Planet Home Lending

Mitigation Coordinator

Job Locations US-CT-Meriden
Posted Date 1 month ago(1/17/2018 12:05 PM)
# of Openings


The Mitigation Coordinator follows established guidelines to manage a portfolio of defaulted loans and mitigates losses by negotiating with our borrowers, investors, and realtors to develop and implement appropriate solutions to avoid foreclosure. Determine strategies for resolution on severely delinquent loans.  Utilize property evaluation skills to make recommendations to management for negotiated pay-offs, and charge-offs.  Resolves title issues on properties listed for sale and deeds for lieu of foreclosure.

Primary Responsibilities

  • Contact mortgagors and others as appropriate to negotiate and arrange resolution of defaulted loans.
  • Utilize creativity in determining and recommending alternative collection or loss mitigation methods such as modifications, short sales, deeds in lieu of foreclosure, reinstatements, in the most cost effective manner.
  • Analyze mortgagors for approval of HAMP or traditional modification.  Report modification results to investors or federal agencies as required.
  • Implement approved alternative collections or loss mitigation methods.
  • Order and evaluate property opinions (BPO, REO Appraisals), and assign a reconciled value to determine feasibility of a short-sale, or charge-off.
  • Maintains required records for modifications, short-sales, deeds in lieu of foreclosure, and reinstatements.
  • Complete assignment of loans and determine if there is an alternative to foreclosure
  • Preserve and secure vacant properties in a pre-REO status.
  • Remain knowledgeable of foreclosure, modification, and collection laws and regulations of each state for the portfolio assigned.

Position Requirements

  • High school diploma or equivalent required
  • Minimum of three years of mitigation, collections and/or default servicing experience
  • Strong negotiation skills
  • Working knowledge of mortgage documents, real estate settlements, and foreclosure timelines/requirements
  • Excellent verbal and written communication skills
  • Demonstrates strong customer service skills
  • Ability to work well in a fast-paced environment
  • Demonstrated effective listening skills
  • Detail oriented with strong organization skills
  • Ability to work well on a team and focus on results
  • Ability to speak and read Spanish fluently is a plus
  • Experience working with Microsoft Windows applications
  • Experience with MSP servicing system a plus


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