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Loss Mitigation Underwriter - 3DHCG in Getzville, NY at M&T Bank

Date Posted: 4/21/2018

Job Snapshot

Job Description

Company Overview:
Together, M&T Bank and Wilmington Trust, a part of M&T Bank Corporation, represent one of the country’s leading depository and lending franchises, a premier wealth advisory firm, and the partner of choice for corporate transactions and structures.  As one of strongest, most successful companies in the U.S. financial services industry, M&T continues to grow, offering value to our shareholders and opportunity to qualified professionals.  Join our team of over 15,000 professionals and you’ll understand what drives our longstanding success: a promise of exceptional client service, a commitment to our communities, a focus on building long-term relationships, and a dedication to being the best employer you’ll ever have.  
THE OPPORTUNITY:
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 and for cross training with other areas of loss mitigation.
 
POSITION RESPONSIBILITIES:
Understand investor waterfalls and required documents for loss mitigation.
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.
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 FHA guidelines, M&T policies and applicable state and Federal law and regulations.
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.
Communicate with Single Point of Contact, title vendors and Loss Mitigation Closing team to gather information and resolve escalated accounts.
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.

MINIMUM QUALIFICATIONS REQUIRED
Associate's Degree or two years relevant work experience.
Minimum two years collections experience
Minimum of one year post charge off collections, repossession, remarketing, REO, foreclosure, or bankruptcy experience.
Working knowledge of utilized word-processing, spreadsheet and departmental software
Knowledge of skip tracing software and BK servicing systems.
Strong written and verbal communication skills.
Demonstrated ability to provide direction and lead others.
Motivated team player with a positive and friendly attitude.
Understanding of local / state laws and regulations governing the repossession and sale of collateral.
Basic understanding of the bank's general operations and system functionality.  
IDEAL QUALIFICATIONS PREFERRED
Bachelor's Degree.
One year of accounting or finance experience.
Bilingual
M&T is among the top 20 U.S.-based commercial bank holding companies with more than $79 billion in assets and more than 780 branches in New York, Maryland, Pennsylvania, Virginia, Delaware, New Jersey, West Virginia, Florida and Washington D.C.  With more than 150 years of experience, M&T Bank is committed to be the best company our employees ever work for, the best bank customers ever do business with and the best investment our shareholders ever make. Apply today at www.mtb.com/careers!
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.