Loss Mitigation Analyst (Residential)

This position evaluates residential 1-4 loans from financially distressed borrowers to mitigate loss for the Bank. Primarily reviews loans secured by Real Estate, analyzing financial statements to determine credit solutions. Rehabilitates problem residential 1-4 loans when possible and ensures all proposals comply with applicable regulations. Sends applicable notices and disclosures as required by regulation or investor guidelines. Assists management with special projects and reports through knowledge of loss mitigation processes, residential products, and loss mitigation tactics. Reviews equity analysis for potential losses. This position is considered the first line of defense and expected to maintain a high level of attention to detail, analyze facts, and make sound decisions in order to mitigate risk to the Bank. Loans in scope include first trust deeds, as well as a concentration of in-draw construction.

• Works directly with borrowers on both forward mortgage and construction loans to restructure transactions mitigating loss.
• Evaluates distressed retail loan applications according to applicable regulations, procedures, and guidelines. Reviews financial statements and results of analysis to determine appropriate remedy within credit authority. Renders account decisions for the equity review, write-down, and charge-off processes.
• Analysis - Sources, compiles, and interprets financial data. Performs impairment analysis on identified problem credits. Assists management with analysis and documentation requests on Loss Share portfolios and portfolios serviced by others.
• Documentation - Ensures all information keyed into various systems is clearly and accurately documented. Ensures all documents related to the application are complete and lack deficiencies.
• Business Support - Builds and maintains strong relationships with associates, managers, and other key stakeholders. Maintains knowledge of Bank strategy and supporting initiatives.
• Portfolio Servicing - Participates in servicing efforts for acquired institutions. Works with acquired institutions to service defaulted or covered assets, and to assist with mortgage loans, modifying or recommending charge off as appropriate.

Bachelor's Degree and 4 years of experience in Consumer, retail or residential mortgage loss mitigation OR High School Diploma or GED and 8 years of experience in Consumer, retail or residential mortgage loss mitigation

Preferred Area of Experience: Loss Mitigation Analysis

Skill(s): Strong understanding of financial principles and concepts, Knowledge of industry-specific regulations and laws (i.e. TILA, RESPA, ECOA, HMDA, SAFE, FDCPA etc.)

First Citizens benefits programs are designed to meet our associates where they are in life. Full-time associates (20+ hours) are offered a comprehensive benefits program, with customized offerings, including those designed to support families, however defined. More information regarding our benefits offerings can be found here: https://jobs.firstcitizens.com/benefits.

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