Loss Mitigation Specialist I

September 15, 2021

AgFirst Farm Credit Bank provides financing, as well as a range of technology and other services, to a network of agricultural lenders in the United States and Puerto Rico. Located on Main Street in Columbia, S.C., AgFirst is committed to providing a comfortable, inclusive work environment. We believe in investing in our employees so they can help lead our $37 billion company into the future. If you are looking to fuel your professional development and gain exposure in the field of Correspondent Lending apply today!

AgFirst is seeking a Loss Mitigation Specialist I who provides exceptional customer service through loss mitigation administration, reporting and ancillary functions, managing of special requests within communicated service level agreements.

Duties and Responsibilities:
Special Requests and Lien Releases
• Process partial release requests according to Bank, investor, and insurer procedures, documentation standards and guidelines
• Process all other special requests to include but not limited to Release of Liability, Easements, Land Swaps, Subordinations and Gas/Oil/Mineral Rights requests according to Bank, investor and insurer procedures, documentation standards and guidelines
• Create ticket in Customer Service Group (CSG) Assyst to monitor and track all special requests
• Responsible for updating procedures as needed per Bank, investor and insurer procedures, documentation standards and guidelines
• Responsible for reviewing, researching, assigning to the appropriate sub-servicer and preparing lien release as necessary for execution by the Vice President of Correspondent Lending
• Responsible for reviewing, researching, assigning to the appropriate sub-servicer and preparing DMV mobile home title releases for execution by the Vice President of Correspondent Lending
• Responsible for identifying and communicating special request issues with the sub-servicers
• Create and monitor servicing reports as assigned by Manager
• Stay abreast of regulatory and servicing rule updates and guidelines

Loss Mitigation Administration
• Order appraisals, inspections and/or Broker Price Opinions as required
• Monitors the progress of foreclosures to ensure the timely administration of foreclosures per investor and statutory guidelines
• Consults sub-servicers regarding bidding procedures and process per state requirements
• Monitors the progress of loans in bankruptcy, including borrower compliance, actions of the borrower, and escalation or de-scalation of timelines per federal and/or state laws
• Collaborate with investors and sub-servicers on behalf of the borrower to determine borrower eligibility and qualification for the appropriate loss mitigation program solution
• Follow up with investors and sub-servicers to confirm compliance of loss mitigation options

Reporting and Ancillary Functions
• Perform non-accrual review of loans on a monthly basis and provide recommendation to Senior Management
• Review sub-servicer’s loss mitigation report(s) on a monthly basis as needed
• Identify loans modified by sub-servicer on a monthly basis and recommend if loans should be reported as a TDR to Senior Management
• Perform monthly review of bankruptcy loans as needed
• Perform Quarterly Allowance Reporting and complete ASC310 reports as required
• Performs processing of the unit’s real estate owned loans guaranteed by Farmer Mac. This includes the marketing, recommendations for sale, accounting of advances and investor updates.
• Responsible for Farmer Mac delinquency reporting
• Serves as a backup for the preparation of PTF loan setup file for Farmer Mac
• Performs other duties as requested by management

Requirements:
• Associate’s Degree in Business or related field
• A minimum of 1-2 years of experience working with loss mitigation, foreclosures, bankruptcies, special requests preferred
• Knowledge of applicable collection policies and laws
• Excellent follow-up, problem solving and analytical skills
• Excellent written and verbal communication skills
• Ability to interact successfully with a diverse group of personnel at all levels of the organization
• Ability to resolve issues working within established guidelines across organizational boundaries
• Flexibility to handle constantly changing multiple priorities and work under pressure in a fast paced environment
• Ability to work with minimal supervision
• Ability to handle confidential information in a professional manner

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Candidates can apply via the AgFirst careers’ website at https://www.agfirst.com/Careers/Welcome-to-AgFirst-careers.aspx