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Loss Mitigation Underwriter in Lake Zurich, IL at Dovenmuehle

Date Posted: 4/11/2018

Job Snapshot

Job Description


Our Loss Mitigation Underwriters evaluates application packages to determine the financial circumstances of a borrower and their capacity and ability to pay. They will negotiate terms of the various workout alternatives to allow borrowers to avoid foreclosure.

Responsibilities include, but are not limited to, the following:

  • Evaluate the financial position of the mortgagor(s) to determine the appropriate workout option best suited for the situation; this entails a review of the mortgagor(s) income and expenses, income tax returns, balance sheets/income statements for self employed borrowers and credit reports
  • Evaluate appraisals to assure adequate collateral of the security instrument is maintained, or the maximum value is received for the repayment of the debt in the case of a pre-foreclosure sale; also review title searches for liens, current real estate tax information or encumbrances which could pose a potential problem
  • Complete modification/forbearance calculations for agreements or provide required information to various attorneys for preparation of same
  • Provide documentation to the appropriate internal departments to update the Loan Servicing System to reflect modified terms and produce new coupon books or statements as appropriate
  • Performs all other responsibilities and duties deemed necessary

Job Requirements

Job requirements:

  • 4+ years Mortgage Underwriting experience
  • Strong communication, interpersonal, and organizational skills required
  • Ability to handle high volume and multi-task effectively
  • Bachelor's degree preferred