Bank of the West Sr Loss Mitigation Representative in San Ramon, California
Sr Loss Mitigation Representative
At Bank of the West, our people are having a positive impact on the world. We’re investing where we feel we can make the most impact, like advancing diversity and women entrepreneurship programs, financing for more small businesses, and promoting programs for sustainable energy. From our locations across the U.S., Bank of the West is taking action to help protect the planet, improve people’s lives, and strengthen communities. We are part of BNP Paribas, a global leader supporting the UN Sustainable Development Goals (SDGs). Yes, we’re a bank, but as the bank for a changing world, we are continually seeking to improve the ways we help our customers, while contributing to more sustainable and equitable growth.
Job Description Summary
Responsible for working directly with customers, realtors, investors, insurers, and other financial institutions to analyze situations when home mortgage or consumer home equity loan obligations can no longer be met, and seeks alternative solutions to offer customers opportunities for repay, forbearance, loan modifications, short sales and deed in lieu's. Follows set guidelines and strategies by insurer/investor and product type to help mitigate or eliminate loss and assist borrowers to avoid foreclosure where possible.
Essential Job Functions
Analyzes and understand customer’s financial status to determine if customers qualify for a loss mitigation option offered by the Bank. Perform thorough analysis of account status, credit history, property evaluation and senior liens to approve or deny requests for loan modifications, short sales or deed in lieu and settlements.
Corresponds with borrowers, attorneys, realtors, and dealers etc. to facilitate the loss mitigation programs offered by the Bank.
May be designated (or be part of) a single point of contact team for external communication with borrowers, realtors, attorneys, dealers etc. to provide assistance with all aspects of loss mitigation by following specific procedures and policies.
May evaluate and process claims to HUD via the internet in a timely and accurate manner. Monitors claim filings to verify receipt of funds. Follow up to resolve delays or disputes in payment of funds and ensures all deadlines are being met. Completes all default reporting requirements within established timeframes for each investor and insurer. This area is specific to Mortgage Banking.
Other Job Duties
Understands and adheres to the Fair Debt Collection Practice Act, Collection Laws, and Fair Credit Reporting Act.
Ensures compliance of loss mitigation procedures and goals set forth by management, investors and insurers.
Update daily/monthly management reports
- collection experience
- High School Diploma or GED Required
- S3 - 5 yrs consumer or mortgage banking
Equal Employment Opportunity Policy
Bank of the West is an Equal Opportunity employer and proud to provide equal employment opportunity to all job seekers without regard to any status protected by applicable law. Bank of the West is also an Affirmative Action employer - Minority / Female / Disabled / Veteran.
Bank of the West will consider for employment qualified applicants with criminal histories pursuant to the San Francisco Fair Chance Ordinance subject to the requirements of all state and federal laws and regulations.
Job: Collections / Commercial Workouts
Location: United States-Nebraska-Omaha
Other Locations: United States-California-San Ramon, United States-North Dakota-Fargo, United States-Arizona-Tempe
Requisition ID: 056415