Loss Mitigation Underwriter
In Irving, Texas 75062
As a Loss Mitigation Underwriter, you will conduct a complete loss mitigation evaluation for borrowers by fulfilling the following functions:
- Review and analyze borrowers’ financial documents, including financial statements, hardship letter, tax returns, bank statements, pay stubs, profit and loss statements, awards letters, and credit bureau reports.
- Analyze borrowers’ ability to afford a loan modification based upon documented income, assets, and monthly obligations and expenditures.
- Determine borrower eligibility for loss mitigation workouts based upon proprietary, GSE, HUD, and MHA/HAMP criteria.
- Calculate modification principal balance capitalization for approved retention options, taking into account past due interest, escrow, and 3rd party advances.
- Run a pro forma escrow analysis to ensure proper modification escrow payment calculations.
- Responsible for documenting the MSP Director Premier Loss Mitigation Workstation (notes, steps), generate appropriate letters and/or tasks, as well as adding documentation to Meridian/Doc Velocity to substantiate the loss mitigation decision made for each account.
- High school diploma or GED
- Default and loss mitigation underwriting experience
- Must have experience in FHA and VA loans
Let one of our recruiters assist you in finding and preparing for interviews with our clients. Whether you are interested in a direct hire, temp-to-hire, or temporary position, Workway can help you to put your best foot forward. Contact us today!
Default and underwriting experience
Loss Mitigation Underwriting
Must have experience in FHA and VA loans