Loss Mitigation Underwriter - Government - Full-time / Part-time

The Opportunity:

The Loss Mitigation underwriter is responsible for managing an assigned portfolio of open or non-performing assets, mitigating potential losses to the investor and the Bank, and making Workout recommendations in alignment with investor, insurer, and Bank guidelines. Must adhere to the requirements of federal registration under the SAFE Act.

Primary Responsibilities:

• Reviews and analyzes borrower financial documents – income tax returns, leases, bank statements, contracts, self-employment profit and loss statements, business tax returns, etc. They will analyze the borrower ability to afford workout solutions.
• Determines borrower eligibility based upon proprietary, investor, and mortgage insurer guidelines.
• Maintains strict adherence to all investor requirements, state and federal laws, and regulatory agency requirements.
• Works independently to manage assigned workload, working efficiently to meet goals and deadlines, while eliminating errors and maintaining quality.
• Establishes open lines of communication with other departments, business partners, and vendors to coordinate loan servicing functions, ensuring compliance with regulations and pre-determined SLA's.
• Handles more complex functions in coordination with the Foreclosure, Bankruptcy, REO/Property Preservation teams.
• Initiates direct contact with borrowers, Third-party representatives, realtors, attorneys in assessing the prospect of offering and implementing a workout solution – either repayment schedules or liquidation options.
• Participates in Loss Prevention by employing advanced strategies that provide adequate protection for the Bank with respect to its' interest in the collateral securing the loan, while maximizing cost containment opportunities.
• Review collateral condition and establish asset value.
• Negotiate sale terms with prospective buyers and conclude sales transaction with limited oversight.
• Develop a thorough understanding of the business and its functions, processes and operations.
• Keep abreast of business and market trends that may affect business department.
• Perform other related assignments / projects as requested by management. The incumbent works under general supervision.
• The incumbent has internal contact with other departments and externally with customers and service providers.

Minimum Qualifications Required:

• Associates degree, or in lieu of degree two years' relevant work experience.

• Minimum two years in a Default Servicing Environment.

• One or two year' experience in any of the following, and is a functional expert in the specific area of specialization. Post-charge off collections, repossession, remarketing, REO, foreclosure, or bankruptcy.

• Working knowledge of MS Excel, MS Word, and Adobe PDF

• In depth understanding of the bank's general operations and systemic functionality.

• Strong analytical abilities and problem solving.

• Strong understanding of local / state laws and regulations governing the repossession and sale of collateral.

• Demonstrated ability to provide direction and lead others.

• Motivated, team player with a positive and friendly attitude.

• Very strong written and verbal communication skills.

• Detail oriented, with a focus on reducing errors and maintaining quality targets.

• Strives to identify opportunities to improve processes and services.

• Ability to work independently to meet deadlines and goals.

• Ability to use technology to increase performance/productivity.

Ideal Qualifications Preferred:

• Bachelor's degree preferred
• Two or more years underwriting experience.
• This includes calculating income derived from various sources, including wage earner, self-employed, and fixed income borrowers.
• Familiarity with reviewing mortgage documents, financial documents, and title documents.
• Experience with Black Knight servicing platform a plus.
• Prior departmental experience.

About M&T:

At M&T, we strive to be the best place our employees ever work, the best bank our customers ever do business with and the best investment our shareholders ever make. So when looking to advance your career, look to M&T. As a top 20 US bank holding company and one of the best performing regional banks in the country, we offer a wide range of performance based career development opportunities for talented professionals. And through our longstanding tradition of careful, conservative and consistent management and a strong commitment to the communities we serve, we continue to grow with a focus on the future.