Planet Home Lending

Mitigation Underwriter

US-CT-Meriden
1 week ago(1/8/2018 8:26 AM)
# of Openings
1
Category
Administrative/Clerical

Overview

The Mitigation Underwriter is responsible for reviewing, analyzing and processing borrower requests for all loss mitigation strategies including loan modifications, short sales, deed-in-lieu, etc.

Primary Responsibilities

  • Reviews, analyzes and processes borrower requests for loan modification, short sales, and deed-in-lieu requests. Audits packages to ensure borrower has sent in all required information. Works with Default Servicing Processor and Mitigation Coordinators for follow up items.
  • Reviews borrower’s financial and income paperwork. Computes income from paystubs, tax returns, etc. Validates income and assets. Pulls and reviews credit reports.
  • Performs manual calculation of borrower’s front-end and back-end Debt to Income (DTI) ratio.
  • Calculates new monthly loan payment based on modified loan rate.
  • Reports modification findings to Default Servicing Management for decisioning.
  • Upon approval of a loan modification, prepares and sends out the final modification agreement to the borrower.
  • Completes required HAMP and FHLMC reporting as required.
  • Miscellaneous duties as assigned.

 

Position Requirements

  • High school diploma or equivalent required.
  • Minimum of five years’ experience in mortgage underwriting, collections, or loss mitigation
  • Minimum of two years’ experience in mortgage loan servicing
  • Thorough understanding of the loan modification process
  • Working knowledge and understanding of mortgage loan documents
  • Thorough understanding of credit and an ability to review and complex financial documents.
  • Effective written and verbal communication skills
  • Strong analytical skills with the ability to think outside of the box
  • Demonstrates a commitment to quality customer service
  • Strong attention to detail.
  • Excellent problem solving skills and ability to make sound judgments in a fast-paced environment
  • Well organized with the ability to multi-task.
  • Demonstrates strong time management skills with the ability to meet deadlines.
  • Works well with others.
  • Strong mathematical skills.
  • Experience with LPS system a plus.

  • Strong PC skills (MS Office products) and experience with mortgage origination systems.

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