Loss Mitigation Associate

Investors Bancorp, Inc. Dunellen, NJ
Job Description

RESPONSIBILITIES

To assist the Residential Loan Workout Officer in processing in a timely manner all residential workout modification requests for serviced in-house, serviced for others and serviced by others loans from request through final modification or final disposition. To assist in the processing of short sale requests for serviced in-house, serviced for others and serviced by others loans from request through final disposition

* Update daily the Residential Loan Workout pipeline report. Prepares provided documentation to present to the Residential Loan Workout Officer to determine whether hardship assistance is available based on approved guidelines.

* Document requested Hardship Assistance inquiries. Make contact with borrowers and external modification assistance companies and legal counsel regarding missing documentation, forms or other information required for continued review of Hardship requests.

* Review and respond to requests from FNMA and other entities we service for, looking for updates through various means of communication.

* Prepare correct documents for Hardship Assistance requests for the Residential Loan Workout Officers. Schedules and attends meetings with borrowers who have requested 'face to face' meetings to discuss accounts and assistance programs.

* Prepare in-house reports for Accounting and other departments including TDR reports, trend analysis and FNMA reporting.

SUPERVISORY RESPONSIBILITIES

FNMA and SBO Loss Mitigation areas to assist in processing hardship requests. Tactical relationship with customers.

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Requirements

* High School Degree or Comparable professional training.

* Two years mortgage servicing experience or two years of collection, foreclosure or real estate owned experience.

DESIRED

* Bachelors degree in Accounting, Finance, or other related field preferred.

* Background with FNMA or FHLMC preferred.

* Ability to work in a fast paced, highly detailed environment. Strong interpersonal and communication skill.