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Supervisor, Loss Mitigation (Letters)

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 Supervisor, Loss Mitigation.

The Supervisor, Loss Mitigation is responsible for the management and processing of loss mitigation alternatives for collection, foreclosure and bankruptcy cases. These loss mitigation techniques apply to the total portfolio of Central Loan Administration in an effort to avoid potential foreclosure and REO exposure. In addition to the above loss mitigation outline, this role will also supervise daily operational functions of the evening collectors.


  • Works with borrowers both written and orally through workout negotiations in an attempt to mitigate foreclosure/REO avoidance/losses.Must be able to review financial statements submitted by borrower(s), listing contracts, agreement of sales, closing costs and settlement sheets submitted by various realtors in an effort to determine alternative win/win resolutions, accuracy, and guideline compliance
  • Works closely with Loss Mitigation Manager in determining and implementing loss mitigation techniques inclusive of but not limited to, short sales, loan modifications, special formal forbearance, plans, deed-in-lieu’s, hardship assumptions and partial claim payments
  • Maintains extensive and up to date knowledge with respect to loan type/investor/PMI requirements. Implements loan workout techniques, which are in compliance with such guidelines at all times. This includes the workout monitoring and solicitation of 30, 60, and 90+ day accounts as well as foreclosure and bankruptcy cases
  • Productively uses the CRP Loss Mitigation, Collection, Foreclosure and Bankruptcy workstation, fully updating and documenting in detail the loan workout activity as it pertains to that specific department. Effectively transmits workout loan summary particulars to FNMA/FHLMC and routinely follows up for the decision. Disburse payments to various vendors associated with Loss Mitigation activities
  • 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 monthly basis
  • Maintains accurate records and delinquency reporting requirements throughout the month on FHA, FNMA and FHLMC clearing indicating reason for delinquency codes
  • Performs other related duties as required and assigned by management


  • Bachelor's degree required
  • A minimum of 3-5 years in a default, loss mitigation environment
  • Strong Communication Skills both verbal and written
  • Ability to meet strict deadlines
  • Strong negotiating skills and follow-up skills
  • Ability to work with minimal to moderate supervision
  • Knowledge of regulatory requirements a plus

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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