Loss Mitigation Underwriter at loanDepot in Plano, TX

Description

Position at loanDepot

Position Summary:

Responsible for managing a portfolio of current to severely delinquent accounts where a borrower has requested loss mitigation assistance. Analyzes and understands credit bureau reports, tax returns, financial statements, pay stubs, bank statements, and other supporting documentation to verify borrower(s) financial situation and determines the best foreclosure alternative. In addition, identifies the best foreclosure alternative solution by following FHA, VA, USDA, FNMA, FHLMC waterfall guidelines and arranging Repayments plans, Loan Modifications, Pre-Foreclosure Sales, and Mortgage Release. Demonstrates full understanding of all FHA, VA, USDA, FNMA, FHLMC loss mitigation retention and disposition guidelines to effectively mitigate loss for investor and company. Demonstrates a strong understanding of all FHA, VA, USDA, FNMA, FHLMC income & expense calculation guidelines and requirements.

Responsibilities:

• Underwrites loans for loss mitigation in accordance with FHA, VA, USDA, FNMA, FHLMC guidelines and decisions all loss mitigation waterfall options for borrower(s) seeking workout assistance.
• Recommends loss mitigation actions on requests for proposed foreclosure alternatives within timeframes established by investor.
• Independently maintains a portfolio size of 100+ loans by meeting all investor, departmental and company guidelines.
• Works directly with Borrower Advocate team on loss mitigation follow up’s, approval, or denials.
• Demonstrates thorough understanding of credit risk and ability to review financial documents.
• Utilizes ability to read and interpret title searches and rectify outstanding judgements, liens, etc.
• Maintains quality control and production standards defined by loanDepot.

Requirements:

• 3+ years of Loss Mitigation Underwriting experience required.
• Experience working in MSP/Black Knight required.
• Bachelor’s Degree preferred

Why work for #teamloanDepot:

• Aggressive compensation package based on experience and skill set
• Inclusive, diverse, and collaborative culture where people from all backgrounds can thrive
• Work with other passionate, purposeful, and customer-centric people
• Extensive internal growth and professional development opportunities including tuition reimbursement
• Comprehensive benefits package including Medical/Dental/Vision
• Wellness program to support both mental and physical health

About loanDepot:

loanDepot (NYSE: LDI) is a digital commerce company committed to serving its customers throughout the home ownership journey. Since its launch in 2010, loanDepot has revolutionized the mortgage industry with a digital-first approach that makes it easier, faster, and less stressful to purchase or refinance a home. Today, as the nation's second largest non-bank retail mortgage lender, loanDepot enables customers to achieve the American dream of homeownership through a broad suite of lending and real estate services that simplify one of life's most complex transactions. With headquarters in Southern California and offices nationwide, loanDepot is committed to serving the communities in which its team lives and works through a variety of local, regional, and national philanthropic efforts.

Base pay is one piece of our total rewards package and is structured within a range so you can progress as you grow in the role. For this position, the anticipated annual base pay is $25.96 to $33.70 per hour nationally. Actual compensation will depend on your skills, experience, qualifications, and the work location tied to our geographic pay structure.

We are an equal opportunity employer and value diversity in our company. We do not discriminate based on race, religion, color, national origin, gender, sexual orientation, age, marital status, veteran status, or disability status.