Join our Team

Loan Servicing & Loss Mitigation Specialist

Position Summary

The Loan Servicing & Loss Mitigation Specialist is responsible for delinquency management, loss mitigation, loan servicing, escrow administration, and hazard/flood insurance. The ideal candidate is organized, detail-oriented, and enjoys solving problems while building positive relationships. This position requires excellent customer service skills and the ability to work professionally and empathetically with customers experiencing financial hardship.

Responsibilities

Loss Mitigation & Delinquency

  • Make outbound calls to delinquent borrowers to discuss account status, repayment options, and loss mitigation solutions.
  • Analyze borrower financial information, including income, debts, assets, credit history, and supporting documentation.
  • Review bank statements, pay stubs, tax returns, and other financial documents.
  • Develop and implement loss mitigation solutions, including loan modifications, forbearance agreements, short sales, and deeds in lieu of foreclosure, in accordance with investor guidelines.
  • Work with customers experiencing financial hardship and navigate sensitive conversations with empathy, resilience, and professionalism.
  • Document borrower communications, financial reviews, decisions, and actions throughout the loss mitigation process.
  • Complete delinquency reporting to Freddie Mac, Federal Home Loan Bank, VA, FHA, and other investors within required timelines.
  • Prepare weekly delinquency reports for the Loan Committee.
  • Maintain current knowledge of investor requirements and applicable servicing guidelines.

Loan Servicing, Escrow & Insurance

  • Provide exceptional service by responding to customer loan servicing inquiries accurately, professionally, and timely.
  • Process loan payments, adjustments, reversals, payoffs, extensions, modifications, and other servicing transactions accurately and timely.
  • Research and resolve payment discrepancies, posting errors, misapplied payments, disputes, and other servicing issues.
  • Assist customers and bank staff with loan payments, balances, account activity, and servicing questions.
  • Monitor hazard and flood insurance coverage, expiration dates, renewals, cancellations, and required documentation.
  • Process insurance premium payments and resolve coverage, payment, and documentation discrepancies.
  • Communicate with customers, insurance agents, and insurance companies regarding policy requirements and changes.
  • Maintain accurate loan, escrow, and insurance records and update bank systems as needed.
  • Prepare and distribute annual escrow analysis statements and related customer notifications.
  • Research and resolve escrow shortages, overages, payment discrepancies, and other escrow issues.
  • Work with lending, operations, accounting, and other departments to resolve complex servicing issues.
  • Assist with audits, quality-control reviews, reporting, reconciliations, and other servicing projects.

Requirements

  • Experience in loan servicing, mortgage lending, collections, loss mitigation, or a related banking function with a minimum of 1-2 years required.
  • Knowledge of Freddie Mac, Federal Home Loan Bank, VA, FHA servicing guidelines preferred.
  • Strong understanding of loan servicing and loss mitigation processes.
  • Excellent organization, attention to detail, and time management skills.
  • Strong verbal and written communication skills.
  • Ability to prioritize multiple responsibilities while maintaining accuracy.
  • Strong problem-solving skills and sound judgment.
  • Demonstrated ability to remain calm, professional, and customer-focused when handling difficult conversations or emotionally charged situations.
  • Comfortable working with customers experiencing financial hardship and handling sensitive information with empathy and professionalism.
  • Proficiency with Microsoft Office and banking software.
  • Self-motivated with the ability to work independently and as part of a team.

Apply Now

  • This field is for validation purposes and should be left unchanged.
  • Drop files here or
    Max. file size: 1 MB, Max. files: 2.

    Equal Opportunity Employer. 1st National Bank is an Equal Opportunity Employer. All qualified applicants will receive consideration for employment without regard to protected status in accordance with applicable federal, state, and local laws.