Loss Mitigation Underwriter I
M&T Bank
Loss Mitigation Underwriter I
Job Description
Overview:
This position is responsible for submitting loan modification workups for the entire waterfall of investor workout options.
Primary Responsibilities:
- Understand investor’s waterfall and required documents for loss mitigation.
- Communicate with customers, real estate agents and attorneys to negotiate short sale settlement offers and advise of loss mitigation decisions.
- Manage and monitor account portfolio to ensure that all documentation and account decisions comply with banking policies, investor guidelines and applicable regulations.
- Assess property value and variance between appraised properties and offers submitted by potential buyers.
- Review tax returns, income statements, pay stubs, credit reports and general customer financial documents.
- Determine the most suitable repayment option for customers and calculate loan modification terms.
- Prepare workout summaries for management approval.
- Communicate with Single Point of Contact, title vendors and Loss Mitigation Closing team to gather information and resolve account complications.
- Adhere to applicable compliance/operational risk controls in accordance with Company or regulatory standards and policies.
- Maintain M&T internal control standards, including timely implementation of internal and external audit points together with any issues raised by external regulators as applicable.
- Promote an environment that supports belonging and reflects the M&T Bank brand.
- Complete other related duties as assigned.
Scope of Responsibilities:
Works a portfolio of approximately 70 loans.
Education and Experience Required:
A combined 3 years’ higher education and/or experience, including a minimum of 1 year collections or underwriting experience.
Ability to communicate effectively and professionally over the phone.
Excellent communication and customer service skills.
Proficiency with word processing and spreadsheet software.
Education and Experience Preferred:
Bachelor’s degree.
Paralegal certification or experience.
Mortgage collections experience.
Knowledge of M&T systems.
M&T Bank is committed to fair, competitive, and market-informed pay for our employees. The pay range for this position is $20.55 - $34.25 (USD). The successful candidate’s particular combination of knowledge, skills, and experience will inform their specific compensation. The range listed above corresponds to our national pay range for this role. The specific pay range applicable to you may vary based on your location.Location
Clanton, Alabama, United States of AmericaLocations
- Remote, United States of America (Remote)
Salary
42,700 - 71,240 USD / yearly
Estimated Salary Rangehigh confidence
42,700 - 74,802 USD / yearly
Source: Disclosed
* This is an estimated range based on market data and may vary based on experience and qualifications.
Skills Required
- Effective phone communicationintermediate
- Excellent communication and customer serviceintermediate
- Proficiency with word processing and spreadsheet softwareintermediate
Required Qualifications
- A combined 3 years’ higher education and/or experience, including a minimum of 1 year collections or underwriting experience (experience)
- Ability to communicate effectively and professionally over the phone (experience)
- Excellent communication and customer service skills (experience)
- Proficiency with word processing and spreadsheet software (experience)
Preferred Qualifications
- Bachelor’s degree (experience)
- Paralegal certification or experience (experience)
- Mortgage collections experience (experience)
- Knowledge of M&T systems (experience)
Responsibilities
- Understand investor’s waterfall and required documents for loss mitigation
- Communicate with customers, real estate agents and attorneys to negotiate short sale settlement offers and advise of loss mitigation decisions
- Manage and monitor account portfolio to ensure that all documentation and account decisions comply with banking policies, investor guidelines and applicable regulations
- Assess property value and variance between appraised properties and offers submitted by potential buyers
- Review tax returns, income statements, pay stubs, credit reports and general customer financial documents
- Determine the most suitable repayment option for customers and calculate loan modification terms
- Prepare workout summaries for management approval
- Communicate with Single Point of Contact, title vendors and Loss Mitigation Closing team to gather information and resolve account complications
- Adhere to applicable compliance/operational risk controls in accordance with Company or regulatory standards and policies
- Maintain M&T internal control standards, including timely implementation of internal and external audit points together with any issues raised by external regulators as applicable
- Promote an environment that supports belonging and reflects the M&T Bank brand
- Complete other related duties as assigned
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Answer 10 quick questions to check your fit for Loss Mitigation Underwriter I @ M&T Bank.
