Available Positions

Loss Mitigation at Financial Services in Cleveland, Ohio, United States — $45K-$50K

  • Banks/Brokerage
  • Financial Services
  • $45K-$50K
  • Cleveland, Ohio, United States
  • 7/20/19

Job ID: 35645

Job Description

Green Key Resources is seeking a Senior Loss Mitigation Specialist for a bank in Cleveland, OH.

A Senior Loss Mitigation Specialist, working under limited supervision, applies broad knowledge and experience in assisting customers that are in a loan default situation to find solutions to maintain home ownership or to identify and discuss property liquidation options when a modification is not appropriate. Reviews and coordinates routine to complex workouts and and or coordinates short sale liquidations. May be assigned as Single Point of Contact or underwriter for borrowers. Maintains compliance with established departmental, Federal and State guidelines and regulations. Provides subject matter expertise and assistance to department staff with complex and and or escalated transactions.


Applies indepth loan workout experience in the review of routine to complex workout requests to determine borrower eligibility based on established guidelines, coordinates submission for all appropriate approval levels, and coordinates contacts with borrowers and investors and insurers to finalize terms for approval. Available to assist the bank in mediation hearings or trials relative to loans in foreclosure. Reviews routine to complex workout requests and financial packages. Determines borrower eligibility for various workout options based on guidelines established by investors, insurers and management. Initiates contact with borrower to discuss the initial review and determine their financial ability, intent, reason for default, and recommend the appropriate retention solution. Activates appropriate workout alternative on the loss mitigation module based on comparison to established guidelines. Ensures that dual tracking does not result in conjunction with the foreclosure team. Negotiates and formalizes repayment or forbearance arrangements with customers when appropriate.





High school diploma or equivalent. Some college preferred. Minimum two years of experience as a Loss Mitigation Specialist or equivalent experience in default risk management, mortgage loan origination or underwriting.

Broad knowledge and understanding of mortgage and title documents, credit reports, appraisals, default servicing, loan default legal process and legal terminology.

Broad knowledge of Fannie Mae, Freddie Mac, FHA, VA, OFHA, private investor guidelines, Fair Debt Collection Practices and generally accepted accounting principles.

Computer literate with intermediate proficiency in internet navigation, word processing, spreadsheet and database applications.


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