The Role
Collects, scans, indexes, and validates borrower loss mitigation documents, manages inbox communications, requests third-party reports, updates servicing system, sends notifications, and ensures regulatory and investor compliance.
Summary Generated by Built In
Job Summary & Responsibilities
Preferred Qualifications
Jenks, OK – Gateway First Bank’s Mortgage Loss Mitigation Specialist I interacts with customers via email to complete their loss mitigation packets for final review. Excellent written communication and experience handling documents required. This person will love to solve problems and delight in accuracy and possess a collaborative and adaptable spirit as the mortgage industry will keep you on your toes with frequent regulatory changes!
Mortgage Loss Mitigation Specialist I JOB SUMMARY:
The Loss Mitigation Specialist I is responsible for the collection of documents within the required timelines set by investor/insurer to review for assistance before assigning for review.
Mortgage Loss Mitigation Specialist I ESSENTIAL FUNCTIONS (RESPONSIBILITIES):
* Maintains the Solutions Inbox for all Fax and email communications from external/internal customers and investor/insurer.
* Maintains the Solutions Inbox for all Fax and email communications from external/internal customers and investor/insurer.
* Performs all written correspondence between the borrowers, investor, insurer, subordinate lien holders, real estate agents, consumer credit counselling services, and 3rd party vendors.
* Prepares, scans, and indexes all Loss Mitigation intake documents as required.
* Reviews Customer Solution application to ensure all required documents are provided, signed as needed, and legible before assigning SPOC for review.
* Makes outbound calls as needed to collect required documentation to complete solution package.
* Requests credit reports, escrow analysis, valuations title, and insurer/investor documents to facilitate the review.
* Declines files as directed in accordance with departmental guidelines as set forth by investor/insurer guidelines and sends appropriate denial letter if borrower does not return additional documents or appeal documents by deadline.
* Requests additional documents and sends notifications and acknowledgement letters to borrowers within allotted timeframe to remain in compliance.
* Sorts and distributes incoming Loss Mitigation mail to appropriate team members.
* Scans and uploads all incoming mail from borrowers delivered by USPS, UPS and FedEx and create appropriate follow up CIT's as needed.
* Accurately and timely update servicing system to reflect current status of file.
* Exercises awareness with regard to possible suspicious activity, money laundering or fraudulent behavior and reports any such incidents to the BSA department. Performs all job functions in compliance with all company policies and federal, state, and local laws and regulations as applicable to the position, including, but not limited to BSA/AML, OFAC and GLBA/privacy rules.
* Performs related responsibilities as required or assigned.
Mortgage Loss Mitigation Specialist I REQUIRED QUALIFICATIONS:
Knowledge/Skills/Abilities
* Basic knowledge of loss mitigation program requirements.
* Basic knowledge of loss mitigation policies, practices, and procedures.
* Proven problem-solving skills.
* Organized and task oriented.
* Proficient in Microsoft Office applications.
* Ability to collect and analyze information with attention to detail.
* Ability to manage multiple tasks, projects, deadlines, and work in team environment.
* Exemplifies the Gateway Values: Stay Growth Oriented, Make a Difference, "Get it Done" Attitude, Be a Team Player, Do the Right Thing.
* Basic knowledge of loss mitigation program requirements.
* Basic knowledge of loss mitigation policies, practices, and procedures.
* Proven problem-solving skills.
* Organized and task oriented.
* Proficient in Microsoft Office applications.
* Ability to collect and analyze information with attention to detail.
* Ability to manage multiple tasks, projects, deadlines, and work in team environment.
* Exemplifies the Gateway Values: Stay Growth Oriented, Make a Difference, "Get it Done" Attitude, Be a Team Player, Do the Right Thing.
Equivalent Education/Experience
* High School diploma or equivalent.
* 0-2 years of related collections/Loss Mitigation experience.
* Prefer related experience in mortgage servicing.
* High School diploma or equivalent.
* 0-2 years of related collections/Loss Mitigation experience.
* Prefer related experience in mortgage servicing.
Mortgage Loss Mitigation Specialist I SPECIAL JOB DIMENSIONS:
Work involves dealing with sensitive confidential information, plus occasional overtime and up to 10% travel may be required.
NOTE: The essential job functions and associated qualifications contained in this document describe the general nature and level of the work performed. They are not intended to represent an exhaustive listing or be inclusive of all aspects of the job. The tasks and procedures involved in the performance of the essential job functions may vary from day-to-day. Major changes in areas of responsibility may occur, as directed by management, and will require revision of this job description.
Skills Required
- Basic knowledge of loss mitigation program requirements
- Basic knowledge of loss mitigation policies, practices, and procedures
- Proven problem-solving skills
- Organized and task oriented
- Proficient in Microsoft Office applications
- Ability to collect and analyze information with attention to detail
- Ability to manage multiple tasks, projects, deadlines, and work in team environment
- Exemplifies company values (team player, integrity, growth oriented)
- High School diploma or equivalent
- 0-2 years of related collections/Loss Mitigation experience
- Related experience in mortgage servicing
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The Company
What We Do
Gateway is a leading financial institution headquartered in Jenks, Oklahoma, dedicated to strengthening families and communities. It provides personalized banking and mortgage solutions and is one of the largest financial institutions in Oklahoma, with assets exceeding $2 billion and a strong national mortgage presence through over 70 locations across the country.
