Customer Service Rep - Loss & Mitigation

Loss Mitigation Specialist

The Loss Mitigation Specialist is responsible for evaluating and resolving delinquent accounts, working with clients to find sustainable solutions, and minimizing financial loss to the organization. This role requires strong analytical skills, attention to detail, and a customer-focused approach to negotiate workout options, handle documentation, and ensure compliance with company policies and regulatory guidelines. The position is a one-year contract, based onsite in Richmond, VA.

Key Responsibilities:

• Review, analyze, and manage a portfolio of delinquent accounts to identify risks and recommend effective workout strategies.
• Communicate directly with clients to evaluate their financial situation and determine appropriate loss mitigation solutions, such as loan modifications, payment plans, or forbearance agreements.
• Prepare and process all required loss mitigation documentation, ensuring completeness, accuracy, and regulatory compliance.
• Collaborate with internal teams, legal representatives, and external agencies as needed to expedite resolution of problem accounts.
• Maintain detailed records of all activities, decisions, and communications in the case management system.
• Adhere to federal, state, investor, and company guidelines and timeframes for loss mitigation review and processing.
• Provide ongoing updates and reporting to management regarding account status, risk trends, and portfolio performance.
• Contribute to continuous process improvements for loss mitigation operations.

Qualifications:

• 1-3 years of experience in collections, customer service, or a related financial services role.
• Experience with loan modifications, payment plans, or foreclosure prevention preferred.
• Knowledge of federal and state guidelines applicable to loss mitigation.
• Exceptional communication, negotiation, and customer service skills.
• Strong analytical abilities and attention to detail.
• Proficiency with Microsoft Office and case management software.
• Ability to work independently, manage multiple priorities, and meet deadlines in a fast-paced environment.