Bilingual (FR / EN) Loan Restructure Specialist

This position is responsible for making decisions by assessing and processing modifications to keep the loan performing, the homeowner in their home and to prevent the costs and risks associated with a foreclosure. This position impacts the ability to satisfy investor audits while ensuring compliance with insurers and meeting regulatory requirements. This role is critical to MCAP’s report card in the save category from the Mortgage Insurers. This position will have direct contact with the homeowner, insurer, Realtor, property manager and appraiser.

Review the loan

• File is referred from Collections when a special payment arrangement is not sufficient to resolve the arrears. Review the details and reason for default.
• Review the policies / procedures for the Lender and mortgage insurer if applicable.
• Assess if a loan restructure or payment assistance is viable.

Collect the data

• Call to the homeowner to collect additional information.
• Perform in-depth and sensitive probing and investigating to understand the needs of the homeowner while being sensitive to their situation.
• Obtain a credit bureau, a current market valuation of the property and a title search.
• Prepare an analysis worksheet to assess the data.

Review Data for Restructure Solutions

• Verify information on analysis worksheet and with credit bureau to ensure accuracy.
• Verify information to ensure it meets MCAP, lender / investor and insurer guidelines.
• Adjudicate information received and address any discrepancies or inconsistencies.
• Document and accurately update the system to support the recommendation for approval.
• Document the conditions required for approval.
• Evaluate possible solutions based on an understanding of the information gathered.
• Able to think outside the box to discern when exceptions are required.

Homeowner Contact

• Respond to questions or concerns with intent to build trust via phone, email, fax.
• Ensure solutions meet the needs of the homeowner and provide all options to assist in making an informed decision.
• Negotiate in the best interest of MCAP, the Lender / Investor, the Insurer and the homeowner.

Recommend approval

• Prepare analysis and recommendation to manager for approval and / or decline if outside Loan Restructure Specialist’s authority.
• Prepare analysis and recommendation to mortgage insurer if over Lender’s authority limit.
• Prepare analysis and recommendation to Lender if outside of MCAP’s authority limit.

Process the Loan Restructure

• Post entries to capitalize interest, re-amortize the loan, re-calculate the principal and interest portions in a timely and accurate manner.
• Set-up loan restructure fee for collection from homeowner.
• Send out letter to homeowner outlining changes to loan and include new amortization schedule.
• Document “Loan Restructure” solution in appropriate Mortgage Servicing system(s).
• Track the data and type of loan restructure to determine if solution provided was successful in preventing the loan from being referred for legal action and the overall performance of the team.
• Assist and educate team members on restructure options.
• Communicate to manager any knowledge or suggestion to aid in the continuous improvement of the business.
• Update business procedures to meet changing requirements.

What You Bring To The Team

• Knowledge of mortgage default and collection experience.
• Knowledge of MCAP, Lender and mortgage insurer default policies & procedures.
• Understands credit reports and real estate valuations to assess appropriate solution for borrower.
• 3 years' experience in the Residential Mortgage industry.
• Underwriting experience is an asset.
• Excellent oral and written communication skills.
• Excellent organizational and time-management skills.
• Ability to multi-task in a fast-paced environment.
• Strong analytical and problem-solving skills.
• Proven ability to foster relationships.
• Self-driven, motivated with the ability to work independently and in a team environment.
• Carries out duties with integrity and takes responsibility for actions.
• Proven track record of being a self-starter and self-motivated.
• Must be flexible and approachable.
• Sound decision-making ability and results-oriented.
• Detail-oriented with ability to see the “big picture.”
• Strong work ethic, reliable, dependable.
• Ability to work with limited supervision.
• Ability to think outside the box.
• Proficient in MS Office applications (Excel, Word).
• Bilingual French and English is required for this role.