Job Description
Join a winning team of innovative thinkers, seasoned mortgage professionals, and financial experts. Build your career at Planet —recognized as a Top Mortgage Employer by National Mortgage Professional. Job Summary The Mitigation Coordinator - Bilingual follows established guidelines to manage a portfolio of defaulted loans and mitigates losses by negotiating with our borrowers, investors, and realtors to develop and implement appropriate solutions to avoid foreclosure. Determine strategies for resolution on severely delinquent loans. Utilize property evaluation skills to make recommendations to management for negotiated pay-offs, and charge-offs. Resolves title issues on properties listed for sale and deeds for lieu of foreclosure. As a bilingual representative, this position handles inquiries and interactions in the customer’s preferred language. Essential Duties and Responsibilities Contacts mortgagors and others as appropriate to negotiate and arrange resolution of defaulted loans. Utilizes creativity in determining and recommending alternative collection or loss mitigation methods such as modifications, short sales, deeds in lieu of foreclosure, reinstatements, in the most cost effective manner. Analyzes mortgagors for approval of HAMP or traditional modification. Reports modification results to investors or federal agencies as required. Implements approved alternative collections or loss mitigation methods. Orders and evaluates property opinions (BPO, REO Appraisals), and assigns a reconciled value to determine feasibility of a short-sale, or charge-off. Maintains required records for modifications, short-sales, deeds in lieu of foreclosure, and reinstatements. Completes assignment of loans and determines if there is an alternative to foreclosure. Preserves and secures vacant properties in a pre-REO status. Maintains knowledge of foreclosure, modification, and collection laws and regulations of each state for the portfolio assigned. Performs other duties as ass
