Loss Mitigation Specialist

This is a fully remote position, open to applicants in Arizona, +22 more states.

📋 Description

• Oversee a dynamic pipeline of delinquent accounts that necessitate loss mitigation evaluation, follow-up, and resolution.

• Analyze borrower financial information, hardship situations, and supporting documentation to assess eligibility for loss mitigation solutions.

• Assess and propose repayment plans, payment deferrals, loan modifications, voluntary surrenders, and other retention or liquidation options.

• Engage with borrowers regarding available options, required documentation, decisions, expectations, and subsequent steps.

• Maintain consistent follow-up to advance files towards prompt resolution.

• Refer complex borrower cases and exceptions to leadership, Compliance, Legal, or servicing resources as needed.

• Act as the subject matter expert for the Loss Mitigation program and borrower assistance processes.

• Develop and formalize a scalable operational model for Loss Mitigation.

• Create, document, implement, and enhance procedures, workflows, decision trees, documentation standards, and escalation paths.

• Identify operational gaps, inefficiencies, manual processes, and risks, and propose solutions.

• Establish processes for intake, financial assessment, eligibility determination, approval, documentation, execution, monitoring, and completion.

• Collaborate with leadership to outline roles, responsibilities, service-level expectations, and transitions.

• Generate and maintain reports on pipeline activity, aging, approvals, denials, resolutions, borrower outcomes, and trends.

• Monitor portfolio and pipeline performance to detect bottlenecks and opportunities for improvement.

• Assist with KPIs and performance expectations.

• Conduct account and data analysis to inform operational decisions and enhance programs.

• Develop quality assurance and control processes.

• Ensure accurate and prompt documentation within servicing systems.

• Work with Compliance and Legal on regulatory, investor, bankruptcy, and internal requirements.

• Collaborate with Collections, Customer Service, Bankruptcy, Legal, Underwriting, and servicing teams.

• Create training materials, job aids, procedures, and internal resources.

• Support the onboarding and development of future Loss Mitigation team members.

⛳️ Requirements

• At least three years of experience in mortgage servicing.

• Three to five years of direct experience in Loss Mitigation, including borrower hardship evaluation and the recommendation or administration of workout solutions.

• Three to five years of collections experience, ideally within mortgage servicing, manufactured housing finance, or consumer lending.

• Understanding of hardship letters, income documentation, bank statements, pay stubs, and financial statements.

• Strong knowledge of mortgage servicing, default servicing, delinquency management, bankruptcy processes, and loss mitigation workflows.

• Capability to manage an active pipeline while balancing priorities, deadlines, borrower needs, and operational requirements.

• Experience in developing, improving, or documenting operational processes and procedures.

• Excellent analytical and problem-solving skills.

• Proficient in Microsoft Excel, including filtering, sorting, pivot tables, lookups, data analysis, and handling large datasets.

• Outstanding written and verbal communication skills for sensitive and intricate conversations with borrowers.

• Exceptional attention to detail and precise documentation.

• Ability to work autonomously, apply sound judgment, and take ownership of initiatives from implementation to completion.

• Preference for experience in manufactured housing and/or chattel loan servicing.

• Five or more years of experience in manufactured housing, chattel lending, mortgage default servicing, or a related servicing environment is preferred.

• Familiarity with FICS or a comparable loan servicing platform is preferred.

• Experience interpreting investor-specific loss mitigation and servicing requirements is preferred.

• Awareness of CFPB servicing requirements and consumer financial regulations is preferred.

• Experience in establishing or enhancing Loss Mitigation, Default Servicing, or borrower assistance functions is preferred.

• Experience with operational reporting, dashboards, quality controls, or workflow improvements is preferred.

• Experience with system implementations, process automation, or enhancements in servicing technology is preferred.

• Bilingual English/Spanish skills are an advantage.

• Must reside in one of the eligible U.S. states listed in the posting.

• Employment eligibility will be verified through E-Verify.

🏝️ Benefits

• Competitive salary with potential for annual bonuses and variable pay based on skills and experience.

• Equity in the company offered to all employees.

• Flexibility for remote work and work-from-home arrangements in a remote-first environment.

• Medical, dental, and vision insurance coverage.

• Company-subsidized short-term disability, long-term disability, and life insurance for employees and their families.

• Medical and dependent care flexible spending accounts.

• Support for training and licensing.

• Generous paid time off policy.

• Access to wellbeing resources through Sequoia Wellbeing Programs, including Headspace, Gympass+, Fetch, Spring Health, SoFi, Perkspot, and Ladder.

• Paid parental leave.

• No Meeting Wednesdays.

• Opportunities for career growth and internal promotions.

• A collaborative, supportive, diverse, and inclusive culture.

• Guidance, mentorship, and support from approachable leadership.

• Chance to contribute to a growing team and a mission-driven affordable housing business.

• Opportunity for innovative work in the manufactured housing market.

• Make a meaningful impact in helping to make housing more affordable.