Loss Mitigation Specialist Cover Letter

Loss Mitigation Specialist Cover Letter

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15 Loss Mitigation Specialist cover letter templates

What to include in a Cover Letter
1
Company Address
2
Salutation
3
Compelling Details
4
Respectful Closing

How to Write the Loss Mitigation Specialist Cover Letter

61022 Stacy Row
Moenside, TN 43883-1224
Dear Finley Kris,

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 information to members regarding membership status, collateral insurance requirements, payment history, and pending credit union action specific to bankruptcy.

Please consider my experience and qualifications for this position:

  • Preferred knowledge of different mortgage loan types (Conv, FHA, VA, USDA)
  • Preferred knowledge of loss mitigation alternatives
  • Bankruptcy, Probate and Workout
  • Knowledge of workout techniques, including short selling and voluntary surrender
  • Maintains appropriate records and documents the collection system in order to preserve a history of actions taken or denied
  • Logs the application on the loss mitigation log and starts to track the Dodd Frank 5 day response requirement
  • Reviews the application for completeness
  • S.A.F.E Act Certified and Licensed Loan Originator in multi-states

Thank you in advance for taking the time to read my cover letter and to review my resume.

Sincerely,

Story Shields

Responsibilities for Loss Mitigation Specialist Cover Letter

Loss mitigation specialist responsible for assistance with obtaining, reviewing and providing required loss mitigation, foreclosure and bankruptcy documentation related to repurchased loans transferring to subservicer.

Initiates 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
Initiates loss mitigation activities after approval of foreclosure
Knowledge of Federal regulations and programs such as Fair Debt Collections Practices Act, Privacy Act, Home Affordable Mortgage Program, Home Affordable Foreclosure Alternatives, is strongly preferred
Provides account analysis to determine recommendation of foreclosure and charge off on defaulted loans
Reviews details of defaulted loans secured by real property to validate if bank has taken necessary steps to make foreclosure recommendation
Completes necessary account documentation, involving inside and outside personnel as needed, and recommends accounts to be reviewed for foreclosure, repossession, charge off, and or litigation
May coordinate auctions and other collection and recovery activities to secure maximum payback for Company owned property
Preferred knowledge of different investor (FNMA, FHLMC, FHA, VA, USDA) requirements

Loss Mitigation Specialist Examples

Example #1

Example of Loss Mitigation Specialist Cover Letter

912 Dietrich Plain
New Darius, NE 71866
Dear Dallas Marvin,

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

Thank you for considering me to become a member of your team.

Sincerely,

Spencer Friesen

Example #2

Example of Loss Mitigation Specialist Cover Letter

22367 Corkery Springs
East Lawrencemouth, AK 49643-6985
Dear Casey Dickens,

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

Thank you for taking your time to review my application.

Sincerely,

Shiloh Hansen

Example #3

Example of Loss Mitigation Specialist Cover Letter

620 Keith Underpass
West Cyndimouth, WI 36280
Dear Brooklyn Tremblay,

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

Thank you for considering me to become a member of your team.

Sincerely,

Lennon Stroman

Example #4

Example of Loss Mitigation Specialist Cover Letter

145 Simonis Dale
East Isaiah, IL 48972-0554
Dear Greer Oberbrunner,

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 really appreciate you taking the time to review my application for the position of loss mitigation specialist.

Sincerely,

Oakley Prohaska

Example #5

Example of Loss Mitigation Specialist Cover Letter

5241 Jewel Square
West Randy, WA 09311
Dear Haven Lind,

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

I really appreciate you taking the time to review my application for the position of loss mitigation specialist.

Sincerely,

River Ratke

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