Loss Mitigation specialists offer support to mortgage owners who are at risk of foreclosure. Their main duties include assessing the clients’ financial situation, carrying out financial analysis, presenting reports to management, updating clients on necessary information and receiving payment on loss mitigation cases.
For many, writing a resume can be daunting. If you are working on your own, it is easy to become overwhelmed with the amount of information you need to include and how best to present yourself.
The sample resumes below provide great examples of how to write an effective resume.
The Best Loss Mitigation Specialist Resume Samples
These are some examples of accomplishments we have handpicked from real Loss Mitigation Specialist resumes for your reference.
Loss Mitigation Specialist Resume Sample 1
- Manage case file for commercial properties by evaluating hardship or other financial problems affecting the borrower, investigating the property condition, and preparing legal documents.
- Negotiate workout agreements to avoid foreclosure sale.
- Resolve filing errors in connection with foreclosure process by identifying incorrect documents filed during foreclosure action; determine correct status of loans.
- Establish protocols for staff to review all loan modifications resulting from a trial period before determining eligibility for permanent modification.
- Create new procedures to reduce time required for agency review of affidavits used in foreclosure proceedings by 25%.
Loss Mitigation Specialist Resume Sample 2
- Analyzed documentation to determine what is needed for successful resolution.
- Revised the process to reduce delay in decision making.
- Trained staff on our new policy resulting in increased productivity by almost 100%.
- Redefined internal controls to ensure accuracy of assigned accounts during one month evaluation period.
- Earned the admiration and appreciation of my team for bringing order out of chaos when I handled assignment of an extremely difficult account that had languished in the system for over 6 months with no progress.
Loss Mitigation Specialist Resume Sample 3
- Restored over $400,000 with loss mitigation efforts.
- Presented and trained new hires on the use of software to streamline denial letters and expedite the foreclosure sale process with accuracy and speed.
- Conducted trainings for branch staff in all aspects of loan processing and servicing including transfer requirements, lock procedures, distribution of documents, and routing practices in accordance with company policies and procedures.
- Turned around a delinquent portfolio by implementing a firm but fair approach with customers; reduced delinquencies by 16%.
- Achieved 32% decrease in early payment defaults (EPDs) via telephone outreach to borrower’s re-performing delinquent loans; earned award for outstanding service.
Loss Mitigation Specialist Resume Sample 4
- Influenced the successful negotiation of $6,000,000 in loan modifications.
- Effectively maintained good rapport with over 1,500 borrowers during periods of financial hardship by modifying terms for remaining monthly payments.
- Recognized as a consistent performer after improving production from two to five accounts per month within one year.
- Achieved award for outstanding performance as a loss mitigation specialist; emerged as a top producer and ranked fourth out of twelve staff members.
- Earned appreciation as a consistent performer; initiated consistent improvement by reducing delinquent accounts from 10% to 3%.
Loss Mitigation Specialist Resume Sample 5
- Returned $4,000 monthly income for Senior Client after contacting delinquent tenant and negotiating payment plan.
- Approved loan to First Time Buyer with non-traditional down payment sources for $120,000 home; discussed alternatives with seller to address concerns regarding borrower’s employment history.
- Earned award as top branch professional in loss mitigation area; participated in over 80 negotiations where delinquencies were resolved within the first 24 hour period of contact.
- Collaborated w/Realtor & Seller on solution combining Loan Modification & Short Sale that satisfied all parties’ interests.
- Secured mortgage underwriting exception due to clients unique asset mix during housing collapse; averted foreclosure by convincing county recorder to accept previous unrecorded deed of trust w/purchase money mortgage.
Loss Mitigation Specialist Resume Sample 6
- Negotiated a fifty-percent reduction in interest rate for homeowner who had won appeals and reduced his debt by $200,000.
- Resolved complicated and contentious disputes between homeowners and mortgage companies; acted as intermediary between groups with opposing interests.
