Loss Mitigation Specialist at Selina Finance

Dallas, Texas, United States

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Not SpecifiedCompensation

Mid-level (3 to 4 years), Senior (5 to 8 years)Experience Level

Full TimeJob Type

UnknownVisa

Financial Services, MortgageIndustries

Requirements

Excellent attention to detail
Ability to multi-task and consistently meet multiple deadlines
Strong verbal and written communication skills
Ability to work in a team environment
Ability to use good judgment
Strong consulting and advising customer communication skills via telephone and written communication
Adaptability - Adapts to changes in the work environment, manages competing demands, changes approach or method to best fit the situation, able to deal with frequent change, delays, or unexpected events
Business Ethics – Treats people with respect

Responsibilities

Contributes to the progress of the department by understanding the measurements used to define success and how they can positively impact those measurements
Meets monthly individual and team goals and key performance indicators
Handles a portfolio of multiple mortgage products that are 90+ days delinquent, or have requested loss mitigation, as governed by investor, departmental and legal guidelines; minimizing the loss due to foreclosure through the use of loss mitigation options (non-traditional workouts such as Short Sales, Deeds-in-Lieu, and high risk customer types)
Receives inbound calls and makes outbound calls to customers, attorneys, realtors and other authorized parties on the account and educates them on options available to resolve delinquencies
Understands and discusses customers’ general requirements for loan modifications, short sales, deeds in lieu, cash for keys, consents to judgment and other loss mitigation options
Analyzes specific financial situations; recommends and initiates the proper loss mitigation tool to assist each borrower
Conducts light skip-tracing activities
Reviews title searches to ensure that no title issues threaten the standing of our investor’s lien on the property
Ensures compliance with company policies and procedures
Reviews and updates daily reports and accounts
Acts as the Single Point of Contact (SPOC) for a portfolio of non-performing assets to contact, negotiate and complete loss mitigation alternatives to minimize foreclosure losses
Handles specialty functions within the SPOC department such as liquidation outcomes, bankruptcy customers, and high value customers

Skills

Key technologies and capabilities for this role

Loss MitigationMortgage ServicingNegotiationBankruptcy HandlingPortfolio ManagementInvestor GuidelinesDelinquent LoansForeclosure PreventionSPOCLiquidation

Questions & Answers

Common questions about this position

Is this a remote position?

No, this is an in-office position and not a work from home opportunity.

What is the work schedule for this role?

The schedule is 11a-8p Monday – Thursday / 8a-5p Fridays / 1 Saturday per month 8a-12, with training Monday-Friday 8a-5p CST. Overtime is available but there are no flex Fridays.

What skills are required for the Loss Mitigation Specialist role?

The role requires mastery of loss mitigation processes, handling portfolios of non-performing assets including short sales and deeds-in-lieu, customer negotiation via inbound/outbound calls, financial analysis to recommend options, light skip-tracing, and reviewing title searches for compliance.

What is the company culture like at Selene Finance?

Selene seeks employees with a positive attitude, proven creative thinking, and actions to make a difference, while striving to provide amazing client and borrower experiences.

What makes a strong candidate for this position?

A strong candidate has proven mastery as a Loss Mitigation Specialist, can act as the Single Point of Contact for non-performing assets, handle specialty functions like bankruptcy and high-value customers, meet individual and team goals, and ensure compliance with guidelines.

Selina Finance

Flexible home equity lending solutions

About Selina Finance

Selina Finance offers flexible lending solutions for homeowners in the UK, focusing on home equity lending. Their main products include a Home Equity Line of Credit (HELOC), which allows borrowers to access funds against their property equity and only pay interest on the amount used, and a Homeowner Loan, which provides a fixed sum upfront. Unlike other lenders, Selina Finance's HELOC offers unique flexibility in borrowing amounts over the first five years. The company's goal is to help homeowners finance large purchases by leveraging the equity in their homes at competitive interest rates.

London, United KingdomHeadquarters

2019Year Founded

$50.4MTotal Funding

SERIES_BCompany Stage

Fintech, Financial ServicesIndustries

51-200Employees

Risks

Rising UK interest rates could make Selina's loans less attractive to borrowers.

Increased competition from fintechs may erode Selina's market share.

Potential UK regulatory changes could increase compliance costs for Selina Finance.

Differentiation

Selina Finance offers the UK's first Home Equity Line of Credit (HELOC).

Their HELOC product provides flexible borrowing against home equity, unique in the UK market.

Selina Finance combines real estate, finance, and technology for next-generation lending solutions.

Upsides

Partnership with Legal & General expands access to a large network of mortgage advisers.

Recent $150M Series B funding boosts Selina's capacity for growth and product development.

Increased demand for flexible financial products aligns with Selina's offerings.

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