Lead Residential Loss Mitigation Analyst

Lead Residential Loss Mitigation Analyst

In this hybrid role based at our Chicago Headquarters you will manage and approve borrower assistance reviews, default operations, and REO-related activities. Oversee and provide guidance to our sub-servicer regarding the full default lifecycle from early intervention through loss mitigation, property preservation, REO disposition, and charge-off documentation. Ensure regulatory compliance, risk mitigation, and asset recovery through proactive portfolio management, stakeholder coordination, and data-driven decision-making.

Essential Responsibilities

• Act as the subject matter expert (SME) for loss mitigation, default, REO, and property preservation activities and oversee review and decisioning of borrower assistance applications with sub-servicer.
• Ensure compliance with ACU, NACU, Fannie Mae, Freddie Mac, FHA, VA, USDA, Investor, and CFPB servicing requirements, while meeting federal/state regulations and investor/insurer guidelines.
• Complete equity analysis to determine the most financially appropriate resolution, including liquidation vs. retention options and work with sub-servicer and any third parties regarding REO property preservation, safety compliance, and remediation activities after foreclosure.
• Prepare charge-off or loss documentation packages, including financial justification and final file write-up to be presented for approval.
• Coordinate with sub-servicer to ensure timely securing, maintenance, and repairs.
• Provide updates to management or additional department to manage expectations across the enterprise.
• Ensure accurate write-ups for charge-off, loss recognition, and final disposition reporting.
• Validate property valuations (BPOs, appraisals), cost estimates, and liquidation timelines.
• Partner with team such as quality assurance, risk, audit, and compliance on reviews and corrective actions.
• Develop, update, and maintain policies, procedures, job aids, and process documentation for loss mitigation, default operations, and REO workflows.
• Identify process gaps and recommend operational risk mitigation strategies.
• Ensure documentation reflects regulatory changes, investor updates, and best-practice controls.
• Provide SME support for regulatory exams, audits, and internal risk assessments.
• Track KPIs such as application aging, cycle times, mod conversion, REO timelines, property preservation expenses, and portfolio trends.
• Prepare reports and present performance insights to leadership.
• Support business initiatives, system enhancements, and operational optimization efforts.
• Adhere to and ensure compliance of all business transactions with policy and process of the Bank Secrecy Act.
• Ensures compliance with all applicable state and federal laws, company procedures and policies.
• Maintains integrity and ethics in all actions and conversations with or regarding credit union members and their accounts; complies with Privacy Act directives.

Education Minimum - High School or equivalent Years of Experience Minimum - 5 Years of Loss mitigation, default servicing, REO property preservation or related Compensation & Benefits: Typical hiring range: $76,600.00 to $119,100.00 Annually. Actual compensation will be determined using factors such as experience, skills & knowledge. Benefits: Alliant provides a benefits package including health care, vision, dental, and 401k with employer match including: Annual performance bonus Work from home up to 3 days a week Paid parental leave Employee discount programs Time off including paid personal and sick days 11 paid holidays Education reimbursement *Note that eligibility and cost of benefits can vary depending on the number of regularly scheduled hours, and job status such as regular full-time, regular part-time, or temporary employment. Equal Opportunity Employer