Loss Mitigation Underwriter I

Job Title: Loss Mitigation Underwriter I

Location: San Diego, California

Country: United States

Category: Accounting & Finance

Workplace: Onsite

Employment Type: Contract

Posted Date: October 5, 2026

Job ID: 652633

Location: San Diego, CA

Contract length: 6 months

Schedule: 40 hrs, 8:30a to 5:00p Pacific w/30 min lunch

Pay: $20/hr to $24/hr, DOE

Job Overview: The Loss Mitigation Underwriter is responsible for evaluating and underwriting loss mitigation applications, analyzing financial information and supporting documentation according to investor guidelines and National Servicing Standards to determine the best course of action for delinquent mortgage accounts. This role requires analyzing borrower financial information, assessing risk, and making informed decisions using investor waterfalls and guidelines to mitigate potential losses. The ideal candidate will possess strong analytical skills, a thorough understanding of mortgage underwriting, and the ability to work effectively in a fast-paced environment. Responsibilities include working with various investor applications to obtain workout results, notifying and coordinating with appropriate departments and agencies regarding loans, and processing workouts accurately and timely within investor guidelines. Additionally, the underwriter is responsible for accurately and efficiently maintaining a loan-level portfolio, ensuring compliance with regulatory and investor deadlines.

Job Responsibilities:

• Request and gather supporting documentation to create complete loan workout packages within required timeframes, complying with investor, insurer, state, federal, and CFPB guidelines.
• Evaluate and underwrite loss mitigation applications, including forbearance agreements, repayment plans, partial claims, deferrals, and loan modifications.
• Analyze borrower financial statements and supporting documentation to determine appropriate resolutions.
• Assess risk and make informed decisions using investor waterfalls and guidelines to mitigate potential losses.
• Collaborate with various investors to decide on retention eligibility for borrowers experiencing hardships.
• Conduct timely, accurate, and compliant reviews of files according to investor guidelines and National Servicing Standards.
• Utilize investor applications to obtain workout results.
• Notify and coordinate with relevant departments and agencies regarding loan statuses, ensuring accurate and timely processing.
• Maintain a loan-level portfolio accurately and efficiently, adhering to regulatory and investor deadlines.
• Evaluate income and expense calculations to ensure the borrower's ability to continue making mortgage payments.
• Follow up on outstanding issues to ensure timely decision-making in accordance with regulations and guidelines.
• Order appraisals and ensure homeowners receive valuation notices and copies.
• Order date downs and/or title endorsements for modifications.
• Obtain necessary title clearance and subordination documentation.
• Prepare income/expense calculations to ensure compliance with standards.
• Provide accurate information to resolve issues and follow up on commitments promptly.
• Develop workout recommendations such as forbearance, repayment, or modification using financial documents.
• Enter and upload documents to internal systems for review and approval.
• Follow information security policies.
• Assist with internal and external audit requests.
• Participate in projects to improve business performance.
• Communicate effectively with the management team and escalate issues as needed.
• Stay current on industry regulations and recommend updates to internal policies and systems.
• Update internal tracking and investor systems accurately.
• Run waterfall calculations to finalize workout options.
• Provide input on updates to procedure manuals or job aids.
• Perform other duties as assigned.

Job Qualifications:

• Minimum of two or more years total mortgage servicing experience, or at least one year working in loss mitigation roles.
• Strong working knowledge of FNMA/ FHLMC/ FHA/ VA/ USDA mortgage loan documents, including overall processes and inter-relationships, standards and requirements, terminology, compliance and regulatory requirements related to federal debt collection laws, Federal Bankruptcy Laws, and proper handling of other legal situations.
• Knowledge of Standard Operating Procedures, CFPB, FCRA, and FDCPA preferred.
• Strong analytical and decision-making skills.
• Thorough understanding of mortgage underwriting and loss mitigation processes.
• Detail-oriented with a high level of accuracy and integrity.
• Highly organized and detail-oriented; ability to work in a fast-paced, department-metrics-driven environment required.
• Intermediate math skills required.
• Familiarity with document retention software; Blitzdoc /ICE preferred.
• 10-key by touch is strongly preferred.
• Excellent verbal and written communication skills required.
• Highly organized and detail-oriented; ability to work in a fast-paced, metrics-driven environment required.
• Proficiency in Microsoft Office Suite, Word, Excel, Wiki, collaborative cloud-based programs, and third-party software applications required.

EEO Statement: The staffing industry has seen an increase in people falsely representing themselves as recruiters to gather personal information from job seekers. For your safety, do not provide sensitive data to anyone you have not spoken with thoroughly, never provide banking information during the application process, and always double check the email address of the Recruiter to ensure it is from an official domain and not a domain with an alternative extension like .net, .org, or .jobs.

The organization is an equal opportunity employer. It is our practice not to discriminate against any employee or applicant based on any criteria, condition or basis protected by laws or regulations in the locations where we do business. All qualified applicants are encouraged to apply. We celebrate diversity and are committed to providing an environment of mutual respect. If you have a disability or handicap and would like us to accommodate you in any reasonable way, please inform your recruiter, or contact us, so that we can discuss the appropriate alternatives available.