Leader Bank is looking for exceptionally dedicated team members to join one of the region’s fastest growing community banks and mortgage lenders. At the time of its founding in 2002, Leader Bank had one branch office, $6.5 million in assets and 7 team members. Since then, the Bank has become of the most successful banks in Massachusetts with more than $4 billion in assets, more than 400 team members, 7 branch offices, and annual mortgage originations of over $5 billion.

Exemplary products and an innovative spirit have driven Leader Bank’s rapid growth over the years, and our team members embrace these values. Our mission is to obsess over our clients, make them feel valued, and maintain long-term relationships with them by constantly enhancing our products and processes to always be improving our client experience. For our team members, Leader Bank prioritizes competitive compensation and benefits, a healthy work-life balance, and an environment that fosters diversity and inclusion.

Summary

Leader Bank is looking for a highly trained specialist that would be able to manage its collections/loss mitigation pipeline.

The primary responsibility of the Loss Mitigation Specialist is to reduce losses for both the Bank and borrower and to make every attempt to prevent a loan from going into default and foreclosure. The Specialist is responsible for contacting borrowers on a regular basis, thoroughly reviewing and assessing the Loss Mitigation application received from the homeowner, verify whether the homeowner/mortgagor has a legitimate hardship situation and determine the best workout option available for the homeowners/mortgagors.

Responsibilities

• The primary responsibility is to mitigate potential losses on delinquent loans and to make every attempt to prevent a loan from going into foreclosure
• The Specialist is responsible for thoroughly reviewing and assessing the Loss Mitigation application received from the homeowner to make sure that they are complete as well as verify whether the homeowner/mortgagor has a legitimate hardship situation in order to determine the best workout option available for the homeowners/mortgagors, notify the appropriate departments and agencies regarding the status of the loan, and process the workout accurately, timely and within investor guidelines
• Knowledge of trial/forbearance/repayment plan agreements, modifications, pre-foreclosure sales (short sales) and Deed-in-Lieu of Foreclosure
• Comply with all CFPB regulations, as well as state and federal and follow/adhere to all policies and procedures within appropriate timeframe
• Understanding of mortgage documentation and processes of loss mitigation, bankruptcy, and foreclosure processes
• Evaluate property valuations and/or appraisals to determine beneficiary’s equity position
• Collaborates with various support departments within servicing to identify needs and deliver results while meeting deadlines in a professional manner
• Negotiate terms of the various workout alternatives with mortgagors, real estate brokers, attorneys, MI companies, government agencies, and clients
• Notify the appropriate departments and agencies regarding the status of the loan, and process the workout accurately, timely and within investor guidelines.
• Manage individual pipeline of loans, proactively communicates with borrower(s) and authorized third parties
• Prepare delinquency reports for management and periodic meetings as necessary

Requirements

• Familiar with different agencies requirements and waterfall guidelines for various loan types
• 3 years Mortgage Underwriting or loss mitigation experience
• Strong communication, interpersonal, and organizational skills required
• Experience with Fannie Mae and Freddie Mac loss mitigation requirements
• FISERV Premier experience a plus
• Ability to handle high volume and multi-task effectively
• Bachelor's degree or equivalent preferred

Leader Bank offers an excellent compensation and benefits package including: 401k plan with corporate match, medical and dental insurance, and the opportunity to work for a fast growing, local organization.

Leader Bank, N.A. is an Equal Opportunity and Affirmative Action employer and does not discriminate on the basis of race, color, religion, age, gender, marital status, sexual orientation, national origin, disability, military status, veteran status or any other protected class.