Supervisor, Loss Mitigation

Cenlar is the nation’s leading mortgage loan subservicer. Our unique culture is defined by our core values of respect, trust, integrity and care. A promote-from-within philosophy, and opportunities for continuous professional growth make Cenlar a great place to launch or boost your career.

 

The Supervisor, Loss Mitigation is responsible for the management and processing of loss mitigation alternatives for collection, foreclosure and bankruptcy cases. These loss mitigation techniques apply to the total portfolio of Central Loan Administration in an effort to avoid potential foreclosure and REO exposure. In addition to the above loss mitigation outline, this role will also supervise daily operational functions of the evening collectors.

Responsibilities:

Works with borrowers both written and orally through workout negotiations in an attempt to mitigate foreclosure/REO avoidance/losses.Must be able to review financial statements submitted by borrower(s), listing contracts, agreement of sales, closing costs and settlement sheets submitted by various realtors in an effort to determine alternative win/win resolutions, accuracy, and guideline complianceWorks closely with Loss Mitigation Manager in determining and implementing loss mitigation techniques inclusive of but not limited to, short sales, loan modifications, special formal forbearance, plans, deed-in-lieu’s, hardship assumptions and partial claim paymentsMaintains extensive and up to date knowledge with respect to loan type/investor/PMI requirements. Implements loan workout techniques, which are in compliance with such guidelines at all times. This includes the workout monitoring and solicitation of 30, 60, and 90+ day accounts as well as foreclosure and bankruptcy casesProductively uses the CRP Loss Mitigation, Collection, Foreclosure and Bankruptcy workstation, fully updating and documenting in detail the loan workout activity as it pertains to that specific department. Effectively transmits workout loan summary particulars to FNMA/FHLMC and routinely follows up for the decision. Disburse payments to various vendors associated with Loss Mitigation activitiesCreates and updates managerial detail reports and/or spread sheet(s) pertinent to the workout function and/or progress of the loan(s) on a monthly basisMaintains accurate records and delinquency reporting requirements throughout the month on FHA, FNMA and FHLMC clearing indicating reason for delinquency codesPerforms other related duties as required and assigned by managementAppropriately assess risk when business decisions are made, include but not limited to compliance and operational risk. Demonstrate consideration for Cenlar’s reputation as well as our clients, by driving compliance with applicable laws, rules and regulations, adhering to Policy, applying sound ethical judgment regarding personal behavior, conduct and business practices, and escalating, managing and reporting control issues, as well as effectively supervise the activity of others and create accountability with those who fail to maintain these standards

Qualifications:

Bachelor’s Degree or equivalent experienceA minimum of 3-5 years in a default, loss mitigation environmentStrong Communication Skills both verbal and writtenAbility to meet strict deadlinesStrong negotiating skills and follow-up skillsAbility to work with minimal to moderate supervisionKnowledge of regulatory requirements a plus

Total Rewards:

At Cenlar, you’ll receive an outstanding benefits package that includes paid medical, dental, and life insurance, 401(k), and tuition assistance as well as opportunities for training and professional advancement.

Cenlar is a drug-free workplace and an equal employment opportunity/affirmative action employer M/F/D/V/SO.

 

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