What does a Loss Mitigation Counselor do?
The duties of a loss mitigation counselor include assessing a case to determine the appropriate loss mitigation tool to help the homeowner resolve their mortgage delinquency. He/She develops the case by acquiring specific case support outlined by the ALMC underwriting office headquartered in Newport News, Virginia. After the ALMC underwriting office has received all the case support from the loss mitigation counselor, the case is evaluated to determine on which loss mitigation tool is best for the homeowner. The ALMC underwriter will create a written report called an “argument based on the findings”. Finally, the ALMC underwriting office submits the formal report to the lender and/or federal agencies, investors, etc…
