Loss Mitigation Coordinator

The Loss Mitigation Specialist provides administrative support to the Loss Mitigation Supervisor / Department. This role assists with the loss mitigation process associated with various loan workouts.

Responsibilities :

• Works with internal, external third party vendors and borrower(s) through both written and oral negotiations in an attempt to mitigate foreclosure / REO avoidance / losses
• Documents the LPS Loss Mitigation Workstation (notes, steps), generates appropriate letters / tasks and adds documents to the imaging system to substantiate the recommendation, as required
• Notifies foreclosure attorney regarding status of loss mitigation activity via New Trak Express, if applicable
• Maintains extensive investor, insurer and client guidelines / timeframes required for processing a loan workout
• Creates and updates managerial detail reports and / or spread sheet(s) pertinent to the workout function and / or progress of the loan(s) on a daily, weekly or monthly basis, as required
• Confirms accurate set-up of loss mitigation workstation in LPS
• Assists in the payment to vendors associated with Loss Mitigation activities by reviewing invoices
• May assist in the performance of other functions in the Loss Mitigation department
• Updates information on MSP Loss Mitigation Workstation; steps and tasks
• Assists in creating procedures and may be asked to train representatives
• Tracks all work performed through tasks, comment codes or status reports to Management
• Opens and closes tasks within expected time frames
• Completes other duties and projects as assigned
• Appropriately assess risk when business decisions are made, include but not limited to compliance and operational risk. Demonstrate consideration for Cenlar’s reputation as well as our clients, by driving compliance with applicable laws, rules and regulations, adhering to Policy, applying sound ethical judgment regarding personal behavior, conduct and business practices, and escalating, managing and reporting control issues, as well as effectively supervise the activity of others and create accountability with those who fail to maintain these standards

Interface : Overall strong interaction with Unit Manager, staff and internal Department Managers

Qualifications :