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Loss Mitigation Underwriter I
M&T Bank
Loss Mitigation Underwriter I
Job Description
Overview:
This position is responsible for submitting loan modification workups for the entire waterfall of investor workout options.
Primary Responsibilities:
- Understand investor’s waterfall and required documents for loss mitigation.
- Communicate with customers, real estate agents and attorneys to negotiate short sale settlement offers and advise of loss mitigation decisions.
- Manage and monitor account portfolio to ensure that all documentation and account decisions comply with banking policies, investor guidelines and applicable regulations.
- Assess property value and variance between appraised properties and offers submitted by potential buyers.
- Review tax returns, income statements, pay stubs, credit reports and general customer financial documents.
- Determine the most suitable repayment option for customers and calculate loan modification terms.
- Prepare workout summaries for management approval.
- Communicate with Single Point of Contact, title vendors and Loss Mitigation Closing team to gather information and resolve account complications.
- Adhere to applicable compliance/operational risk controls in accordance with Company or regulatory standards and policies.
- Maintain M&T internal control standards, including timely implementation of internal and external audit points together with any issues raised by external regulators as applicable.
- Promote an environment that supports belonging and reflects the M&T Bank brand.
- Complete other related duties as assigned.
Scope of Responsibilities:
Works a portfolio of approximately 70 loans.
Education and Experience Required:
A combined 3 years’ higher education and/or experience, including a minimum of 1 year collections or underwriting experience.
Ability to communicate effectively and professionally over the phone.
Excellent communication and customer service skills.
Proficiency with word processing and spreadsheet software.
Education and Experience Preferred:
Bachelor’s degree.
Paralegal certification or experience.
Mortgage collections experience.
Knowledge of M&T systems.
M&T Bank is committed to fair, competitive, and market-informed pay for our employees. The pay range for this position is $20.55 - $34.25 (USD). The successful candidate’s particular combination of knowledge, skills, and experience will inform their specific compensation. The range listed above corresponds to our national pay range for this role. The specific pay range applicable to you may vary based on your location.Location
Clanton, Alabama, United States of AmericaLocations
- Remote, United States of America (Remote)
Salary
42,700 - 71,240 USD / yearly
Estimated Salary Rangehigh confidence
42,700 - 74,802 USD / yearly
Source: Disclosed
* This is an estimated range based on market data and may vary based on experience and qualifications.
Skills Required
- Effective phone communicationintermediate
- Excellent communication and customer serviceintermediate
- Proficiency with word processing and spreadsheet softwareintermediate
Required Qualifications
- A combined 3 years’ higher education and/or experience, including a minimum of 1 year collections or underwriting experience (experience)
- Ability to communicate effectively and professionally over the phone (experience)
- Excellent communication and customer service skills (experience)
- Proficiency with word processing and spreadsheet software (experience)
Preferred Qualifications
- Bachelor’s degree (experience)
- Paralegal certification or experience (experience)
- Mortgage collections experience (experience)
- Knowledge of M&T systems (experience)
Responsibilities
- Understand investor’s waterfall and required documents for loss mitigation
- Communicate with customers, real estate agents and attorneys to negotiate short sale settlement offers and advise of loss mitigation decisions
- Manage and monitor account portfolio to ensure that all documentation and account decisions comply with banking policies, investor guidelines and applicable regulations
- Assess property value and variance between appraised properties and offers submitted by potential buyers
- Review tax returns, income statements, pay stubs, credit reports and general customer financial documents
- Determine the most suitable repayment option for customers and calculate loan modification terms
- Prepare workout summaries for management approval
- Communicate with Single Point of Contact, title vendors and Loss Mitigation Closing team to gather information and resolve account complications
- Adhere to applicable compliance/operational risk controls in accordance with Company or regulatory standards and policies
- Maintain M&T internal control standards, including timely implementation of internal and external audit points together with any issues raised by external regulators as applicable
- Promote an environment that supports belonging and reflects the M&T Bank brand
- Complete other related duties as assigned
Tags & Categories
Answer 10 quick questions to check your fit for Loss Mitigation Underwriter I @ M&T Bank.
10 Questions
~2 Minutes
Instant Score
Related Books and Jobs