Loss Mitigation QC

Job Description

Loss Mitigation QC & Loss Mitigation: To have an E2E Birds Eye view of the Default Servicing cycle of US Mortgage Loan Operations. To have fair knowledge on Underwriting & Closing process in Loss Mitigation Capable of reviewing and quality check files related to LM and UW Should be able to work on various loan divisions such as Fannie Mae, Freddie Mac, FHA, VA, USDA & Asset Loans Performing income calculations (Pay stubs, Self-employment, Rental Income, Pension/SSI) based on the guidelines and Mortgage Application Assistance hardship requirements in underwriting process. In Depth knowledge in Listing agreement, HUD1-settlement statement and Purchase contract, Divorce/ Separation agreement, Quit Claim Deed, LOE, POE & Child Support. To have an E2E knowledge on loan default cycle To have knowledge on DTI, CLTV, HCLTV calculations To have knowledge on Forbearance, Forbearance extension and Extension of Forbearance. Hawkeye for perfection in QC is required. To have E2E knowledge in closing and knowledge on loan mitigation closing is required. Exposure of working on checklists is an added advantage. **An Exposure to tools like MSP Blacknight Director -7, AIQ, repay shall be an added advantage**