Loss Mitigation Specialist @ BSI Financial Services

Join BSI Financial Services as a Loss Mitigation Specialist! The Loss Mitigation Specialist is a liaison between clients and borrowers to create a viable solution to avoid Foreclosure proceedings. Our representatives are expected to provide exceptional servicing of mortgage loans and be able to identify eligible programs for the borrower such as a Modification, Short Sale, GNMA, FHA, Fannie Mae, Freddie Mac, VA, and settlement options while ensuring compliance with mortgage holder guidelines and program-specific regulations. It is expected that our Account Representatives maintain active communication with borrowers, maintain accurate account data, meet all compliance requirements of the position and industry, close transactions in a timely manner, and facilitate the smooth transition to the newly agreed terms.

Position Type and Expected Hours of Work

This is a full-time position. Days and hours of work are Monday through Friday, 8:00 a.m. to 5:00 p.m.; one late night 10:00 am- 7:00 pm; one mandatory Saturday each month 8:00 am -12:00 pm

WHAT YOU WILL DO:

• Communicates with delinquent borrowers and third parties to review options to avoid foreclosure and resolve the delinquency
• Familiar with FHA, VA, USDA, FNMA, and FHLMC Loss Mitigation practices, waterfall options, and procedures
• Initiate contact with borrowers who have defaulted on their mortgages, made through phone calls and the use of a dialer
• Respond to borrower inquiries regarding mortgage defaults and loss mitigation solutions
• Evaluate the borrower’s financial ability and reason for default for appropriate workout options
• Demonstrate empathy and build trust with homeowners experiencing financial hardship
• Negotiate and formalize agreements and options with borrowers in foreclosure when appropriate. Ability to explain Loss Mitigation waterfall options to homeowners in a clear concise manner
• Monitor account pipeline to assure all investor and insurer guidelines are attained such as contact attempts
• Coordinate and facilitate initial loss mitigation efforts with associated departments, foreclosure counsel, investors, and mortgage insurance companies
• Handle escalated issues and customer inquiries about Loss Mitigation options and internal processes/timelines
• Communicate with attorneys or counseling agencies on loss mitigation efforts and arrangements
• Initiate and monitor research on accounts as required
• Ability to multi-task daily to clear exceptions, return calls, maintain daily call standards and provide adequate account reviews to ensure that department and investor monthly goals are attained
• Responsible for meeting legal requirements and following internal policies

WHAT WE’RE LOOKING FOR:

• High school diploma or GED required, a college degree is a plus
• Prior collections or loss mitigation experience preferred
• Knowledge of Microsoft Office, specifically Excel, Word, & Outlook
• Prior dialer or call center experience is a plus
• Knowledge of Sagent mortgage servicing platform and investor systems (such as FHA Neighborhood Watch) is beneficial
• Knowledge of the Mortgage industry required

WHAT’S IN IT FOR YOU:

• Competitive wages
• Opportunity for career growth
• Outstanding Benefits Package
  • Including a company-paid life insurance policy!
• Generous PTO
• Holiday Pay
• 401K
• Company provided equipment

EEO Statement

We are an equal employment opportunity employer. All qualified applicants will receive consideration for employment without regard to race, color, religion, gender, national origin, disability status, protected veteran status, or any other characteristic protected by law.