Job Information
Hancock Bank Loss Mitigation Processor R013327 in Gulfport, Mississippi
This is a Loss Mitigation Processor position located in the Gulfport, Ms area.
JOB FUNCTION / SUMMARY: Loss Mitigation Coordinators originate, compile and analyze Loss Mitigation (LM) mortgage applications for completeness to ensure they meet guidelines for modification and/or LM product requested. Prepares monthly reports, balances GL's, performs Quality Control and ensures various forms are processed timely and correctly. As well as, ensuring files comply with regulatory and legal guidelines.
ESSENTIAL DUTIES & RESPONSIBILITIES: Responsible for reviewing monthly and daily delinquency reports to prepare and mail LM solicitation packages to all eligible mortgage clients in compliance with regulatory requirements. Provides service to clients seeking mortgage loan modification and LM alternatives and interviews applicants to develop information concerning their needs to assist in determining possible loss mitigation alternatives. Reviews and evaluates clients for all LM alternatives including short sales, deeds in lieu, modifications and repayment plans. This includes obtaining, reviewing and analyzing all employment, income and asset documentation to ensure accuracy and satisfaction of modification requirements. Obtains necessary documents to order appraisals and title searches for residential properties. Reviews appraisals to ensure they meet investor and bank requirements and the value conclusion is reasonable and well supported. Examines the title report to ensure the Bank's lien position is correct and/or the Bank can obtain clear title on LM requests such as deeds in lieu or short sale requests. Confirms client's credit meets the modification requirements by reviewing credit history and scores. Analyzes all documents and information for potential fraud or misrepresentation and for regulatory and CFPB compliance. Communicates LM decision (denial, approval, and/or conditions for approval) to the client and/or attorney representing the client. Assembles documents in loan files and remits files to LM Supervisor for review. Reviews and approves closing documents for short sales and deeds in lieu. Provides required documentation to DAC for modification preparation and closing. Develops and maintains database on modification and LM requests, including statistics on approvals, denials and other FDIC required tracking metrics. Ensures proper approval is received to send various forms for processing and ensures forms are processed timely and correctly. Keeps track of forms with outstanding credit decisions or errors and follows up on decisions and corrections. Identifies ways to ensure logs are accurate and up to date and that processes and procedures are current at all times. Balances General Ledgers and works with other department to ensure corrections are made in a timely manner for month end balancing. Ensures there is properly approved support for all General Ledger entries. Performs Quality Control monthly and archives results for departmental use. Provides monthly reports to various departments to ensure adherence to processes and procedures.
SUPERVISORY RESPONSIBILITIES: None
MINIMUM REQUIRED EDUCATION, EXPERIENCE & KNOWLEDGE: Associate's degree and three years related experience and/or training required. Three to four years of mortgage banking experience in a processing, closing or underwriting environment required. An equivalent combination of education, training and experience may be considered. Basic understanding of financial and credit data. The successful completion of business administration, accounting and/or finance courses is preferred.
ESSENTIAL MENTAL & PHYSICAL REQUIREMENTS: Ability to travel if required to perform the essential job functions. Ability to work under stress and meet deadlines. Ability to operate related equipment to perform the essential job functions. Ability to read and interpret a document if required to perform the essential job functions. Ability to lift/move/carry approxima ely 10 pounds if required to perform the essential job functions. If the employee is unable to lift/move/carry this weight and can be accommodated without causing the department/division an "undue hardship" then the employee must be accommodated; hence omitting lifting/moving/carrying as a physical requirement.
Equal Opportunity/Affirmative Action Employers. All qualified applicants will receive consideration for employment without regard to race, color, religious beliefs, national origin, ancestry, citizenship, sex, gender, sexual orientation, gender identity, marital status, age, physical or mental disability or history of disability, genetic information, status as a protected veteran, disabled veteran, or other protected characteristics as required by federal, state and local laws.