Loss Mitigation Specialist - 'Best Place to Work' in 07 for the third year in a row!

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 Voted one of the "Best Places 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.

Summary:

We are looking for a Loss Mitigation Specialist in our Walnut Creek, CA office. The Loss Mitigation Specialist will manage the daily processes associated in the analysis and completion of mortgage loan workout submissions in an effort to minimize or eliminate claim payments. This role analyzes 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. Incumbents provide quality customer service to our Servicing Customers adhering to department standards.

Responsibilities: Analyze 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. 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. Accurately and promptly document systems related to loss mitigation activities and monitor results with customers. Maintain department standards associated with response and decision times for loss mitigation submission processing. Respond in a timely and effective manner to all client inquiries either through telephone, voice-mail, e-mail or written correspondence. Negotiate Borrower participation (e.g. Promissory Notes and cash remittances) on pre-foreclosure sale submissions in order to minimize losses associated with the transactions. Negotiate real estate offers (e.g. closing costs, purchase price and commissions) in order to minimize losses associated with the transactions. Prepares and presents loan workout proposals for senior management review and approval. Educate customers on PMI Policy and Procedures. Interacts with Legal, Claims, Policy Servicing, Investigations.

Requirements: Knowledge and Skills: Communicates orally with internal departments and external clients, Borrowers and vendors to exchange or request work-related information frequently. Composes written correspondence directed to internal departments and external clients frequently. Compose internal documents and/or materials occasionally. Negotiates or facilitates arrangements with Borrowers for repayment of agreements. Ability to add, subtract, multiply, divide in all units of measure using whole numbers, common fractions, and decimals. Ability to compute rate, ratio and percent and to draw and interpret bar graphs. Fundamental accounting/bookkeeping. Possess intermediate knowledge and understanding of computer operations and computer technology. Examples include Microsoft Office XP Professional and Access.

Education & Experience: Associates or Bachelors degree (BA) preferred with a concentration in Finance, Economics or Business. Five plus years mortgage loan-servicing experience with emphasis on loss mitigation. Suitable alternative loan servicing experience in foreclosure, bankruptcy and/or collection departments.

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