Loss Mitigation Underwriter I

This is a hybrid role, where the working schedule will occur both inside and outside of a company office. This role can be located in Raleigh, NC.

The Loss Mitigation Underwriter I underwrites and evaluates applications from existing borrowers experiencing financial distress to mitigate loss for the Bank. Primarily reviews Real Estate loans, analyzing financial statements to determine credit solutions. Rehabilitates problem retail loans when possible and ensures all underwriting complies with applicable regulations. Sends applicable notices and disclosures as required by regulation or investor guidelines. Assists management with special projects and reports through knowledge of underwriting processes, retail products, and loss mitigation tactics. Reviews equity analysis for accuracy and completeness. This position is considered the first line of defense and expected to maintain a high level of attention to detail, analyze facts, and make sound decisions in order to mitigate risk to the Bank.

• Underwriting- Underwrites and evaluates distressed retail loan applications according to applicable regulations, procedures, and guidelines. Reviews financial statements and results of analysis to determine appropriate remedy within credit authority. Renders account decisions for the equity review, write-down, and charge-off processes.
• Analysis - Sources, compiles, and interprets financial data. Performs impairment analysis on identified problem credits. Assists management with analysis and documentation requests on Loss Share portfolios and portfolios serviced by others.
• Documentation - Ensures all information keyed into various systems is clearly and accurately documented. Ensures all documents related to the application are complete and lack deficiencies.
• Business Support - Builds and maintains strong relationships with associates, managers, and other key stakeholders. Maintains knowledge of Bank strategy and supporting initiatives.
• Portfolio Servicing - Participates in servicing efforts for acquired institutions. Works with acquired institutions to service defaulted or covered assets, and to assist with mortgage loans, modifying or recommending charge off as appropriate.

Bachelor's Degree and 2 years of experience in Consumer, retail or mortgage underwriting, Loss Mitigation, Processing, Default or Quality Control

OR

High School Diploma or GED and 6 years of experience in Consumer, retail or mortgage underwriting, Loss Mitigation, Processing, Default or Quality Control

Preferred Qualifications:

• Loss Mitigation Underwriting
• Strong working knowledge of mortgage and real estate underwriting and documentation is required and expertise with FNMA and FHLMC is desired
• Strong attention to detail, able to work in smaller group and in a fast paced environment
• Strong organizational skills
• Strong understanding of financial principles and concepts
• Knowledge of industry - specific regulations and laws (i.e. TILA, RESPA, ECOA, HMDA, SAFE, FDCPA etc.)

Benefits are an integral part of total rewards and First Citizens Bank is committed to providing a competitive, thoughtfully designed and quality benefits program to meet the needs of our associates. More information can be found at https://jobs.firstcitizens.com/benefits.