Loss Mitigation Liaison I-3

📋 Description

• • As a Loss Mitigation Liaison I at Manufacturers and Traders Trust Company (M&T Bank), you will serve as the critical Single Point of Contact (SPOC) for borrowers navigating the complex loss mitigation and foreclosure processes. This role is pivotal in guiding individuals through challenging financial circumstances, ensuring they receive clear communication, accurate information, and appropriate support.
• • Your primary responsibility will involve managing a dedicated portfolio of mortgage loan borrowers who are experiencing delinquency. You will proactively engage with these customers through both inbound and outbound calls, addressing their inquiries about loss mitigation options and guiding them through the foreclosure process when necessary.
• • A key aspect of this role is maintaining strict adherence to all applicable state and federal laws and regulations governing consumer collection activities. This ensures that all interactions are compliant, ethical, and respectful.
• • You will be expected to thoroughly understand the investor's waterfall and the specific documentation required for various loss mitigation solutions. This involves collecting essential consumer financial information and meticulously assisting borrowers in reviewing and completing the necessary loss mitigation documents.
• • A significant part of your day-to-day will involve communicating the terms of loss mitigation approvals or declines. This includes clearly explaining the rationale behind each decision and informing borrowers about their options to appeal or re-apply, fostering transparency and trust.
• • When loss mitigation options are not feasible, you will be responsible for communicating alternative liquidation options and providing clear, empathetic explanations of the foreclosure process, ensuring borrowers are well-informed about their next steps.
• • You will play an active role in upholding M&T Bank's commitment to operational excellence by adhering to applicable compliance and operational risk controls in accordance with Company and regulatory standards and policies.
• • Maintaining M&T's internal control standards is paramount. This includes the timely implementation of internal and external audit points and addressing any issues raised by external regulators, contributing to the bank's overall integrity and stability.
• • Beyond the core responsibilities, you will contribute to fostering an inclusive and supportive work environment that reflects the M&T Bank brand values. This involves promoting a culture of belonging and professionalism in all interactions.
• • This role offers a unique opportunity to make a tangible difference in the lives of customers during difficult financial times, requiring a blend of empathy, strong communication skills, and a solid understanding of financial processes and regulations.
• • You will be empowered to manage your assigned portfolio efficiently, ensuring timely follow-up and resolution of borrower inquiries and case statuses.
• • The role demands a proactive approach to problem-solving, identifying potential roadblocks in the loss mitigation process and collaborating with internal teams to find effective solutions.
• • You will be responsible for accurately documenting all customer interactions, decisions, and actions within the mortgage servicing system, ensuring a comprehensive and up-to-date record of each case.
• • Continuous learning and adaptation are essential, as you will need to stay abreast of changes in regulations, investor guidelines, and internal policies related to loss mitigation and foreclosure.
• • This position requires a high degree of professionalism, discretion, and the ability to handle sensitive customer information with care and confidentiality.
• • You will be a key player in helping M&T Bank achieve its goals of responsible lending and customer retention by effectively managing distressed loan portfolios.
• • The ability to work independently and manage your time effectively in a remote work environment is crucial for success in this role.
• • You will be expected to contribute to team goals and share best practices with colleagues to enhance the overall effectiveness of the loss mitigation department.
• • This role provides a foundation for understanding the intricacies of mortgage servicing and the broader financial services industry, offering potential for growth and development within M&T Bank.