Provident Funding Associates L.P.
Underwriter, Loss Mitigation
November 2012 — Present
Licensed Mortgage Loan Originator
Primary role is to review current borrowers' financials and underwrite the loan to determine whether the borrower qualifies for retention workouts or should pursue liquidating their property. If a borrower is determine to be eligible for a Short Sale on their home, my role is to communicate the lenders requirements for the offer in order to close. This includes careful review of the HUD Settlement form and negotiating a sales price that yields the highest amount of proceeds due to the investor.
• NMLS SAFE MLO, licensed to practice in Washington, Ohio, Colorado, Illinois, Georgia, Maryland, West Virginia, Utah & FDCPA certified.
• Analyzing and assessing credit risk and submitting a business plan to the investor suggesting a course of action.
• Responsible for managing a pipeline of delinquent loans or loans in imminent danger of default.
• Provide detailed review and analysis of borrowers’ financial documents and careful review of each borrower’s unique hardship situation.
• Daily use of Excel and complex formulas to determine the borrower’s target payment based on each investor’s underwriting guidelines.
• Exceptional communication skills required in order to maintain a level of professionalism while communicating compassion.
• Negotiate with third party representatives such as attorneys, real estate agents and settlement agents.
• Represent the company and the investor at mediations between the borrower and the company regarding the loss mitigation review.
• Careful review of real estate documents; listing and purchase contracts, MLS listings, HUD-1 Settlement Forms.
• Negotiating sales prices and closing costs on properties that yield the highest payoff to the investor to mitigate credit loss.