Carrington Mortgage Services
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Loss Mitigation, Decision Specialist
at Carrington Mortgage Services
- Job ID
- Position Category
- Carrington Mortgage Services, LLC
- Position Type
FOUNDED IN 2003, Carrington has evolved from a mortgage credit asset manager into a vertically-integrated financial services company that covers virtually every aspect of the single family residential real estate transaction, including investment in U.S. real estate and mortgage markets, loan origination and servicing, asset management and property preservation, real estate sales and rental, and title and escrow services. Carrington has built the infrastructure necessary to maximize value during any market cycle.
The Loss Mitigation Decision Specialist will be responsible for educating borrowers on CMS’ Loss Mitigation alternatives with the objective of retaining home ownership and avoiding foreclosure, including Loan Modifications, Partial Claims, Mortgage Recovery Advances (“MRA’s”), and Reinstatements. Perform all duties in accordance with the company’s policies and procedures, all US state and federal laws and regulations, wherein the company operates.
ESSENTIAL DUTIES AND RESPONSIBILITIES:
- Handle inbound calls routed through IVR as well as internal transfers to determine borrowers’ intent to retain property, discuss foreclosure alternatives, provide eligibility criteria/information,
- Make outbound calls on all assigned loans in pipeline to follow up on collection of signed trial agreements, repay agreements and final loan modification documents.
- Communicate approval or denial of a loss mitigation workout option, and handle general questions regarding account information.
- In a denial case engage borrowers’ interest and participation in a loss mitigation liquidation option and route borrower to the loss mitigation liquidation team.
- Provide information to borrowers’ relating to Title issues that may be impeding finalization of a modification.
- Maintain consistent attendance to ensure fulfillment of essential duties and responsibilities.
- Communicate the options available to the borrower for resolving the delinquency or imminent default, the actions the borrower must take to be considered for those options, the timing requirements for completion of actions by the borrower and the servicer, and the status of the servicer’s evaluation of the borrower for those options.
- Being knowledgeable about the borrower’s situation and current status in the entire delinquency or imminent default resolution process, including any Loss Mitigation or non-foreclosure liquidation options.
- Assist borrowers who request to escalate a complaint or dispute a reason for non-approval, in contacting the servicer’s staff handling Escalated Cases and, upon request, must provide contact information for MHA Help
- Perform other duties as assigned.
- Knowledge of mortgage industry terminology preferred.
- Working knowledge of all Government and MHA program requirements and timelines, including FHA, VA, USDA, FNMA and FHLMC.
- Knowledge of Microsoft Suite at an intermediate level required.
- Ability to understand opposing points of view on highly complex issues and to negotiate and integrate different viewpoints.
- Ability to make decisions that have significant impact on the department’s credibility, operations, and services.
- Ability to organize and prioritize own work schedule on short-term basis (longer that one month) and within allotted work schedule timelines.
- Ability to add, subtract, multiply, and divide and to record, balance, and check results for accuracy.
- Ability to express or exchange ideas by means of the spoken word, communicating orally with other accurately, audibly, and quickly.
EDUCATION, EXPERIENCE AND/OR LICENSES:
- High school diploma or equivalent required. Some college courses in business, accounting or finance preferred.
- One (1) or more years’ experience in collections, loss mitigation or call center within a mortgage servicing environment required.
- All State and NMLS licensing pursuant to SAFE Act required to be maintained current at all times.