Loss Mitigation Underwriter

---

Job description

Our client, a highly regarded Mortgage Loan Services provider in the Chicago area, is looking to add a Loss Mitigation Underwriter. This position will be responsible for the following functions:The Loss Mitigation Underwriter will conduct a complete loss mitigation evaluation for borrowers by fulfilling the following functions: - Review and analyze borrowers financial documents, including financial statements, hardship letter, tax returns, bank statements, pay stubs, profit and loss statements, awards letters, and credit bureau reports.- Analyze borrowers ability to afford a loan modification based upon documented income, assets, and monthly obligations and expenditures.-Determine borrower eligibility for loss mitigation workouts based upon proprietary, GSE, HUD, and MHA/HAMP criteria.-Calculate modification principal balance capitalization for approved retention options, taking into account past due interest, escrow, and 3rd party advances.-Run a pro forma escrow analysis to ensure proper modification escrow payment calculations. - Responsible for documenting the MSP Director Premier Loss Mitigation Workstation (notes, steps), generate appropriate letters and/or tasks, as well as adding documentation to Meridian/Doc Velocity to substantiate the loss mitigation decision made for each account.- Maintain strict adherence to all client guidelines, state and federal laws and regulatory requirements, including compliance policies and time lines.-Establish a strong working relationship with other departments and establish lines of communication. -Other duties and projects as assigned.-At least three years of recent loss mitigation underwriting experience-Knowledge of current mortgage regulatory guidelinesExperience:Loss Mitigation Underwriting: 2 years (Required)Location:Chicago, IL 60601 (Required)