Asset Disposition & Loss Mitigation Specialist

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Asset Disposition & Loss Mitigation Specialist will provide support to the Asset Disposition Group, for loss mitigation, that covers the entire enterprise (loanDepot, imortgage, Mortgage Master, LDWholesale). This position will be responsible for logging, following up and maintaining the Asset Disposition Database. This will require interfacing with several internal and external groups. The Asset Disposition Group partners with several internal channels including, but not limited to, Secondary, Post Closing, Shipping, Servicing, Appraisal, Credit Policy, Counsel, Treasury, etc. in order to evaluate and mitigate impaired asset losses. External channels will include Investor Repurchase Departments, Collateral Agents, Servicers, Scratch & Dent investors and Foreclosure/REO Agents.

Essential Job Responsibilities:
  • Log all incoming internal & external AD requests.
  • Monitor loans in “In Process” status, referred by others but LD, with outstanding or Response Due date(s).
  • Log updates received from responsible party/channel.
  • Monitor AD Data Base for loans in “Refinance” status and update entries in Conversation Log.
  • Request status update for loans “In Process, Refinance” from responsible party/channel.
  • Monitor FHAC to determine if HUD PETRs in “Pending Investor Action” status has been mitigated.
  • Upload appeals received from responsible party/channel in QAS/QCIM.
  • Request Legal letter, if any, to engage/re-engage borrowers to refinance.
  • Monitor “LFHS” loans for appropriate action to facilitate disposition.
  • Monitor Empower for update on AD refinances.
  • Calculate/provide new loan terms, whenever a loan modification is required.
Job Requirments:
  • High School Diploma; Bachelors Degree preferred
  • Two to Four years of related experience
  • Two years of management experience desired

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