Loss Mitigation Solicitor

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Solicitors are responsible for contacting borrowers that are in foreclosure to educate them on options available to resolve their delinquency. They obtain information sufficient to review loss mitigation options, and to make proper recommendations.


Essential Job Functions
Initiate contact with customers who have defaulted on their mortgages. Contact is made through phone calls and use of a predictive dialer.
Respond to customer inquiries regarding mortgage defaults and loss mitigation options.
Evaluate the customer’s financial ability, reason for default, and ability to make payment.
Recommend and initiate loss mitigation options that are appropriate to the situation.
Negotiate and formalize repayment arrangements with customers in foreclosure when appropriate. This includes verifying arrears, formulating terms of repayment, drafting stipulated repayment agreements, and insuring that the initial terms and conditions of the agreement are met.
Coordinate and facilitate initial loss mitigation efforts with associated departments, foreclosure counsel, investors, and mortgage insurance companies.
Document stipulated repayment terms to ensure the agreements can be monitored.
Communicate with attorneys on loss mitigation efforts and arrangements.
Initiate and monitor research on accounts as required.

Requirements
Education
High School diploma or comparable experience

Experience
Prior experience in debt collection required. Mortgage Banking preferred (specifically, back-end collections, loss mitigation or foreclosure experience)
Skills & Knowledge
Ability to work under stringent deadlines stressing urgency to achieve monthly goals
Ability to analyze loans to make good business decisions
Ability to handle multiple tasks
Ability to present a professional image and demeanor to internal and external customers
Ability to communicate effectively both orally and in writing Basic knowledge of PCs and related software such as Excel and Word
Demonstrated organizational skills and ability to handle confidential material
Demonstrates professional behavior and teamwork, punctual, dependable and adheres to company policies and procedures.
Accepts other duties as assigned.


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