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Loss Mitigation Coordinator

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


Start something good. Empower your career. Become an employee owner at Cenlar.

Employee owners have made Cenlar the nation’s leading mortgage loan subservicer.  Our unique culture is defined by our core values of respect, trust, integrity and care. Company ownership, a promote-from-within philosophy, and opportunities for continuous professional growth make Cenlar a great place to launch or boost your career. Consider this opportunity to join our team as a Loss Mitigation Coordinator.

The Loss Mitigation Coordinator performs the processing of various loan workouts based on the pre-underwriter’s recommendation in conjunction with investor, insurer and client guidelines.


  • Obtains, submits and receives required documentation to/from investor, insurer and/or client for approval of the elected workout, if applicable
  • Works with internal, external third party vendors and borrower(s) through both written and oral negotiations in an attempt to mitigate foreclosure/REO avoidance/losses
  • Reviews and analyzes borrower’s financial documents such as: financial statement, hardship letter, tax returns, bank statements, pay stubs, listing contracts, agreement of sales, closing costs and settlement sheets and credit bureau reports, if applicable
  • Documents the LPS Loss Mitigation Workstation (notes, steps), generates appropriate letters/tasks and adds documents to the imaging system to substantiate the recommendation, as required
  • Notifies foreclosure attorney regarding status of loss mitigation activity via New Trak Express, if applicable
  • Maintains extensive investor, insurer and client guidelines/timeframes required for processing a loan workout
  • Creates and updates managerial detail reports and/or spread sheet(s) pertinent to the workout function and/or progress of the loan(s) on a daily, weekly or monthly basis, as required
  • Processes payment of suspense, cash sheet and payment plans
  • Completes other duties and projects as assigned
  • Interface:  Overall strong interaction with Unit Manager, staff and internal Department Managers
    • External – Investor, Insurers, Clients, Borrowers and all third party vendors
    • Internal- All other default departments, Customer Service Department, Cash Management, Payoff Department, Conversion/Deconversions Department, Investor Reporting, Special Products and Client Relations.


  • High School Education or GED required
  • 3 - 5 years of experience in a Default environment
  • Highly self-motivated and organized
  • Requires extensive investor, insurer and client knowledge of loan workout guidelines and functional knowledge of residential mortgage documents
  • Ability to meet strict deadlines
  • Ability to work with minimal supervision a must
  • Ability to use and/or learn industry related software specific to Cenlar and the department.
  • Utilize standard business related software is required to include, but not limited to: MS Office, MS Word, MS Excel

Total Rewards:

As an employee-owner at Cenlar, you’ll receive an outstanding benefits package that includes paid medical, dental, and life insurance, 401(k), and tuition assistance as well as opportunities for training and professional advancement.

Cenlar is a drug-free workplace and an equal employment opportunity/affirmative action employer M/F/D/V/SO.


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