Position Summary
The Loss Mitigation Single Point of Contact (SPOC) serves as a primary contact for Loss Mitigation activities. This role works directly with borrowers experiencing financial hardships to identify homeownership retention options for eligible FNMA, FHLMC, USDA, FHA, and VA loans. Key responsibilities include missing document follow-ups, communicating workout evaluation decisions, monitoring trial payment plans, and educating borrowers on programs in accordance with investor, insurer, state, and federal guidelines.
Essential Functions
Serve as a subject-matter expert for assigned loan products to ensure regulatory and investor compliance, explaining options and documenting communications within the servicing system.
Communicate workout evaluation outcomes (approvals or denials), including modifications, payment deferrals/partial claims, forbearance, short sales, and Deed in Lieu (DIL) workouts.
Coordinate and track necessary documentation with borrowers to complete Loss Mitigation applications.
Manage an assigned work queue independently to ensure accurate, complete, and timely borrower communication.
Assist with borrower mediations, meetings, and calls, providing options and obtaining outstanding lien or judgment information.
Assist with internal/external audit preparations, post-audit findings, and exam activities.
Guide potential successors through documentation requirements to establish successor-in-interest status.
Review written communications before sending them to borrowers to ensure completeness and accuracy.
Respond to escalated borrower calls, delivering detailed explanations regarding calculations, criteria, and decisions.
Ensure adherence to federal, state, and local laws, internal compliance policies, and complete required compliance training.
Stay current on industry regulation updates and recommend improvements to internal policies, procedures, and systems.
Actively participate in the Call Quality program to support continuous improvement.
Collaborate with default servicing team members to proper loan handling and prevent dual tracking.
Monitor loan inventory in-process to identify deviations from standard processing times and escalate issues to management when appropriate.
Perform other related duties as assigned.
Qualifications & Experience
Education & Experience Requirements
Education: Bachelor’s degree in a directly related field (or equivalent combination of education and experience) preferred.
Experience: Minimum of two (2) years of experience in a mortgage loss mitigation role required.
Supervisory Experience: None required (0 direct or indirect reports).
Key Skills & Knowledge
Strong working knowledge of conventional and government mortgage loan documents, federal debt collection laws, Federal Bankruptcy Laws, and related legal procedures.
Knowledge of Standard Operating Procedures associated with CFPB, FCRA, TCPA, and FDCPA preferred.
Ability to work in a demanding, fast-paced, metrics-driven environment with patience and professionalism while assisting consumers in financial distress.
Strong interpersonal, critical thinking, problem-solving, and organizational skills.
Proficiency in Microsoft Office Suite (Word, Excel, Outlook), basic internet searches, data entry, and cloud-based applications. Advanced math skills, familiarity with document retention software, and 10-key by touch are strongly preferred.
Role Scope & Working Conditions
Job Scope & Authority
Job Scope: Requires an understanding of department goals and how individual contributions support those goals.
Complexity: Involves evaluating options based on established practices; budget decisions must be referred to a supervisor.
Impact: Actions directly affect the outputs and results of the immediate work team.
Supervision: Operates under general supervision following established procedures. May guide less experienced staff.
Work Environment & Physical Demands
Schedule: Primarily Monday – Friday during standard business hours.
Physical & Environmental: Sedentary office environment with moderate noise. Frequent use of a computer keyboard and mouse.
Audio/Visual & Mental: Requires ability to interpret audio/visual information at standard conversation levels, adapt to workplace stressors, adhere to process protocols, and complete workflow tasks independently.