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Loss Mitigation Supervisor

City: O'Fallon
State/Territory: US-MO


Who is Cenlar?

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Employee-owners have made Cenlar one of the nation’s largest mortgage subservicers.  We have achieved success by empowering people with company ownership, real programs that provide avenues for advancement, and a great atmosphere that makes everyone look forward to the workday.  Get your share of our success by considering the opportunity to join our team as a Loss Mitigation Supervisor.



  • Manage and process loss mitigation alternatives for collection, foreclosure, and bankruptcy cases, in an effort to avoid potential foreclosure and REO exposure.
  • Supervise daily operational functions of the evening collectors.
  • Work with borrowers, both written and orally, through workout negotiations in an attempt to mitigate foreclosure/REO avoidance/losses. 
  • Review financial statements, listing contracts, agreement of sale, closing costs, and settlement sheets for accuracy, and guideline compliance and determine alternative resolutions when needed.
  • Work closely with department manager to determine and implement loss mitigation techniques, inclusive of but not limited to, short sales, loan modifications, special formal forbearance, plans, deed-in-lieu, hardship assumptions, and partial claim payments.
  • Maintain extensive and up-to-date knowledge with respect to loan type/investor/PMI requirements; implement loan workout techniques in compliance with updates, including workout monitoring and solicitation of overdue accounts and foreclosure and bankruptcy cases.
  • Productive use of workstations to fully update and document in detail loan workout activity.
  • Effectively transmit workout loan summary particulars to investors and routinely follow-up for outcome.
  • Disburse payments to various vendors associated with Loss Mitigation activities.
  • Create and update managerial detail reports and spread sheets pertinent to the workout function and progress of loans on a monthly basis.
  • Maintain accurate records and delinquency reporting requirements on FHA and investor clearing; indicate reason for delinquency codes.
  • Other duties as assigned.



  • High school education
  • Minimum of 3-5 years experience in a default/loss mitigation environment
  • Knowledge of regulatory requirements a plus
  • Strong verbal and written communication skills
  • Strong negotiating and follow-up skills
  • Ability to meet strict deadlines
  • Ability to work with minimal to moderate supervision


Total Rewards:

Cenlar FSB offers outstanding benefits which may include paid medical/dental/life insurance, 401k, employee ownership, tuition assistance, a supportive work environment, and genuine opportunities for advancement. Cenlar is a Drug Free Workplace and an Equal Employment Opportunity/Affirmative Action Employer -- M/F/D/V/SO.

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