Loss Mitigation Specialist - Voted 'Best Place to Work' in the Bay Area!

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 Voted one of the "Best Place to Work" in the Bay Area for 2007!

We are proud to be recognized as one of the best places to work in the Bay Area in 2007 according to a recent survey conducted by the San Francisco Business Times, the East Bay Business Times and the San Jose Business Journal. PMI offers a dynamic environment where individual ideas and talent are encouraged to develop. We are dedicated to teamwork and a supportive and stable work environment. Our employees often refer to themselves as the "PMI Family" because of the strong personal ties within the organization and the company's commitment to ethical business practices and the welfare of its employees.

We are looking for a Loss Mitigation Specialist to join our Loss Mitigation department located in Walnut Creek, Ca. The Loss Mitigation Specialist manages the daily processes associated in the analysis and completion of mortgage loan workout submissions in an effort to minimize or eliminate claim payments. The incumbent reviews borrower financial information including but not limited to credit bureau reports, real estate valuations in conjunction with state statutes and PMI policies to determine the best workout resolution. The incumbent provides optimum customer service while adhering to Department standards and procedures.

ESSENTIAL RESPONSIBILITIES AND ACCOUNTABILITIES
1. Analyzes and process mortgage loan workout submissions (Loan Modifications, Pre-foreclosure Sales, Deeds-in-Lieu of Foreclosure, Repayment Plans and Pre-claim advances) to ensure customers are adhering to PMI loss mitigation policies and procedures and to minimize PMI losses.
2. Reviews delegated loan workout submissions to ensure mortgage loan servicing customers are adhering to PMI delegated loss mitigation procedures. Periodically reports to senior management regarding servicing compliance.
3. Accurately and promptly enters case status information into claims/loss mitigation tracking systems to monitor results with customers.
4. Maintains Department standards associated with response and decision times for loss mitigation submission processing.
5. Responds in a timely and effective manner to all client inquiries either through telephone, voice mail, e-mail or written correspondence.
6. Negotiates with the lender or loan servicer regarding borrower participation (e.g. Promissory Notes and cash remittances) on pre-foreclosure sales and Deeds-in-Lieu of Foreclosure submissions in order to minimize losses associated with the transactions.
7. Initiates early delinquency intervention by referring borrowers to credit counseling services in order to preserve home ownership.
8. Prepares and presents the more complex loan workout proposals for management review and approval. Handles standard workouts independently.
9. Educate customers on PMI Loss Mitigation policy and procedures.
10. Provides bidding instructions to limit the Company’s loss exposure at the foreclosure sale.
11. Interacts with: Legal to obtain advice and consultation regarding policy interpretation; Claims regarding final workout status/amount; Policy Servicing to coordinated reinstatement of coverage; and Investigations if/when fraud is suspected.

JOB SPECIFICATIONS Knowledge and Skills
1. Fundamental accounting/bookkeeping and suitable mathematical skills.
2. Proficient computer skills.
3. General knowledge of mortgage banking and real estate practices and terminology.
4. Ability to make decisions based on technical knowledge and available guidelines and procedures.
5. Effective problem solving skills.
6. Sound communication skills (verbal and written) to deal with external lenders/services and exchange information.
7. Strong analytical and negotiation skills.

Education & Experience:

Required knowledge and skills would typically be acquired through an Associate’s degree with a concentration in business and/or five plus years of related experience in mortgage loan servicing.

Due to the volume of resumes, we ask that you not contact Human Resources regarding this position. If you are selected, a recruiter will contact you directly. Thank you for your cooperation!

Click here to apply for this position!