Loss Mitigation Specialist Cover Letter

I am excited to be applying for the position of loss mitigation specialist. Please accept this letter and the attached resume as my interest in this position.

In my previous role, I was responsible for support to Core Collections team by consulting on collection strategy and reviewing problematic contract that may require further action.

Please consider my qualifications and experience:

• Familiar with FHA, Conventional loans, and Treasury modification programs
• Strong knowledge of all facets of residential lending in the mortgage industry
• Broad understanding of underwriting criteria
• In-depth understanding of computer loan application systems
• Proficient in MS Office Windows, MS Word, MS Excel, MS Outlook
• Prefer LPS experience
• Knowledge of Fair Debt Collection Protection Act
• Working knowledge of FHA and VHA 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

I am excited to be applying for the position of loss mitigation specialist. Please accept this letter and the attached resume as my interest in this position.

In the previous role, I was responsible for training and guidance to ensure compliance with Regulatory Requirements and Guidance, Standard Operating Procedures (SOPs), Departmental Operating Instructions, protocols and other governing documentation by Operations and Quality personnel.

I reviewed the requirements of the job opening and I believe my candidacy is an excellent fit for this position. Some of the key requirements that I have extensive experience with include:

• May initiate loss mitigation activities after approval of foreclosure
• Reviews loan files on bankrupt accounts to determine if fraud is involved
• Represents Company at bankruptcy, probate and workout hearings
• Experience with the Delegated Underwriting and Servicing (DUS) program is preferred
• LPS/MSP experience
• Proficient working knowledge of FHA and VHA 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
• Excellent computer skills, including Excel and Word, MSP preferred
• Experience with accounting systems is highly preferred

I am excited to be applying for the position of loss mitigation specialist. Please accept this letter and the attached resume as my interest in this position.

In the previous role, I was responsible for consultations to departments on specialized aspects of procurement such as prevailing wage laws, warranties, workers’ compensation and independent contractor requirements, federal contract terms, and insurance requirements.

My experience is an excellent fit for the list of requirements in this job:

• Strong working knowledge of FHA and VHA 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
• Prior experience in the financial services or related industry with a specific skill set in clerical/administrative work, customer service operations, collections and/or outside collection agency support
• Daily Scorecard
• Effective communication skills, both written and verbal, and organizational skills
• Role requires thorough knowledge of financial and credit analysis techniques, applicable guidelines
• Provides technical guidance and assists staff with the most complex aspects of work as necessary
• Demonstrated track record of collateral recovery delinquency reduction
• High School diploma or equivalent and on-the-job training

In response to your job posting for loss mitigation specialist, I am including this letter and my resume for your review.

Previously, I was responsible for accurate asset valuation and consult with borrowers regarding feasibility of debt restructuring or foreclosure.

My experience is an excellent fit for the list of requirements in this job:

• Experience as Bankruptcy Specialist, Paralegal or Mortgage Originator is preferred
• Complies with all Credit Union policies and procedures including those related to Bank Secrecy Act regulations
• Extensive knowledge in all aspects of the disputes process including representments, compliance, arbitration and merchant requirements
• Exhibit sound judgment, problem solving, and analytical skills
• Strong working knowledge of conventional and government 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
• Strong project management, interpersonal, and problem-solving skills
• May meet with Customers in person to discuss workout possibilities
• May initiate processing and resolution of bankruptcy, foreclosure and workout activities for assigned accounts, focusing on homeownership counseling activities and negotiating workout solutions and ensuring prompt resolution of legal matters

I submit this application to express my sincere interest in the loss mitigation specialist position.

In the previous role, I was responsible for management with information on credit issues related to notification of bankruptcy and bad debt issues.

My experience is an excellent fit for the list of requirements in this job:

• Knowledge of all regulatory rules that apply to communication with customers such as the FDCPA, RESPA, FCRA, Reg X, TCPA state laws
• Some college or equivalent experience as a mediator in foreclosures
• Knowledge of Consumer Finance Protection Bureau (CFPB) and Fair Debt Collection Practices Act (FDCPA) guidelines preferred
• Understanding of Loss Mitigation, collections, servicing and loan accounting systems
• Working understanding of Loss Mitigation
• Working knowledge of 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
• Process completed re-ages
• Monitor, process, approve, and decline extension request