Job Description
Who We Are
At Newrez, we bring big thinkers and caring doers together to make home happen. We’re a team built on heart and hustle, united by a commitment to show up for our customers, our communities, and each other. We believe that when our people thrive, homeowners thrive - and that’s why we invest in your growth, wellbeing, and ability to make an impact.
Every day, we work to exceed the expectations of our residential mortgage borrowers and business partners through superior service, simple processes, and clear communication. We do this by empowering our employees, encouraging innovative solutions and recognizing great performance.
Primary Function
The Loss Mitigation Fulfillment Specialist II is responsible for maintaining timely processing for all administrative aspects of Loss Mitigation Fulfillment workflow to ensure accurate programs are calculated, accounted for, and documented within the servicing system according to Investor guidelines, to include all production of Modifications, Partial Claims, Deferments, and any other applicable Loss Mitigation Workout programs. Performs underwriting, document intake, modification processing, and recordation as required by various jurisdictions, processing pre-foreclosure evaluations, and providing a second look review for any denied workout and performing reviews for any in-flight workouts for transferred loans.
Principal Duties
- Timely creation of accurate financial terms according to individual investor program guidelines to produce final Modification, Partial Claim, and Deferment documents to be sent to homeowners
- Underwriting based on qualifying investor criteria to certify approvals for modifications
- Calculate modification terms according to various investor rules and waterfalls
- Perform QC to ensure mathematical calculations for capitalization and new loan terms are accurate
- Timely intake and system documentation of Modification, Partial Claim and Deferment documents received
- Provide instruction to Cash department with specifics for booking Modifications, Partial Claims and Deferments and ensure all terms are correctly updated within the servicing system
- Process Settlements for Modifications and Deferments in GSE systems within required timeframes
- Facilitate loan buyout from GNMA pools, when necessary, prior to any modification of loan terms according to GNMA guidelines
- Perform pre-foreclosure reviews for qualifying accounts to ensure all reasonable efforts to avoid foreclosure have been met according to regulatory guidelines
- Produce Loss Mitigation Certification documents when required for Foreclosure actions to proceed
- Perform Pre-sale reviews prior to foreclosure sale and provide documentation thereof
- Send Modification documents to the appropriate jurisdiction for recording within required timeframes
- Review and remediate county recording rejections to record modification documents and obtain title policy
- Send recorded collateral documents to document custodian once recorded within investor guidelines
- Perform review to ensure proper status for any in-flight transferred loan
- Performs related duties as assigned by management.
Education and Experience Requirements
- A 4-year college degree in Business Administration or another analytical field preferred
- Minimum of 2 years’ experience in Mortgage Servicing or an Accounting field
Knowledge, Skill, and Ability Requirements
- Excellent Mathematical Skills
- Detailed knowledge of Loss Mitigation program guidelines
- Proficient with Microsoft Excel, Word
While this description is intended to be an accurate reflection of the position’s requirements, it in no way implies/states that these are the only job responsibilities. Management reserves the right to modify, add or remove duties and request other duties, as necessary.
Additional Information:
While this description is intended to be an accurate reflection of the position’s requirements, it in no way implies/states that these are the only job responsibilities. Management reserves the right to modify, add or remove duties and request other duties, as necessary.
All employees are required to have smart phones that meet Company security standards with the ability to install apps such as Microsoft Authenticator. Employment will be contingent on this requirement.
Why Newrez
We’re a great place to work because we invest in what matters: your career, your community, your wellbeing, and your future. Our total rewards package is designed to support your whole self.
Company Benefits:
We offer benefits, programs, and perks that support you in every aspect of your life.
Medical, dental, and vision insurance
Health Savings Account with employer contribution
401(k) Retirement plan with employer match
Paid Maternity Leave/Parental Bonding Leave/Caregiver Leave
Adoption Assistance
Tuition & Certification reimbursement
Employee Mortgage Loan Program
The Newrez Employee Emergency and Disaster Fund is a program to support our team members experiencing hardships
Newrez NOW:
Through Newrez NOW, our Corporate Social Responsibility program, you’ll have opportunities to give back, lead, and make a difference.
1 company-paid Volunteer Time Off day (with over 40,000 volunteer hours contributed since our inception)
Matching Gifts Program - dollar-for-dollar up to $1,000
Access to grants, nonprofit resources, and volunteer opportunities
More than $6,000,000 donated since 2020
1 in 5 employees participates in at least one Employee Resource Group (ERG)
Equal Employment Opportunity
We're proud to be an equal opportunity employer- and celebrate our employees' differences, including race, color, religion, sex, sexual orientation, gender identity, national origin, age, disability, and Veteran status. Different makes us better.