Loss Mitigation Underwriter I

Guild Mortgage Company, closing loans and opening doors since 1960. As a mortgage banking firm, we are dedicated to serving the homeowner/buyer. Our goal is to provide affordable home financing for our customers, utilizing the best terms available while providing a level of professionalism and service unsurpassed in the lending industry.

Position Summary

The Loss Mitigation Underwriter is responsible for evaluating and underwriting loss mitigation applications, analyzing financial information and supporting documentation according to investor guidelines and National Servicing Standards to determine the best course of action for delinquent mortgage accounts. This role requires analyzing borrower financial information, assessing risk, and making informed decisions using investor waterfalls and guidelines to mitigate potential losses. The ideal candidate will possess strong analytical skills, a thorough understanding of mortgage underwriting, and the ability to work effectively in a fast-paced environment. Responsibilities include working with various investor applications to obtain workout results, notifying and coordinating with appropriate departments and agencies regarding loans, and processing workouts accurately and timely within investor guidelines. Additionally, the underwriter is responsible for accurately and efficiently maintaining a loan-level portfolio, ensuring compliance with regulatory and investor deadlines.

This role may require occasional weekend work based on business needs.

Compensation 

This role is a non-exempt position with a Targeted Salary Range of $23/hr - $28.75/hr.

Compensation at Guild is influenced by a wide array of factors including but not limited to local and federal minimum wage requirements, education, level of experience, and applicant’s geographical location.

Essential Functions

• Request and gather supporting documentation to create complete loan workout packages within required timeframes, complying with investor, insurer, state, federal, and CFPB guidelines.
• Evaluate and underwrite loss mitigation applications, including forbearance agreements, repayment plans, partial claims, deferrals, and loan modifications.
• Analyze borrower financial statements and supporting documentation to determine appropriate resolutions.
• Assess risk and make informed decisions using investor waterfalls and guidelines to mitigate potential losses.
• Collaborate with various investors to decide on retention eligibility for borrowers experiencing hardships.
• Conduct timely, accurate, and compliant reviews of files according to investor guidelines and National Servicing Standards.
• Utilize investor applications to obtain workout results.
• Notify and coordinate with relevant departments and agencies regarding loan statuses, ensuring accurate and timely processing.
• Maintain a loan-level portfolio accurately and efficiently, adhering to regulatory and investor deadlines.
• Evaluate income and expense calculations to ensure the borrower’s ability to continue making mortgage payments.
• Follow up on outstanding issues to ensure timely decision-making in accordance with regulations and guidelines.
• Order appraisals and ensure homeowners receive valuation notices and copies.
• Order date downs and/or title endorsements for modifications.
• Obtain necessary title clearance and subordination documentation.
• Prepare income/expense calculations to ensure compliance with standards.
• Provide accurate information to resolve issues and follow up on commitments promptly.
• Develop workout recommendations such as forbearance, repayment, or modification using financial documents.
• Enter and upload documents to internal systems for review and approval.
• Follow information security policies.
• Assist with internal and external audit requests.
• Participate in projects to improve business performance.
• Communicate effectively with the management team and escalate issues as needed.
• Stay current on industry regulations and recommend updates to internal policies and systems.
• Update internal tracking and investor systems accurately.
• Run waterfall calculations to finalize workout options.
• Provide input on updates to procedure manuals or job aids.
• Perform other duties as assigned.

Qualifications 

• Bachelors Degree directly related to the position or equivalent, preferred. A combination of education and experience may be considered in lieu of the Bachelor’s degree.

• Minimum two years or more years total mortgage servicing experience, or at least one year working in loss mitigation roles.
• Strong working knowledge of FNMA/ FHLMC/ FHA/ VA/ USDA mortgage loan documents, including overall processes and inter-relationships, standards and requirements, terminology, compliance and regulatory requirements related to federal debt collection laws, Federal Bankruptcy Laws, and proper handling of other legal situations.
• Knowledge of Standard Operating Procedures, CFPB, FCRA, and FDCPA preferred.
• Strong analytical and decision-making skills.
• Thorough understanding of mortgage underwriting and loss mitigation processes.
• Detail-oriented with a high level of accuracy and integrity.
• Highly organized and detail-oriented; ability to work in a fast-paced, department-metrics-driven environment required.
• Intermediate math skills required.
• Familiarity with document retention software; Blitzdoc /ICE preferred.
• 10-key by touch is strongly preferred.
• Excellent verbal and written communication skills required.
• Highly organized and detail-oriented; ability to work in a fast-paced, metrics-driven environment required.
• Proficiency in Microsoft Office Suite, Word, Excel, Wiki, collaborative cloud-based programs, and third-party software applications required.
• Commitment to company values.
• Customer Service - Proactive attention to each person
• Integrity - Do and say what's right
• Respect - Treat others with dignity
• Collaboration - Listen and work together
• Learning - Seek knowledge and strive for improvement
• Excellence – Deliver the unexpected

Supervision 

• Job Scope: Responsible for understanding the department/functional area objectives and goals and how own job contributes to achievement of these goals; may contribute insights and ideas on policies, processes, procedures, and efficiency; may recommend changes and enhancements based on analysis and evaluation of circumstances

• Complexity: Problems are often complex and specialized and may involve unprecedented circumstances; resolution requires investigation, analysis and review of professional/organizational standards

• Impact: Decisions and actions have an impact on the smooth operation and timeframes of the department, programs/projects; impact on the broader organization is generally indirect

• Interaction/Supervision: Acts as a mentor/guide to less experienced professional contributor staff in a similar role; works independently and only under general direction; guided by professional standards, desired outcomes, and project plan specifications

Requirements 

Physical: Work is primarily sedentary; mobility in an office setting.

Manual Dexterity:  Frequent use of computer keyboard and mouse.

Audio/Visual:  Ability to accurately interpret sounds and associated meanings at a volume consistent with interpersonal conversation. Regularly required to accurately perceive, distinguish and interpret information received visually and through audio, e.g., words, numbers and other data broadcasted aloud/viewed on a screen, as well as print and other media.             

Environmental:  Office environment – moderate noise, no substantial exposure to adverse environmental conditions.

Mental: Learn new tasks, remember processes, maintain focus, complete tasks independently, and make timely decisions in the context of a workflow. This role requires effective adaptation to workplace stressors, including customer service complaints, security responsibilities, and competing priorities. Must be able to adhere to process protocol. Must be able to apply established protocols in a timely manner.

Schedules: Work is primarily performed during the business week, Monday - Friday

Guild offers a pleasant work environment, competitive compensation and excellent benefits package, including medical, dental, vision, life insurance, AD&D, LTD and 401(k) with employer match.

Guild Mortgage Company is an Equal Opportunity Employer.

REQ#: LOSSM017761