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PHH Corporation

Loss Mitigation Manager

PHH Corporation - Mount Laurel, VA

Requisition Number 18-0028

Date Posted 2/22/2018

Title Loss Mitigation Manager

City Mount Laurel

State NJ

Description Position Summary

Manage a team of loss mitigation mortgage loan processors and support teams to meet all investor production goals and compliance requirements.

Essential Functions

To perform this job successfully, an individual must be able to perform each essential duty satisfactorily.

- Manage the daily performance, quality adherence and workout production of the Loss Mitigation Underwriting and New Application Setup Team (Staging)

- Oversee the loss mitigation application intake, acknowledgement and assignment process

- Manage workout decision timelines in accordance with state, federal and agency requirements

- Maintain department procedures, job aids and training material. Manage the implementation of new investor/insurer workout programs

- Develop and manage to Key Performance Indicators to evaluate Loss Mitigation staff and overall team performance

- Support employee career development by providing effective coaching, training and motivation

- Collaborate with other default managers to eliminate cross-functional processing defects by developing preventative controls

- Responsible for the development and execution of remediation action plans associated with audits, agency examinations and/or client reviews

- Perform vendor SLA monitoring of third-party service providers

- Develop and manage client specific workout programs

- Plan the operation and workflow for the Loss Mitigation function to ensure monthly and quarterly objectives are achieved

- Ensure loss mitigation strategies are being offered in accordance with Investor and Insurer guidelines including Repayment Plans, Forbearances, Modifications

- Execute on personnel hiring, training, ongoing coaching and feedback, performance ratings, salary changes, promotions, transfers, and terminations. Establish priorities and resolve personnel problems.

- Support employee career development by providing employees with opportunities to develop their knowledge, skill and abilities and conducting candid career conversations.

- Develop and administer specific productivity and quality goals for each assigned loss mitigation function

- Ensure Regulatory (Reg X, ECOA etc) and Investor/Insurer/Policy requirements and timelines are understood and met.

- Ensure applicable PHH Loss Mitigation Policy guidelines are understood and followed. Provide coaching and feedback to policy questions and issues.

- Partner with the QA to timely resolve Income Calculation discrepancies and policy issues as applicable.

- Complete regulatory and risk monitoring and exception reporting reviews including root cause analysis.

- Work with your team to identify process improvement opportunities and work with the appropriate levels of management to explore and implement.

- Lead and/or participate in process improvement initiatives including validation testing.

- Serve as Policy and Procedure owner for your applicable area of the Loss Mitigation process including tracking and requesting updates as needed.

- Partner with OOP team and other areas as applicable, to handle borrower inquires and complaints in a timely and accurate manner.

- Other projects and duties as assigned.

Requirements Education Experience

To perform this job successfully, an individual must have the following education and/or experience:

- High school diploma or equivalent is required. Bachelors degree preferred.

- Minimum of five (5) years of experience in the mortgage industry required

- Minimum of three (3) years of experience in a leadership capacity required

- Experience in mortgage loan loss mitigation or default preferred

- Experience with Government Sponsored Enterprises (GSE), Federal Housing Authority (FHA) and/or Veterans Administration (VA) loans preferred

- Experience with mortgage loan underwriting preferred

Knowledge, Skills, and Abilities

- Strong verbal and written communication skills

- Analytical, with an ability to identify and resolve problems

- Well organized, paying close attention to detail

- Ability to manage multiple priorities in a timely manner

- Ability to meet the needs of internal and external customers by delivering high quality service

- Rapidly adapts to changing information, conditions and/or unexpected obstacles

- Strong interpersonal skills

- Operates effectively in a team environment as well as independently

- Ability to:

o evaluate oneself realistically

o perform effectively during stressful situations

o perform in ambiguous situations

o react objectively rather than subjectively to achieve company goals

o jump in, figure things out and add value


- Must pass PHH Corporations Background Screening process prior to beginning employment. Additionally, as a condition of employment, you may be required to pass client-specific background check requirements or Federal/State licensing requirements, if applicable.

Core Competencies

- Behaves as a Leadership Role Model

- Builds Strong Working Relationships

- Drives and Delivers Exceptional Results

- Customer/External Focus

- Builds and Motivates a High Performing Team


- Proficient with Microsoft Office products (e.g. Word, Excel, Outlook, Powerpoint, etc.)

- Proficiency with Mortgage Servicing Platforms (e.g. Black Knight, LPS, etc.) preferred


The preceding job description has been designed to indicate the general nature and level of work performed by employees within this classification. It is not designed to contain or be interpreted as a comprehensive inventory of all duties, responsibilities, and qualifications required of employees to this job.

The requirements and the physical demands described here are representative of those that must be met by an employee to successfully perform the essential functions of this job. Reasonable accommodations may be made to enable individuals with disabilities to perform the essential functions.

PHH is an Equal Opportunity/Affirmative Action employer. All qualified applicants will receive consideration for employment without regard to race, color, religion, sex, national origin, disability, or protected veteran status.

Equal Opportunity Employer/Protected Veterans/Individuals with Disabilities.

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22 days 5 hours ago

PHH Corporation


Loss Mitigation Manager PHH Corporation - Mount Laurel, VA, United States


Location: Mount Laurel, VA

Company Profile:
PHH Corporation (NYSE: PHH) was founded in 1946 by Duane Peterson, Harley Howell and Richard Heather. For over 60 years, PHH Corporation has helped our clients improve their business through outsourcing. We deliver world-class outsourcing solutions to our clients through our subsidiaries, PHH Mortgage and PHH Arval