A Loan Modification Specialist works for the banking industry and assists the clients who are unable to repay the loan or meet the financial obligations of the loan. Roles and responsibilities significant to this role are listed on the Loan Modification Specialist Resume as – helping clients to prevent foreclosure; offering increases in payment terms, assisting with documentation; explaining programs to homeowners; assessing client’s needs and maintaining a complete record of all non-payment transactions.
Those seeking to make a career in this line should mention on the resume the following skills – customer service skills; decision-making skills; negotiation skills, computer competencies; loan procedure knowledge, and negotiation skills. Educational requirements vary from company to company, however, most of the employers prefer to hire those having a degree in the field of finance or business.
Headline : As a Loan Modification Specialist, responsible for performing a variety of functions in servicing Residential loans, including builder speculative and presale loans, land loans, condominium loans, revolving lines of credit, participations sold and/or purchased by company policy.
Skills : Customer Service, Communication Skills.
Description :
Responsible for financial analyses and managing and maintaining files and documents.
Assembled applicable loan documents and upload them to the vendor site.
Processed loan modifications. Verified customer's income documents.
Performed income, credit, and property analysis on conventional loan files submitted with the time frame established by the department.
Performed timely reviews on loans such as modifications, full payoff, short sales, forbearance, deferments, Hardship packages for mortgagors.
Demonstrated an in-depth understanding of governing policies, procedures, and regulations.
Reviewed and requested documents from clients who are looking for a loan modification in lieu of foreclosure of their mortgage.
Experience
5-7 Years
Level
Executive
Education
High School Diploma
Loan Modification Specialist Resume
Summary : Loan Modification Specialist with 2+ years of experience in preparing loan documents and/or modification documents for Commercial and Business Banking Loans per Credit Policy guidelines. and also have a good understanding of loan documents in order to document the appropriate changes and modifications to the original loan documents.
Skills : Customer Service, Communication Skills.
Description :
Responsible for providing a single point of contact to borrowers whose loans are delinquent or at high risk for delinquency.
Assisted borrowers to find solutions to maintain homeownership, including HAMP, proprietary modifications, re-payment plans, etc.
Interviewed borrowers to understand their specific situation; identified and requested the appropriate documents required for loan modification review.
Analyzed the customer's financial situation and make recommendations on loan modifications/workout options to resolve the delinquency.
Ensured necessary information and complete packages are received in a timely manner.
Answered inbound inquiries from borrowers regarding the status of the loss mitigation, loan modification.
Identified, maintained, tracked, and log requested documentation for loan modification review.
Experience
7-10 Years
Level
Management
Education
Diploma
Loan Modification Specialist Resume
Summary : Highly qualified Loan Modification Specialist with experience in the industry. Enjoy creative problem solving and getting exposure on multiple projects, and I would excel in the collaborative environment on which your company prides itself.
Addressed client needs and built financial plans while striving to outperform and exceed prior profitability and revenues.
Built and managed high performing account teams - Hired qualified candidates, created high performing teams, and managed these teams to their highest performance, reaching the firm's established goals.
Sought out and maximized opportunities for account growth.
Ensured that the account plan aligned with client objectives and interests in order to exceed the client's expectations.
Recognized opportunities for account growth, then actualized the value proposition and ensured implementation across the platform.
Achieved Financial Results - Managed financial aspects of account to ensure the plan is met or exceeded in both growth and profitability.
Headed the Customer Relationship Management Team in resolving all the service-related issues.
Experience
10+ Years
Level
Senior
Education
GED
Loan Modification Specialist Resume
Summary : As a Loan Modification Specialist, responsible for Accounting Maintenance will perform a variety of tasks related to payments and adjustments on the loan while proper processes and procedures.
Contacted clients that were in a position to refinance their loan to retain them as a client.
Assisted with monthly regulatory notification process and closed loan file research.
Prepared and reviewed all modification transaction requests/approvals - to determine any special needs, handling or challenges, and work with proper partners and management to resolve or comply.
Determined proper internal or external documentation needs and work to obtain and review documentation.
Completed final booking and follow-up needs.
Monitored and Processed loan transactions.
Provided excellent customer service to borrowers by explaining credit decisions and offering alternative options when needed.
Experience
10+ Years
Level
Senior
Education
High School Diploma
Loan Modification Specialist Resume
Objective : To obtain a Loan Modification Specialist position that will allow me to utilize my skills and past experiences for further advancement and growth.
Determined scope driven by a consumer complaint and or full file looks back.
Specified complaint on behalf of the homeowner.
Conducted a complete review of the foreclosure file within scope to ensure proper action was taken within the default timelines and the financial institution.
Applied proper waterfall procedures were in line and offered to the consumer within the federal lending laws.
Reviewed payment history to assure payments were applied accordingly.
Reviewed files from investors portfolios, insurers, and applicable agencies to ensure compliance.
