Hiring For Loss mitigation Bankruptcy and Foreclosure Associates

Mortgage Loss Mitigation Specialist

Key Responsibilities

Loss Mitigation

• Review borrower financials and determine eligibility for workout options such as

  loan modifications, repayment plans, forbearances, short sales, and deeds-in-lieu

  .
• Communicate with borrowers, attorneys, and housing counselors to collect required documentation and explain available options.
  
• Prepare and submit investor packages for approval per

  Fannie Mae, Freddie Mac, FHA, VA, or private investor

  guidelines.
• Track workout progress to ensure timely resolution and adherence to regulatory timelines.
  

Bankruptcy

• Monitor assigned loans under bankruptcy protection (Chapters 7, 11, 12, and 13).
  
• Coordinate with internal counsel to file Proofs of Claim, Motions for Relief, and Payment Change Notices.
  
• Update bankruptcy case information in servicing systems and ensure compliance with

  CFPB

  and

  bankruptcy court requirements

  .

Foreclosure

• Manage loans in active foreclosure ensuring all processes comply with

  federal, state, and investor regulations

  .
• Work closely with foreclosure attorneys to track milestones and ensure timely completion.
  
• Review pre-sale documentation for accuracy and compliance.
  
• Identify and escalate issues that may delay or impact foreclosure timelines.
  

Default Servicing Administration

• Maintain accurate loan records in servicing systems (e.g., MSP, LoanSphere, Black Knight).
  
• Ensure compliance with

  RESPA, TILA, CFPB, and investor servicing standards

  .
• Generate and analyze reports to track portfolio performance and identify trends.
  
• Support audits, investor reviews, and regulatory examinations.
  

Qualifications

• Education:

  Bachelors degree .

• Experience:

  1+ years in

  mortgage servicing, loss mitigation, foreclosure, or bankruptcy

  .

• Knowledge:

• Mortgage loan documents and default servicing processes
  
• Investor and insurer guidelines (Fannie Mae, Freddie Mac, FHA, VA, USDA)
  
• CFPB servicing rules, bankruptcy law, foreclosure timelines
  

• Skills:

• Strong analytical and problem-solving abilities
  
• Excellent communication and negotiation skills
  
• Proficiency in servicing systems (e.g., MSP, Black Knight, FISERV) and Microsoft Office Suite
  
• Attention to detail and ability to meet strict deadlines
  

Interested candidates can reach out to bhanumathi.bbb@sourcepointmortgage.com

Disclaimer: