Job Openings >> Director- Loss Mitigation
Director- Loss Mitigation
Title:Director- Loss Mitigation
Department:Loss Mitigation
Location:Greenville, SC


Develops appropriate collection procedures, staffing levels, cost control, inventory management and process management to optimize recoveries on various types of distressed mortgage loans and other distressed assets.



  • Oversees the daily operations of Loss Mitigation to ensure compliance with all company, state, and federal guidelines.

  • Develops and implements all departmental processes and procedures to maximize resources and minimize expenditures. Reviews existing processes and procedures for same.

  • Develops ongoing and special project strategies as well as phone calling and mailing campaigns to minimize associated risk.

  • Coordinates, compiles and analyzes data for distribution and presentation to associated departments and Executive Leadership.

  • Reviews Workout Plans (i.e. Short Pay-offs, Loan Modifications and Deed-in-Lieu-of Foreclosures) for feasibility and compliance.

  • Reviews Security Covenants to ensure compliance.

  • Communicates potential risk exposure to Executive Leadership.

  • Assists in the development of unit Business Plans and Budgets to meet Company-forecasted future-growth requirements.

  • Creates and maintains job descriptions.

  • Develops and implements performance metrics and work standards.

  • Drafts and publishes formal guidelines and procedures.

  • Evaluates job performance and, as necessary, administers disciplinary action.

  • Provides training and develops career paths for all direct reports.

  • Interviews and hires all departmental staff.

  • Performs periodic Performance Reviews and recommending salary adjustments.

  • Develops various letters and solicitations to increase borrower response to Workout options.

  • Develops and tracks employee incentive plans for monthly performance.

  • Oversees and tracks all modified loans in Special Servicing. This includes mod completion data as well as mod performance data.

  • Performs detailed monthly analysis on various portfolios to forecast performance.

  • Reviews and tracks monthly expense reports to ensure departmental costs are correct.

  • Develops various cost to service models for Loss Mitigation to ensure profitability of the department.

  • Tracks departmental interaction with other Servicing Departments.

  • Acts as the key contact with other departments and divisions within the Company.

  • Undertakes Special Projects related to departmental activities.

  • Communicates and monitors complaints and irate customers.

  • Manages the timely notification of loans to Servicing Departments wherein the contract conditions have not been met.

  • When needed, carries out due diligence on potential portfolios to determine capability of arrears management and loss mitigation procedures.


  • Self-motivation

  • Detail-orientation

  • Effective organizational skills

  • Excellent listening, comprehension and negotiation skills

  • Effective verbal and written communication skills

  • Ability to multi-task and follow-through to completion of assignments

  • Knowledge of Mortgage Banking and trends in Loss Mitigation—specifically as it relates to Financial Privacy, Fair Lending, Collections, Bankruptcy, Workouts, Foreclosure, Loan Modification Programs, Agency Regulations, etc…

  • Ability to conceptualize and establish operational and control enhancements for computer systems

  • Ability to assist Loan Counselors with training and question answering

  • Ability to assist with complaint and irate calls

  • Proven experience motivating, coaching, monitoring and evaluating staff performance

  • Advanced PC-skills—with knowledge of Microsoft Excel, Word and Access

  • Preferably 10 years combined experience in Mortgage Banking, Insurance, Loan Origination, Collections, Loss Mitigation, and/or other related fields

  • Preferably 5 years experience in Loss Mitigation
  • At least 3 years experience in management positions

Educational Requirements:

  • A 4 year college degree in Business Administration or other analytical field.

This opening is closed and is no longer accepting applications
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