Loss Mitigation Specialist, Short Sales

Guild Mortgage Company, closing loans and opening doors since 1960. As a mortgage banking firm we are dedicated to serving the home owner/buyer. Our goal is to provide affordable home financing for our customers, utilizing the best terms available while providing a level of professionalism and service unsurpassed in the lending industry.

Position Summary

The Loss Mitigation Specialist, Short Sales plays an important role in the organization by performing a variety of activities directly related to the company’s Loss Mitigation functions. The role is responsible for reviewing short sale and/or DIL applications for FHA, VA and conventional packages in a timely manner. He or she verifies completeness in accordance with investor guidelines, company policies, and applicable laws and regulations.

Compensation 

This role is a non-exempt position with a Targeted Salary Range of $20/hr to $28.75/hr.

Compensation at Guild is influenced by a wide array of factors including but not limited to local and federal minimum wage requirements, education, level of experience, and applicant’s geographical location.

Essential Functions

• Collect and evaluate required documentation for incoming short sale packages.
• Review borrower’s financial situation and hardship information to confirm hierarchy has been met.
• Obtain required documentation to meet investor and insurer guidelines.
• Order appraisals and ensure homeowners receive valuation notices and copies of appraisals.
• Verify offers are made in accordance with requirements.
• Submit short sale requests to investors as required by investor guidelines.
• Send all required documents to borrower and escrow to ensure compliance with investor and insurer requirements.
• Correspond with agents, third parties, escrow, title and homeowners.
• Review all wires to ensure investor restrictions are met and approved.
• Prepare and summit variances as needed.
• Submit payoff short sale demands to Title.
• Review incoming short sale wires and process closing steps.
• Cancel Hazard Insurance on completed short sales or deed in Lieus.
• Document all incoming correspondence so that service levels can be monitored to ensure state, investor, and insurer criteria have been met.
• Demonstrate patience and professionalism when interacting with consumers via phone, email, or letter.
• Prepare complete and accurate call notes, written documentation, , and update customer files in system.
• Communicate effectively with individuals/teams to ensure high quality and timely response and resolution to issues.
• Follow Guild’s information security policies.
• Assist with internal and external audit requests.
• Perform other duties as assigned.

Qualifications

• Bachelor's Degree directly related to the position or equivalent, preferred
• Minimum three years' experience total in back-office mortgage servicing experience required.
• Minimum two years' experience in loss mitigation roles.
• Bilingual preferred.
• Working knowledge of mortgage loan documents, including overall processes and inter- relationships, standards and requirements, terminology, compliance and regulatory requirements related to federal debt collection laws, Federal Bankruptcy Laws, and proper handling of other legal situations.
• Knowledge of Standard Operating Procedures, CFPB, FCRA and FDCPA preferred.
• Strong interpersonal and problem-solving skills.
• Highly organized and detail oriented; ability to work in a fast-paced, department-metrics-driven environment required.
• Basic math skills required.
• Familiarity with document retention software; Blitzdoc preferred.
• 10-key by touch strongly preferred.
• Excellent verbal and written communication skills required.
• Highly organized and detail-oriented; ability to work in a fast-paced, metrics-driven environment required.
• Proficiency in Microsoft Office Suite, Word, Excel, Wiki, collaborative cloud-based programs, and third-party software applications required.
• Commitment to company
• Customer Service - Proactive attention to each person
• Integrity - Do and say what's right
• Respect - Treat others with dignity
• Collaboration - Listen and work together
• Learning - Seek knowledge and strive for improvement
• Excellence – Deliver the unexpected

Supervision

• Job Scope: Responsible for understanding the department/functional area objectives and goals and how own job contributes to achievement of these goals; may recommend changes and enhancements based on