Performed complex calculations of loan payments and payment adjustments impacting the successful completion of modifications. Analyzed and understand credit.
Experience
2-5 Years
Level
Junior
Education
GED
Loan Modification Specialist Resume
Summary : As a Loan Modification Specialist, responsible for performing a variety of duties mostly related to disbursing and monitoring tax payments. Able to make routine decisions as it relates to taxes and will seek approval on complex and unusual situations.
Skills : Customer Service, Administrative Skills, Effective Communication Skills.
Description :
Responsible for research of files for Deeds of Trust, Escrow Analysis, Recorded Notes, and Recorded Assignments.
Responsible for numerous daily Excel reports.
Opened impediments for follow-ups for required documents.
Trained new hires to navigate through various systems to obtain documents needed to proceed with the login process.
Followed up with Servicers and or Brokers/Vendors regarding the validity of requests and required documentation.
Reviewed reports to ensure adherence to established deadlines and documented reasons for any delays.
Able to use several techniques to systematically break down complex problems or processes into component parts.
Experience
7-10 Years
Level
Management
Education
BS In Accounting
Loan Modification Specialist Resume
Summary : Over 2+ years of related mortgage industry experience, including 2+ years of MERS experience. Advanced knowledge of trailing docs collateral policies and procedures, as well as familiarity with delivery requirements of government investors and agencies.
Skills : Microsoft Excel, Customer Service, Account Management.
Description :
Ensured the System Request Form and Modification Agreement match.
Ensured the modification task opened matches the mod type specified in the modification agreement.
Utilized the Lender Processing Services LPS Director software with maximum efficiency.
Promptly researched and closed tasks on a daily basis within the Division guidelines.
Ensured that changes to the interest rate, principal and interest (P&I) payment unpaid principal balance, due date, maturity date, and loan term and loan type are processed correctly and fully documented on the mortgage servicing package system (MSP).
Changed the loan terms in MSP to meet the new contract terms.
Opened specific tasks if changes from another department are required.
Experience
7-10 Years
Level
Management
Education
Associates In Business
Loan Modification Specialist Resume
Headline : Loan Modification Specialist skilled at working independently under tight deadlines. Trained in entry-level management leadership. Customer service professional seeking a management role.
Skills : Microsoft Office, Customer Service, Account Management, Detail Oriented.
Description :
Recommended loan approvals and denials based on customer loan application reviews.
Originated, review, processed, closed, and administered customer loan proposals.
Compiled database of loan applicants' credit histories, corporate financial statements, and other financial information.
Submitted loan applications to the underwriter for verification and recommendations.
Successfully closed an average of 300 loans per hour. Reviewed over 15 financial statements per hour.
Maintained up to date account distribution information Cross-trained and backed up other customer service managers.
Trained staff on operating procedures and company services.
Identified individual development needs with appropriate training.
Experience
5-7 Years
Level
Executive
Education
Bachelor In Business Admin
Loan Modification Specialist Resume
Summary : Self-motivated, Loan Modification Specialist professional with extensive experience with loan processing, loan closing, loan modifications, and some underwriting for residential and refinance loans. Familiar with but not limited to Hud, and RESPA. Ability to function in a fast past environment and changes.
Skills : Data Entry, Microsoft Office, Customer Service.
Description :
Interviewed loan applicants in order to obtain personal and financial data, and to assist in completing applications.
Verified and examined information and accuracy of the loan application and closing documents.
Ability to pull and understand credit reports.
Calculated review, and correct errors on interest, principal, payment, and closing costs, using computers or calculators.
Analyzed the financial or operational performance of companies facing financial difficulties to identify or recommend remedies.
Gathered documents for loan closing, loan processing, or modifications such as bank statements, pay stubs, RMA, expenses, loan forms, and tax receipts.
Audited all files to ensure packages were complete, accurate, and meet the standards set forth by Citi program guidelines.
Experience
10+ Years
Level
Senior
Education
High School Diploma
Loan Modification Specialist Resume
Summary : Highly motivated and energetic professional seeking a Loan Modification Specialist position that will utilize and build upon 12 years of successful sales, processing, and customer service experience, adding to a strong, verifiable track record.
Skills : Microsoft Office, Multitasking And Great Communication.
Description :
Assisted with personal loans, home equity lines of credit, credit cards, installment loans, and payday loans.
Experienced with Loan Modifications as well as knowledgeable with Making Home Affordable prequalification standards and procedures and provide the assist with the proper paperwork needed with application.
Reviewed Client's financial situation through the one-on-one session, in person, inbound /outbound calls, and via webchat.
Counseled sessions but as the ability to adapt well in a consistently changing environment, flexible and nonjudgmental.
Ability to handle stressful situations & a high volume workload in a consistently calm and professional manager.
Worked closely with Underwriters to assure all documents were completely and correctly filled out.
Worked to intercede between clients and banks for home loan modifications.
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