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Loss Mit Underwriter II in Getzville, NY at M&T Bank

Date Posted: 11/16/2018

Job Snapshot

  • Employee Type:
    Full-Time
  • Location:
    Getzville, NY
  • Job Type:
  • Experience:
    Not Specified
  • Date Posted:
    11/16/2018
  • Job ID:
    3DM0V

Job Description

FUNCTION:
This position is responsible for submitting loan modification workups for the entire waterfall of investor workout options. This position will also be responsible for preparing loans for foreclosure mediation hearings, working with various investors and cross training with other areas of loss mitigation.

POSITION RESPONSIBILITIES:
Understand investor waterfalls and required documents for loss mitigation.
Manage and monitor account portfolio to ensure that all documentation and account decisions comply with banking policies, investor guidelines and applicable regulations.
Assess income and expenses, as well as property value and variance between appraised properties and offers submitted by potential buyers.
Serve as liaison to various investors, including, but not limited to Fannie Mae, Freddie Mac and M&T Bank to gain approval for settlements and provide each party with documentation necessary to render a decision.
Review workout packages, including hardship letters, tax returns, income statements, pay stubs, credit reports, sources of debt and general customer financial documents to determine the most suitable repayment option for customers.
Calculate loan modification terms in adherence with Investor and Insurer guidelines, M&T policies and applicable state and Federal law and regulations.
Communicate with Single Point of Contact, title team and Loss Mitigation Closing team to gather information and resolve escalated accounts.
Review, compile and analyze documents (e.g., appraisals, title, arm’s length addenda, HUD 90051) to approve or deny a short sale settlement.
Communicate with customers, real estate agents and attorneys to negotiate short sale settlement offers and advise of loss mitigation decisions.
Prepare workout summaries for management approval. Maintain notes for management and audit review purposes.
Prepare loans for foreclosure mediation hearings.
Identify solutions to resolve clouded title.
Complete special ad hoc projects as requested by management (e.g., due diligence loan reviews).
Responsible for meeting and maintaining registration requirements under the Federal SAFE Act.
Adhere to applicable compliance/operational risk controls in accordance with Company or regulatory standards and policies.
Maintain M&T internal control standards, including timely implementation of internal and external audit points together with any issues raised by external regulators as applicable.
Promote an environment that supports diversity and reflects the M&T Bank brand.
Complete other related duties as assigned.

NATURE AND SCOPE:
Manages and monitors an account portfolio of 70 loans.

MANAGERIAL/SUPERVISORY RESPONSIBILITY:
Not Applicable.

MINIMUM QUALIFICATIONS REQUIRED:
A combined 4 years’ higher education and/or experience, including a minimum of 2 years’ collections or underwriting experience.
Ability to communicate effectively and professionally over the phone.
Excellent communication and customer service skills.
Proficiency with word processing and spreadsheet software.
Knowledge and understanding of land title.

IDEAL QUALIFICATIONS PREFERRED:
Bachelor’s degree.
Paralegal certification or experience.
Mortgage collections experience.
Knowledge of M&T systems.

PHYSICAL REQUIREMENTS:

We encourage candidates with relevant military experience to apply.

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.


M&T Bank Corporation is an Equal Opportunity/Affirmative Action Employer. M&T Bank Corporation does not sponsor individuals for the purpose of obtaining H-1 Visas. M&T Bank Corporation has policies and procedures in place to promote a drug free workplace.