Mitigation Coordinator
WFA Digital Insight
The shift to remote work has intensified the demand for skilled professionals in loan mitigation, with a 25% growth in job openings over the past year. As a Mitigation Coordinator at Planet, you'll be at the forefront of this trend, leveraging your negotiation and problem-solving skills to drive business results. With the mortgage industry adapting to changing regulations and consumer behaviors, candidates with a strong understanding of loan modification laws and a knack for creative problem-solving are in high demand. Before applying, consider how your skills align with the company's focus on innovation and customer satisfaction.
Job Description
About the Role
The Mitigation Coordinator plays a vital role in managing a portfolio of defaulted loans, working closely with borrowers, investors, and realtors to develop and implement effective loss mitigation strategies. This role requires a deep understanding of the mortgage industry, including loan modification laws and regulations. As a key member of the team, you will be responsible for negotiating with borrowers and other stakeholders to resolve defaulted loans in a timely and cost-effective manner.Day-to-day, you will work with a range of stakeholders, from borrowers and investors to realtors and internal teams, to identify and implement solutions that avoid foreclosure. Your expertise in property evaluation will be crucial in making recommendations to management for negotiated pay-offs and charge-offs. You will also be responsible for resolving title issues on properties listed for sale and deeds in lieu of foreclosure.
As a bilingual representative, you will handle inquiries and interactions in the customer's preferred language, providing exceptional customer service and support. Your ability to work well in a fast-paced environment, combined with your strong negotiation and communication skills, will be essential in driving successful outcomes.
What You Will Do
- Manage a portfolio of defaulted loans, developing and implementing effective loss mitigation strategies
- Negotiate with borrowers, investors, and realtors to resolve defaulted loans in a timely and cost-effective manner
- Utilize property evaluation skills to make recommendations to management for negotiated pay-offs and charge-offs
- Resolve title issues on properties listed for sale and deeds in lieu of foreclosure
- Analyze mortgagors for approval of HAMP or traditional modification
- Report modification results to investors or federal agencies as required
- Implement approved alternative collections or loss mitigation methods
- Order and evaluate property opinions (BPO, REO Appraisals), and assign a reconciled value to determine feasibility of a short-sale or charge-off
- Maintain required records for modifications, short-sales, deeds in lieu of foreclosure, and reinstatements
- Complete assignment of loans and determine if there is an alternative to foreclosure
- Preserve and secure vacant properties in a pre-REO status
What We Are Looking For
- High school diploma or equivalent
- Minimum 3 years of mitigation, collections, and/or default servicing experience
- Strong negotiation skills
- Working knowledge of mortgage documents, real estate settlements, and foreclosure timelines/requirements
- Excellent verbal and written communication skills
- Demonstrated effective listening skills
- Detail-oriented with strong organization skills
- Ability to work well in a team and focus on results
- Ability to speak and read Spanish fluently is a plus
- Experience working with Microsoft Windows applications
- Experience with MSP servicing system a plus
Nice to Have
- Experience in a related field, such as mortgage banking or real estate
- Knowledge of foreclosure, modification, and collection laws and regulations
- Certification in loan modification or a related field
- Experience working in a fast-paced, dynamic environment
Benefits and Perks
- Comprehensive benefits package, including health, dental, and vision insurance
- 401(k) retirement plan with company match
- Paid time off and holidays
- Remote work opportunities
- Professional development and growth opportunities
- Access to cutting-edge technology and tools
- Collaborative and dynamic work environment
- Recognition and rewards for outstanding performance
How to Stand Out
- Develop a strong understanding of loan modification laws and regulations to stand out in the application process.
- Highlight your negotiation and problem-solving skills, as these are essential for success in this role.
- Familiarize yourself with mortgage industry software and technology, such as MSP servicing systems.
- Tailor your resume and cover letter to the specific requirements of the job, emphasizing relevant experience and skills.
- Prepare to discuss your experience working in a fast-paced environment and your ability to work well under pressure.
- Research the company culture and values to demonstrate your alignment with the organization's mission and goals.
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