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Loss Mitigation Specialist

Spectraforce Technologies
United States, Maine, Portland
Apr 29, 2026
Job Title: Loss Mitigation Specialist Location: Fully Remote (must work in EST hours) Duration: 4 months Assignment (Potential to conversion and extension depends on performance) Shift/Hours: 40hours/week, M-F core business hours (8am - 5pm but a potential to work 12pm to 9pm) - drop day on the week when working on the Saturday. Rotation: Saturday's once every 4 weeks. Summary: The Loss Mitigation Specialist III performs a variety of activities related to reducing potential losses from problem accounts. Specializes in or leads the activities of one or more of the following areas: Loss Mitigation, Bankruptcy, Probate, and Workout. Initiates processing and resolution of bankruptcy, foreclosure and workout activities for assigned accounts, focusing on homeownership counselling activities and negotiating workout solutions and ensuring prompt resolution of legal matters. Roles and responsibilities: Resolves escalated issues and problems by conferring with leadership staff and or other internal departments or others as necessary. Primary point of contact for borrowers experiencing financial hardship, providing guidance on loss mitigation options and foreclosure alternatives. Evaluate borrower financials to determine eligibility for Loss Mitigation options based on GSE / investor type to resolve complex homeowner inquiries and concerns. Utilize both manual and automated calling techniques to reach delinquent homeowners. Address and resolve 60+ day delinquent mortgage loans, utilizing comprehensive knowledge of investor, departmental, and legal requirements. Cultivate better customer understanding of their mortgage terms, review delinquency patterns, and negotiate payment arrangements. Interacting with External customers and internal stakeholders. Must Have skills: 3+ years' experience required. Proven knowledge and experience in effective collection regulations, techniques and practices. Detailed knowledge of loan agreements and security agreements. Ability to apply understanding of bankruptcy law, principles and practices related to real estate transactions to accounts managed. Knowledge of real estate investor and insurer guidelines Knowledge of foreclosure procedures and legal and regulatory guidelines, including mobile homes and agency loans (VA, HUD and others). Knowledge of legal regulations relating to real estate resale after foreclosure. PC skills. Knowledge of workout options. Knowledge of real estate investor and insurer guidelines. Communication skills, both verbal and written. Additional details: Scope of Project: N\A - Customer facing role (loss mitigation). Team Size/Culture: 25 ppl. Training Period: 6 weeks. Opportunity working within a leading financial institution. How much time is being spent in meetings: 30 minutes a week.