leader skills
• Establishes effective working relationships at the work group level
• Drives enhancements to department processes and procedures through regular recommendations
• Project management skills
• Strong communication skills, both verbal and written
• Strong analytical and research skills; Detail oriented
• Proficient in MS Office
• Negotiation skills
• Strong knowledge of fundamental concepts, practices, and procedures of department/field
• Knowledge of Black Knight MSP system
• Knowledge of Consumer Finance Protection Bureau (CFPB) and Fair Debt Collection Practices Act (FDCPA) guidelines
• Risk assessment skills
• Organized and self-motivated with ability to meet strict deadlines
• Persuasive and professional communication skills

Typical Education

• High School diploma or equivalent required
• Some college preferred

Typical Range of Experience

• Typically 4 - 6 years of directly related experience and demonstrated leadership experience

Disclaimer

The above statements are intended to describe the general nature and level of work being performed by people assigned to this classification. They are not to be construed as an exhaustive list of all responsibilities, duties, and skills required of personnel so classified. All personnel may be required to perform duties outside of their normal work hours and/or responsibilities from time to time, as needed. 

What We Offer

By choice, we don’t simply accept individuality – we embrace it, we support it, and we thrive on it! Our People First Culture celebrates diversity, equity and inclusion not simply because it’s the right thing to do, but also because it’s the key to our success. We are proud to foster an authentic and inclusive workplace For All. You are free and encouraged to bring your entire, unique self to work. First American is an equal opportunity employer in every sense of the term.

Based on eligibility, First American offers a comprehensive benefits package including medical, dental, vision, 401k, PTO/paid sick leave and other great benefits like an employee stock purchase plan.

Pay Range: $30.91 - $41.20 Hourly, Remote

This hiring range is a reasonable estimate of the base pay range for this position at the time of posting. Pay is based on a number of factors which may include job-related knowledge, skills, experience, business requirements and geographic location.