Default Analyst - Mortgage Assistance Underwriting

About the Company

Valon is building the AI-native operating system for regulated finance, starting with mortgage servicing.

We're a Series C company backed by a16z, transforming industries that others have written off as too complex to innovate.

Rather than build on top of broken legacy systems, we took a different approach: we built and operate our own mortgage servicing business managing $110+ billion in loans. This wasn't the end goal, it was how we deeply understood the complexity needed to build software that actually works in regulated industries.

The results speak for themselves. We've transformed mortgage servicing from a 0% margin business into 60%+ margins while dramatically improving customer experience. Major enterprise contracts are now deploying across the industry.

ValonOS is our unified platform that makes every process structured and programmable and it is perfectly positioned for the AI era. When everything flows through one system with rich data, AI agents don't just automate tasks, they continuously improve entire operations. Mortgage servicing is just the beginning of our vision to transform regulated industries and beyond.

Mortgage Assistance at Valon 

The Mortgage Assistance team is a group of organized and altruistic individuals who provide exceptional customer service to our homeowners who are currently facing financial hardship that directly impacts their ability to make monthly mortgage payments.  This team will take ownership and provide support to homeowners by educating them on various Mortgage Assistance programs that are available and will guide them through the entire process in an attempt to prevent foreclosure.  Equipped with extensive knowledge of the mortgage industry, each member prides themself on driving Valon's mission of championing homeownership.

About the Role 

The Mortgage Assistance Underwriter will work to provide solutions for existing homeowners of Valon Mortgage that are experiencing hardships. This individual will report to the Underwriting Supervisor/Manager and be responsible for providing best-in-class customer service to both homeowners as well as internal customers to support Valon’s strategic goals. The primary objective of this role will be to determine the best workout option for homeowners with mortgages within Valon’s servicing portfolio, strengthening both homeowner and investor relationships.

Responsibilities

• The Underwriter plays an integral part in reviewing and implementing loss mitigation workout options within the Mortgage Assistance business unit.
• Under the general supervision of the Underwriting Supervisor/Manager, the Underwriter will be responsible for reviewing mortgage assistance applications and managing a caseload of files including all steps necessary from application to modification.
• This position will have a basic understanding of mortgage servicing and provide support to the Underwriting team.
• Review customer documentation in accordance with Regulation X (30 calendar days) to determine if the homeowner qualifies for a loss mitigation option; report information to the investor, client, and insurer.
• Order and review BPO/AVM/appraisal as applicable.
• Calculate income, expenses, and escrow advances in accordance with departmental and investor/insurer/client guidelines.
• Accurately and timely update template steps and system notes to reflect the current status of the file.
• Order and review title searches as applicable.
• Review and implement according to an investor, client, and insurer guidelines for loan modifications, forbearances, and repayment terms, short sales, and deeds in lieu.
• For short sales, review marketing strategies, listing history, and offer activity.
• Handle counter offers in accordance with departmental procedures and investor/insurer/client guidelines.
• Request and follow up on foreclosure holds as necessary.
• Submit loss mitigation requests to investor/client/MI for approval as required.
• Decline files as directed in accordance with departmental procedures as set forth by investor/client/investor/insurer guidelines and send an appropriate denial letter if the homeowner does not qualify for a workout option.
• Prepare and send trial period documents, forbearance plan documents, repayment plan agreements, short sale approval, closing letters, and decline letters as needed.
• Contact homeowners and real estate agents to provide the status of files
• Handle all written and verbal correspondence professionally between the homeowners, client, investor, insurer, subordinate lien holders, real estate agents, consumer credit counseling services, and foreclosure attorneys.
• Complete 2nd Look/QA process to ensure compliance with investor/insurer/client guidelines.
• Work in conjunction with vendors to oversee the generation and compliance of modification, short sale, and deed in lieu of foreclosure documentation 
• Additional duties may be assigned.

Minimum Qualifications

• High School Diploma or equivalent required
• Knowledge of FHA, VA, USDA  Fannie Mae/DU and Freddie Mac / LPA guidelines and automated underwriting systems"
• Ability to critically examine credit, income, assets, title, and appraisals for adherence to company, investor, and GSE underwriting guidelines.
• 2 years of Collections, Loss Mitigation, or other mortgage banking, mortgage servicing, or real estate-related experience.
• 2 years of mortgage loan origination/modification experience
• 2 years of telephone customer contact experience.
• Knowledge of Fair Debt Collection Protection Act.
• Ability to work independently in a fast-paced environment as well as part of a team and focus on results.
• Ability to learn rules, regulations, and laws in order to meet state, investor, client, and insurer guidelines.
• Ability to structure a workout that serves the best interests of the homeowner/investor/insurer/client.
• The ability to apply general rules to specific problems to produce answers that make sense. As well as the ability to combine pieces of information to form general rules or conclusions.

Ideal Background

• 5+ years of mortgage/modification underwriting experience
• 2+ years of Manual Underwriting experience
• 3-5 years of processing and/or closing experience
• Understanding of mortgage industry federal regulations including RESPA, TILA, ECOA, TRID, CFPB, etc
• Strong communicator with excellent writing skills
• High integrity with strong ethical values
• Team player with the ability to work effectively with a variety of team members

What we can offer: 

• Compensation: competitive salary and 401k plan
• Health & well-being: we’ll invest in your physical and mental well-being with comprehensive medical, dental, & vision benefits
• Food & meals: in-office snacks and drinks, and Bagel Fridays
• Commuter benefits: We offer pre-tax deductions for public transportation, rideshare services, and parking expenses to make your commute more affordable and convenient.
• Grow together: Company wide orientation for you to successfully onboard and other learning & development opportunities including regular review cycles that feature 360 degree feedback
• Generous time off: 17 days paid time off, sick days, and 11 company holidays 
• Baby bonding time!: 12 weeks off for both birthing and non-birthing parents - fully paid so you can focus your energy on your newest addition