Loss Mitigation Underwriter III

Overview: This position is responsible for reviewing mortgage loan accounts for the entire waterfall and determining whether customers qualify for retention or liquidation options through financial analysis of income and ability to repay. This position submits loan modification workups and reviews appeal requests for loans where loss mitigation has been denied. This position will also be responsible for preparing loans for foreclosure mediation hearings, QC'ing files and letters, and identifying loans missing investor, insurer or CFPB guidelines. Primary 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. Communicate with HUD regarding loss mitigation requests and extension approvals. Review denied loan appeal requests by examining changes in customer’s income, newly submitted documents and identifying possible miscalculations. Calculate foreclosure costs, loss estimations and payoff totals to make account recommendations. 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. 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. Communicate with Single Point of Contact, title team, Loss Mitigation Closing team and Escalations team to gather information and resolve escalated accounts. Prepare workout summaries for management approval. Maintain notes for management and audit review purposes. Verify the accuracy of letters to be sent to customers from the Underwriting team. QC Underwriting Team decisions for completeness and accuracy. Manage and monitor loans in the HMP portal and loans receiving Hardest Hit Funds. Participate in process improvements and providing procedure updates. Review daily regulatory reports and complete report validation identifying issues for Underwriting Team and Management. Test new or updated investor programs and acquisitions loans in BKFS test systems providing feedback Complete special ad hoc projects as requested by management (e.g., due diligence loan reviews). 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 belonging and reflects the M&T Bank brand. Complete other related duties as assigned. Scope of Responsibilities: Manages and monitors an account portfolio of 70 loans. Education and Experienced Required: A combined 5 years’ higher education and/or work experience, including a minimum of 3 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. Education and Experience Preferred: Bachelor’s degree. Paralegal certification or experience. Mortgage collections experience. Knowledge of M&T systems. M&T Bank is committed to fair, competitive, and market-informed pay for our employees. The pay range for this position is $26.00 - $43.34 Hourly (USD). The successful candidate’s particular combination of knowledge, skills, and experience will inform their specific compensation. Location Getzville, New York, United States of America Great companies have an enduring sense of purpose. At M&T, our purpose is a simple one: make a difference in people’s lives and uplift the communities we serve. M&T Bank Corporation is a financial holding company headquartered in Buffalo, New York. M&T’s affiliates offer advice, guidance, expertise and solutions across the entire financial spectrum, combining M&T Bank’s traditional banking services with the wealth management and institutional capabilities offered by Wilmington Trust. M&T Bank has a network of over 1,000 branches and 2,200 ATMs that span 12 states from Maine to Virginia and Washington, D.C. For more than 165 years, M&T has strived to take an active role in our communities and build long-lasting relationships with our customers. We are a bank for communities—combining the capabilities of a large bank with the care of a locally focused institution. As an employer of choice, we are proud to offer competitive benefits ranging from medical and retirement to forty hours of paid volunteer time, each year. Our core values – integrity, ownership, collaboration, curiosity, and candor – drive the work we do. We seek to further build upon our record of success by bringing in top talent and fresh skill sets while continuing to support the growth and development of all our team members. View M&T’s Human Capital Report to learn more. Ready to join our team? Submit your application today! If you are unable to apply through this site due to technical issues or need an accommodation to apply, please contact us at View email address on click.appcast.io for assistance. M&T Bank is unwavering when it comes to providing equal employment opportunities to all employees and applicants without regard to race, color, national origin, religion, ethnicity, sex, gender identity, age, disability, citizenship, pregnancy, veteran status, military status, marital status, sexual orientation, genetic information or any other characteristic protected under applicable federal, state or local laws. M&T Bank Corporation has policies and procedures in place to promote a drug free workplace. Career Site Privacy Notice