- Doubled property value through marketing efforts; activities were recognized twice by the President of the Company for outstanding contributions to team performance.
- Achieved recognition from customers and peers for professionalism, responsiveness, resourcefulness, and effectiveness.
- Facilitated solution for out-of-state foreclosure; helped purchaser obtain loan that resulted in sale of residence at auction.
Loss Mitigation Specialist Resume Sample 7
- Resolved more than 80 mortgage delinquencies through both direct face-to-face and telephone negotiations with lenders, servicers, owners, investors, borrowers, trustees; revived more than $3 million of potential losses for companies.
- Used sophisticated software to develop real estate loss mitigation plans that maximized the present value of future cash flows by reversing or avoiding foreclosure events; reduced losses by $5 million.
- Earned recognition for being a top producing representative in mortgage foreclosures sales territory with an average annual production volume exceeding 400 residential properties per year; generated over $125K commissions annually.
- Effectively organized daily operations for Mortgage Foreclosure Sales Team to ensure coordinated efforts towards meeting the year’s projection of $120 million.
- Negotiated a moderate discount on a personal residence, saving more than $30K from the original list price after foreclosure threat.
Loss Mitigation Specialist Resume Sample 8
- Worked with homeowners and lenders to negotiate loan modifications for home owners in default.
- Persuaded delinquent borrowers into repayment agreements that satisfied unhappy banks; minimized financial loss and protected revenue while improving customer service performance.
- Followed up on delinquent payments, managed escrow accounts to ensure proper disbursements. Handled seven foreclosure cases from beginning to end including title work, legal services, and real estate auctions.
- Solved the problem of eight bank-owned properties by renegotiating terms with original mortgage holders after lender acquired loan during trustee sale proceedings; contributed to fund-raising efforts for an elementary school music program totaling $1650 in funds collected through donation drives conducted by students and faculty.
- Identified over 500 properties that were at risk of foreclosure, collected past due payments or fees then negotiated with lenders to postpone repossession of those properties; successfully intervened during trustee sale proceedings to delay foreclosure.
Loss Mitigation Specialist Resume Sample 9
- Arranges for one-on-one meetings with owners to get a clear picture of their financial challenges.
- Conducts site visits, invoices, and mailings in support of critical communications.
- Developed a new tool that collects information on commercial properties for the loss mitigation process.
- Ensured compliance by commercial owners with loan terms through various letters and agreements. Performed 100% followup after term expiration dates without exception or compromise.
- Recognized as “bank ambassador” for positive impact on both owner relations and bank profitability; able to maintain high quality while reducing lost assets 13%. Turned around negative trends from 38% underperforming assets down to 22%, resulting in over $1.5 million in increased revenue to bank.
Loss Mitigation Specialist Resume Sample 10
- Consistently exceeded the average daily productivity by maintaining a 98% close ratio for file assignments within 7 days of receiving case.
- Successfully negotiated short sales with reluctant homeowners, managing to sell 68 properties that were not receiving any offers from other agents or brokers.
- Managed a portfolio of 28 distressed properties, keeping an average delinquent mortgage balance below $118,000 while losing only 3.7% on re-sales.
- Efforts achieved an average short sale close ratio of 99%, compared to the regional average of 78%; a rising star in a losing market.
- Gained regional recognition for foresight into market trends that helped close over 100 transactions before the housing market collapsed.
To work as a loss mitigation specialist, you require a bachelor’s degree in finance or its equivalent and an American Bankers Association (ABA) training course. Loss mitigation specialists must demonstrate confidentiality, excellent communication skills, financial skills, problem-solving skills, analytical skills customer relations skills and organizational skills.
Resumes are a crucial aspect of any job search. In order to make a good first impression, it is important that your resume be formatted and written professionally. To create the perfect resume, think about what skills and qualities you want your future employer to see.
Hope these samples gave you an idea of what your resume should look like and some tips on how to make sure that your resume stands out from the rest.