Conduct face to face meetings with customers in default or at high risk for delinquency to evaluate their financial ability, intent, willingness, reason/risk for default, and apply the appropriate retention or liquidation solutions.
*Meet with non-profit agencies, loan officers, bank personnel and other referring agencies to identify potential customers – more... in need of advisory services. Make outbound calls to potential customers who need advisory services
*Recommend and initiate loss mitigation workouts that are appropriate to the situation according to the Net Present Value (NPV) or Profit and Loss (P&L) results that are within internal guidelines and policies.
*Negotiate and formalize repayment arrangements with customers when appropriate. This includes verifying arrears, formulating terms of repayment.
*Negotiate with beneficiaries, attorney firms and other third parties that have an interest in subject properties via voluntary and involuntary liens, in order to arrive at solutions that represent the interests of JPMC and its investors.
*Ensure requirements are met for deed-in-lieu and short pay transactions; including ordering/reviewing title, reviewing trusted sales guarantees and encumbrance of record reports or other available information.
*Examine, review and re-negotiate real estate purchase offers including sales terms, concessions and timing issues.
*Review and audit estimated and final real estate property closing statements to ensure agreed upon sale terms are complied with.
*Make default servicing postponement decisions based on facts presented and the risks/rewards associated with accepting short payoff and deed in lieu transactions.
*Coordinate and facilitate loss mitigation efforts with associated departments, foreclosure counsel, investors, Agencies, master servicing, default and real estate vendors and mortgage insurance companies.
*Ensure the execution of modifications/repayment documents.
*Initiate and monitor research on accounts as required.
*Comply with standards associated with customer contact including (Fair Debt Collections Practices Act )FDCPA regulations.
*Participant in all HOPE NOW initiatives and work with Chase's Homeownership Preservation Office to assist impacted customers – less