Loss Mitigation Counselor-Hybrid

Loss Mitigation Counselor-Hybrid

Location

US-CA-Valencia

ID

2025-1535

Category

Consumer and Real Estate Lending

Position Type

Full-Time

Remote

No

Overview

The Loss Mitigation Counselor supports Logix's mission to help members thrive by assisting those experiencing financial hardship in identifying sustainable solutions. The Counselor reviews delinquent accounts, evaluates hardship requests, and guides members through available relief options such as repayment plans, loan modifications, and forbearances. This role emphasizes compassionate communication, accuracy, and compliance to protect member relationships while minimizing portfolio risk.

Responsibilities

Review delinquency reports for first and second mortgages on a bi-monthly basis and contact members on loans 60+ days delinquent.

• Conduct outreach to members on loans 90+ days delinquent to establish contact and discuss possible solutions.
• Evaluate Borrower Response Packages for completeness and forward to the appropriate reviewer or committee.
• Prepare modification, repayment plan, and workout documentation accurately and in accordance with policy.
• Submit recommendations for foreclosure, short sale, deed in lieu, or charge-off when appropriate.
• Verify mortgage insurance (PMI) coverage and coordinate with mortgage insurers for loss mitigation decisions.
• Maintain meeting minutes and documentation for Jr. and Sr. Loan Committee actions related to delinquent loans.
• Communicate with members, trustees, and sub-servicers (DMI) to support foreclosure or reinstatement processes
• Handle foreclosure-related member inquiries and provide timely status updates.
• Monitor loan default trends, identify potential risks, and escalate complex or sensitive cases to senior staff as needed.
• Audit modification and loss mitigation packages to ensure all required member documentation is complete and compliant with Logix policies and regulatory standards.
• Ensure all requests meet CFPB, NCUA, and investor timelines for completion and processing accuracy.
• Verify that servicing systems reflect correct loan terms after modifications or workout agreements.
• Maintain thorough and accurate member records in the servicing system to support quality control and audit reviews.
• Support audit and examination requests by gathering documents and responding promptly to findings.
• Assist with requests from legal counsel for discovery, subpoenas, or servicing-related matters as directed.
• Ensure year-end reporting accuracy, including IRS Forms 1098 and 1096 for paid-off charge-offs.
• Serve as Single Point of Contact (SPOC) for HELOC Borrower Response Packages, coordinating between members and the Sr. Loss Mitigation Counselor.
• Collect and review hardship documentation for completeness before submission for review.
• Communicate with members regarding missing items, decisions, and next steps.
• Support members nearing HELOC maturity by helping them explore refinance or payoff options.
• Maintain oversight of maturing HELOCs to ensure proper follow-up and timely resolution.
• Handle inbound member inquiries related to HELOC foreclosure status or reinstatement.
• Provide prompt, courteous, and empathetic service to members in financial distress.
• Clearly explain available options, timelines, and outcomes in an easy-to-understand manner.
• Respond to member and internal customer calls efficiently, resolving issues or routing requests appropriately.
• Collaborate with internal partners including Loan Resolution, Member Services, Accounting, and Legal to ensure consistent communication and aligned actions.
• Manage escalations effectively and maintain professionalism at all times.
• Maintain daily and monthly reports related to delinquency activity, default trends, and loss mitigation performance.
• Provide accurate updates to management and accounting on loan defaults and recovery efforts.
• Support ongoing enhancements to reporting tools and templates in coordination with the programming team.
• Identify process gaps and propose improvements to enhance efficiency and member experience.

Qualifications

Education

Experience

Knowledge, Skills & Ability

Disclaimer

Logix Federal Credit Union is an equal opportunity employer that does not discriminate in employment opportunities or practices on the basis of race, religion, color, sex, sexual orientation, gender identity, national origin, protected veteran or disability status, or any other status protected by law.

Pay Range

USD $33.02 - USD $49.53 / Hr.