Is a Job in Loss Mitigation Right for You?
Job Description
A typical VP of Loss Mitigation is responsible for leading the servicing activities of a real estate portfolio of a bank’s home loans. Loss mitigators must develop and maintain operational strategies and protocols. You’ll be responsible for reviewing high risk, and severely delinquent portfolios of home loans for Loss Mitigation opportunities.
You will review income as well as modification files to ensure compliance with bank guidelines. You will likely be responsible for developing and maintaining operational strategies and procedures. Your job will probably include reviewing and completing daily or weekly control reports.
Typically you will monitor Loss Mitigation workout performance and loss severity trending. You may also be responsible for communications with internal management, external clients and rating agencies.
Loss mitigators are very busy right now and these positions look like they’ll be required for the foreseeable future. As long as homes are going into foreclosure loss mitigation jobs will will continue to be in supply. In this role you need to be able to communicate effectively with borrowers as well as internally at that the lending institution.
Think you have what it takes to be successful in a loss mitigation job? Apply above!