Loss Mitigation Underwriter, Specialist VI in Amherst, NY at Key Bank- Corporate

Date Posted: 1/26/2018

Job Snapshot

  • Employee Type:
    Full-Time
  • Location:
    4224 Ridge Lea Road
    Amherst, NY
  • Job Type:
    Admin - Clerical
  • Experience:
    Not Specified
  • Date Posted:
    1/26/2018
  • Job ID:
    26167BR

Job Description

*Job Description
Specialist VI (LM Underwriter job description):

JOB BRIEF (PURPOSE):

This position is responsible for examining, evaluating and underwriting mortgage loss mitigation applications such as extension, re-age, repayment plan, forbearance plans, modifications, short sale, deed-in-lieu, and settlement for both portfolio and investor loans. This position comes with the authority to disposition modification applications through approval or denial decision based on investor/insurer guidelines.



ESSENTIAL JOB FUNCTIONS:

•Review facially “complete” package to determine if additional documents are required in order to make a decision on Loss Mitigation application.
•Review borrower financial information and input data accurately in order to make sound decisions on accounts.
•Prepare and send Loss Mitigation Letters at critical milestones (Approval, Denial, Missing Items, etc.) of the review process.
•Calculate modification final terms and then prepare and send out final modification documents.
•Partner with the Single Point of Contact team to ensure that accurate information is communicated to borrower at the different Loss Mitigation milestones and at the time of the Loss Mitigation decision.
•Understand and follow the appropriate investor or insurer guidelines when reviewing and making decisions on Loss Mitigation applications on their behalf.
•Submit requests on investor or insurer backed loans as necessary for approval or denial of a loss mitigation options in situations where the servicer is not granted delegation authority.
•Fully underwrite and provide a decision on 100% of the population within 30 days of receipt of the completed Loss Mitigation application.
•Review and understand daily pipeline and exception report in order to ensure 100% compliance with all RESPA and internal processing requirements.
•Review and respond appropriately to quality testing that may include any necessary remediation.
•Maintain working knowledge of Fannie Mae, Freddie Mac, FHA, VA and CHFA guidelines.
•Maintain knowledge of state and federal lending regulations such as RESPA, OCC 2010, etc.


MARGINAL OR PERIPHERAL FUNCTIONS:
Navigation in internal lending systems.



REQUIRED QUALIFICATIONS:
2 to 4 year degree or equivalent training and/or work experience in a related role
Default Mortgage servicing experience
Loss Mitigation underwriting experience
Thrives in changing business environment, flexible and committed
Excellent oral and written communication skills
Excellent analytical skills, attention to detail and ability to work within time constraints
Demonstrated problem-solving skills


PREFERRED QUALIFICATIONS:
Bachelor’s Degree or higher is preferred or equivalent training and/or work experience in a related role
4 years Default Mortgage servicing experience
2 years Loss Mitigation underwriting experience
Strong time management and organization skills, fast learner, self-motivated, and comfortable taking initiative and handling several priorities simultaneously
Experience with SMDU, HSSN, WP2, FHA Connection, and Valeri
Investor (Fannie May, Freddie Mac, etc.) knowledge is preferred.
Knowledge of RESPA is preferred.

COMPETENCIES/SKILLS :
Strong PC skills including Microsoft Word, Excel, PowerPoint and Outlook
Ability to analyze title reports, credit reports, residential appraisals or broker price opinions, financial statements and tax returns.
Ability to rapidly acquire detailed knowledge of departmental policies, practices and procedures

EQUIPMENT USED:
PC, Phone

TRAINING REQUIRED:
Yes on internal systems


ABOUT KEY:
KeyCorp's roots trace back 190 years to Albany, New York. Headquartered in Cleveland, Ohio, Key is one of the nation's largest bank-based financial services companies, with assets of approximately $134.5 billion at March 31, 2017. Key provides deposit, lending, cash management, insurance, and investment services to individuals and businesses in 15 states under the name KeyBank National Association through a network of more than 1,200 branches and more than 1,500 ATMs. Key also provides a broad range of sophisticated corporate and investment banking products, such as merger and acquisition advice, public and private debt and equity, syndications, and derivatives to middle market companies in selected industries throughout the United States under the KeyBanc Capital Markets trade name. KeyBank is Member FDIC.

ABOUT THE BUSINESS:
KeyBank has administrative services in place that help support the business. These include: Finance, Human Resources, Legal, and Marketing. KeyBank’s Corporate Center supports strategic initiatives through multiple teams which provide distinctly different, yet interrelated, disciplines for the KeyBank Leadership team and its business groups. The Corporate Center protects and enhances Key’s brand through thoughtful and deliberate messaging and responsible banking. Our proactive approach and significant expertise engage both internal and external constituents – employees, clients, shareholders, investors, regulators, legislators, community advocates – by adding value, positively influencing their perceptions, and instilling a sense of confidence in Key.

FLSA STATUS:Non-Exempt

KeyCorp is an Equal Opportunity and Affirmative Action Employer committed to engaging a diverse workforce and sustaining an inclusive culture. All qualified applicants will receive consideration for employment without regard to race, color, religion, sex, sexual orientation, gender identity, national origin, disability, or veteran status.

JobID: 26167BR