Loss Mitigation-MOD Processor

Job Summary:

The Loss Mitigation MOD Processor should have a strong working knowledge of Loss Mitigation
documents and procedures, ensuring the accurate and compliant processing of modification
agreements for our clients. This role involves collaborating with various stakeholders, including
internal teams and external partners, to facilitate timely and efficient loss mitigation processes.

Duties:

• Information Gathering: Gather and review all necessary information to prepare accurate and
  compliant closing packages. This includes ensuring the inclusion of state and investor-required
  forms and final closing figures.
• Loss Mitigation Documents: Demonstrate a working knowledge of Loss Mitigation documents,
  including Special Forbearance letters, Trial Payment Agreements, Loan Modification Agreements,
  Subordinate Loan Agreements, Partial Claim Promissory notes, and title reports.
• Flagstar Bank GNMA Exceptions: Address Flagstar Bank GNMA exceptions promptly and
  efficiently to resolve any issues related to loss mitigation.
• Post-Modification Corrections: Identify and rectify any post-modification corrections needed at
  Flagstar Bank, ensuring the accuracy of modification calculations and documents.
• Document Generation and Pipeline Management: Ensure timely generation of modification
  agreements within 30 days from the last Trial Payment Plan (TPP) payment. Manage the pipeline
  effectively, updating it every 48 hours to track progress and deadlines.
• Fay Modification Implementation: Ensure the accurate implementation of Fay Modifications and
  attend to all tasks related to the implementation process.
• Loan Follow-ups: Regularly follow up on loans by monitoring daily reports, including the
  Recording Hold Report, FSB Buckets 2.1, 2.7, and 2.8, and Ruth Ruhl reports. Take appropriate
  actions based on the findings to keep the process on track.

Required Qualifications:

• Degree in Economics or any relevant field
• Have overall knowledge of mortgage loan servicing and loss mitigation with a focus on
  modifications is an added advantage.
• Ability to work independently, as well as part of a group/team.
• Strong analytical skills and attention to detail.
• Exceptional organizational and critical thinking skills.
• Self-motivated, detail-driven, highly responsive and have strong initiative and drive.
• Must be flexible, and organized, and can manage multiple priorities and meet strict deadlines
  in a fast-paced environment.
• Gather and review all required information to prepare an accurate and compliant closing
  package including state and investor-required forms and final closing figures.

Please note that only shortlisted candidates will be contacted