Loss Mitigation Relationship Manager
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☰ Loss Mitigation Relationship Manager New 💼 TIAA Bank 📅 5 days ago Post Date Apply for Job Share this Job
As a part of TIAAs Financial Solutions business, TIAA Bank, a division of TIAA, FSB, provides full-service, nationwide banking and lending services to consumer, commercial and institutional clients through a variety of channels, including online, its Florida-based financial centers and at other business offices throughout the country.
Loss Mitigation Relationship Manager serves as our Single Point of Contact (SPOC) providing exceptional service to borrowers in the process of foreclosure, loan modification, or loss mitigation. Prepare risk assessment package and present recommended plan to investor and/or Asset Review Council as required. Work directly with the customer as their relationship manager and handle the loss mitigation and/or liquidation on the portfolio as warranted. Provide the maximum level of customer service to borrowers during the foreclosure, loan modification, and loss mitigation process. Negotiate various home retention and liquidation options with the mortgagor, investor, insurer, client, attorney and agent in attempts to avoid foreclosure while decreasing losses. Duties and responsibilities of this position include but are not limited to the following: ability to make analytical assessments; intelligently discuss various workout options; making proposals to the necessary parties; preparation of the necessary documents for execution; timely follow-up and monitoring of various plans. Assist the team with sundry duties as needed.
- Handle incoming calls from customers with inquiries regarding the foreclosure, loan modification, or loss mitigation process
- Make outgoing calls as necessary for follow up on outstanding items and/or responses. Respond timely to borrower requests or messages.
- Act as an advocate for the borrower by intervening on their behalf to remove obstacles preventing prompt and successful resolution of their issue or inquiry. Reach across inter-departmental areas as appropriate to expedite borrower responses.
- Correctly assess Collection, Loss Mitigation, and/or Foreclosure activity in progress on loan to ensure borrowers receive accurate information and critical items are escalated
- When applicable, handle mediation calls in order to discuss and propose various workout options with the courts for all investor types such as FNMA, FHLMC, FHA, VA and private labels
- Review pending mediation cases sent from the attorney/court as needed
- Work with attorneys on proposing various workout options for customers who are in active bankruptcy inclusion of mediation within a tight timeline when applicable
- Work with TIAA Bank bankruptcy attorneys & debtors attorneys to obtain court approval for all workouts on active bankruptcies
- Communicate with internal departments to validate loss mitigation and court ordered requests
- Complete state/county required questionnaires for mediations in addition to requested documentation
- Analyze risk on assigned portfolio
- Underwrite each assigned loan for best course of action to cure or liquidate using loss mitigation completed package, equity analysis, income analysis, and investor insurer/guidelines
- Make recommendation and be prepared to handle loss mitigation or liquidation
- Interface with other departments to resolve issues and discuss shared impacts
- Help manage system and operational interfaces between legal and business units
- Provide the maximum level of customer service to borrowers during the foreclosure, loan modification, and loss mitigation process
KNOWLEDGE, SKILLS, AND ABILITIES
- Must possess excellent written and verbal communication skills. Must be able to communicate professionally while maintaining sensitivity to the current situation the borrower is facing.
- Must have high level of organizational and multi-tasking skills
- Ability to work independently and pro-actively search for solutions
- Ability to review, research, and understand loan related data
- Strong analytical and problem solving skills
- Ability to prioritize work and meet deadlines
- Strong research skills
- Strong negotiation skills
- Working experience with Excel, Word and Outlook
REQUIRED MINIMUM QUALIFICATIONS
- High school diploma
- 3 years experience in mortgage industry
- Black Knight MSP experience
Equal Employment Opportunity is not just the law, its our commitment. Read more about the . If you need assistance applying due to being visually or hearing impaired, please email , or call We are an Equal Opportunity/Affirmative Action Employer. We will consider all qualified applicants for employment regardless of age, race, color, national origin, sex, religion, veteran status, disability, sexual orientation, gender identity, or any other legally protected status.
- Prior relationship / account manager
- Loss mitigation experience
- Default litigation, foreclosure, or bankruptcy experience
- Customer service experience
- Loan officer experience
- Origination or real estate experience
- Risk management experience
- Knowledge of various investor/insurer guidelines and procedures
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