Loss Mitigation Specialist

Description

Position : Loss Mitigation Specialist

Department : Servicing

Reports To: Loss Mitigation Supervisor

Remote : YES or NO

Location: 7450 Campus Drive, Suite 200, Colorado Springs, CO 80920

Exempt : Non\-exempt :

Schedule: Monday through Friday with 2 mandatory Saturdays per month

Compensation \& Benefits: $24\.00 to $26\.00 hourly \+ Monthly Incentive Eligibility

Mortgage Solutions of Colorado, LLC d/b/a Mortgage Solutions Financial (“MSF”) offers a comprehensive benefit package and PTO (paid time off) for eligible employees. The benefit package includes Health, Dental and Vision Insurance, options to participate in a Health Savings Account, Flexible Spending Account, Life and AD\&D coverage, voluntary Supplemental Life, voluntary Short\-Term, Long\-Term Disability and Supplemental insurance. In addition, eligible employees have the option to participate in a company retirement plan.

About MSF

MSF is a national mortgage lender based in Colorado Springs. MSF strongly believes every client should be served with integrity, dignity, and respect. Without compromise, MSF is committed to providing loans that are in the best interest of our clients, not our bottom line. We will continue to educate the community by empowering our clients to make responsible and informed fiscal decisions that result in greater financial peace of mind.

Role Overview

The Loss Mitigation Specialist is responsible for managing a portfolio of delinquent residential mortgage loans to minimize financial loss for the company and its investors. This role requires a proactive approach to borrower outreach, utilizing advanced collection techniques and negotiation strategies to resolve defaults. The Specialist acts as a consultant to homeowners, evaluating complex financial data to offer viable alternatives to foreclosure. All employees are expected to uphold Mortgage Solutions Financials’ commitment to superior customer service, regulatory compliance, and high ethical standards.

Essential Duties:

• Execute default service policies and procedures in strict accordance with Mortgage Solutions Financial (MSF) guidelines and federal regulations (e.g., CFPB).
• Proactively contact borrowers with delinquent accounts to negotiate repayment plans, loan modifications, or other "workout" options to cure delinquencies.
• Maintain meticulous, real\-time documentation within the MSP (Mortgage Servicing Package) loss mitigation workstation to ensure a clear audit trail.
• Analyze borrower financial statements, including tax returns, pay stubs, and credit reports, to determine the most appropriate loss mitigation strategy.
• Prepare and present formal loss mitigation and workout proposals to the Director of Default for final approval.
• Coordinate with external stakeholders, including GNMA/FHLMC/FNMA, real estate brokers, agents, and legal counsel, regarding short sales, deeds\-in\-lieu, or settlement offers.
• Ensure all workout options comply with specific investor (FHA, VA, USDA, etc.) and PMI (Private Mortgage Insurance) requirements.
• Provide high\-touch support by resolving complex customer inquiries via phone, email, and chat with a focus on first\-call resolution.
• Participate in ongoing training and perform additional duties as assigned to support department goals.
• Regular, Reliable and predictable onsite attendance is an essential function of this role.
• Other duties as assigned.

Qualifications

Knowledge Skills \& Abilities

• Mastery of loss mitigation tools and the MSP servicing system; competent in calculating debt\-to\-income (DTI) ratios and analyzing financial hardship.
• Industry Knowledge: Deep understanding of GNMA, FNMA, FHLMC, and FHA/VA loss mitigation waterfalls and reporting requirements.
• High\-level oral and written communication skills, with the ability to explain complex financial terms to distressed borrowers in an empathetic yet professional manner.
• Strong proficiency in Microsoft Office (Excel and Word) for data entry, spreadsheet management, and document preparation.
• Proven ability to negotiate effectively to reach mutually beneficial agreements between the borrower and the investor.
• Comprehensive knowledge of loan servicing functions, including escrow, payoffs, cashiering, and ARM adjustments.
• Ability to work independently in a fast\-paced environment, prioritizing high\-volume caseloads to meet strict monthly delinquency reduction goals.
• Acute focus on accuracy regarding investor guidelines and Private Mortgage Insurance (PMI) practices to prevent "repush" or claim denials.

Experience \& Education

• Bachelor’s degree in business related field or a combination of education and experience.
• 4 \+ years’ experience in collections or customer service role in a mortgage servicing environment.

Physical Requirements

• Stationary position; prolonged periods at a desk and working on the computer.
• Occasional movement about inside the office to walk to offices and office machinery.
• Periodic lifting to 10 pounds, stooping, bending, standing, reaching.

MSF is an equal opportunity employer. All candidates for employment are considered equally, and no distinction is made based on race, color, national origin, age, religion, disability, sex, sexual orientation, gender identity, gender expression, marital status, genetic information, or veteran status. MSF is also committed to providing qualified applicants and employees reasonable accommodation, when necessary, to enable the individuals to complete the application process and/or perform the essential functions of the job. An applicant and/or employee requiring reasonable accommodation to perform any essential job function, should contact Human Resources.