Lead, Loss Mitigation

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 Lead plays an important role in the organization by performing a variety of activities related to the company’s Loss Mitigation functions. The lead will serve as a point of escalation for the loss mitigation team and provides right-hand assistance to the loss mitigation Supervisor in managing the loan-level pipeline and project management. The role is responsible for working with different investors to decide retention/liquidation eligibility for borrowers experiencing different hardships. The Loss Mitigation Lead conducts timely, accurate, and compliant reviews of files by investor guidelines and National Servicing Standards. Works with various investor applications to obtain workout results. This individual will be handling escalated SPOC calls.

Compensation

This role is a non-exempt position with a targeted salary range of $24.23/hour to $33.39/hour.

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

• Subject Matter Expert knowledge for job aid/ procedure updates.
• Assist with project/system changes with on-the-job knowledge.
• Prepare testing examples, user case testing and post-install verification.
• Provide an oversight for production efficiency tracking. Follow-up with team member for additional responses when necessary.
• Handles complex loan issues and escalations.
• Provide side-by-side training assistance to specialists, including quality monitoring issues.
• Proactively provide tracking assistance to the workout pipeline.
• Assure that all deadlines are met proactively and seek efficiency-efficient solutions.
• Provide audit assistance.
• Stay current on changes in industry regulations, and recommend updates to internal policies, procedures, policies, and systems based on new/changed requirements.
• Assist with escalated concerns questions/concerns.
• Escalate urgent matters to management.
• Request and gather supporting documentation required to create complete loan workout packages within required timeframes that comply with investor, insurer, state, federal, and CFPB guidelines.
• Follow up on outstanding issues to ensure the decision process is completed on time and in accordance with regulations and guidelines.
• Order date downs and/or title endorsements for modifications.
• Obtain necessary title clearance and obtain required subordination documentation, including agreements.
• Prepare all income/expense calculations to ensure compliance with agreed-upon standards, and verify as needed.
• Develops workout recommendation that fits customers such as repayment, short sale, modification, etc.; uses income and financial documents to underwrite potential workout options.
• Participate in activities and projects designed to improve business performance.
• Work well in communication with the management team, other departments and escalate issues as needed.
• Properly update any internal tracking and investor / Mortgage Insurer systems.
• Run waterfall calculations to finalize the best workout options.
• Track receipt of signed loan modifications and explain loan modification terms to borrowers.
• Create workout offers or final workout agreements.
• Underwrite plan modifications and reconcile and settle accounts.
• Draft closing agreements and close loan modifications upon trial completion; ensure all modification agreements are notarized.
• Perform other duties as assigned.

Qualifications

• High School Diploma or equivalent, required.
• Bachelor's Degree directly related to the position or equivalent, required.
• College courses or a bachelor’s degree in finance, Business, or a related field preferred.
• Minimum five years experience working in loss mitigation roles, specifically as a loss mitigation underwriter.
• Bi-lingual preferred.
• Able to oversee production requirements and assist other teammates with questions and support.
• Strong working knowledge of FNMA/ FHLMC/ FHA/ VA 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 interpersonal and problem-solving skills.
• Highly organized and detail-oriented; ability to work in a fast-paced, department-metrics-driven environment required.
• Intermediate math skills required. Analytical thinking.
• Familiarity with document retention software; Blitzdoc /ICE 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:  Problem solving involves evaluating and resolving discrepancies with people, data, analyses, processes, etc. within prescribed program/project guidelines; may also involve resolving basic resource coordination and availability.

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

• Work is primarily sedentary; mobility in an office setting.
• Ability to operate standard office equipment and keyboards.
• 10-key by touch is strongly preferred.
• 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.
• Office environment – moderate noise, no substantial exposure to adverse environmental conditions.
• 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.
• 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#: LEADL018298