D. Peter Bai
Costa Mesa,CA
Summary
Results-oriented Senior Loss Mitigator with deep understanding of loss mitigation principles and customer service practices. Well-versed in resolving distressed, non-performing mortgage loans. Self-motivated with a strong desire to succeed and meet goals.
Overview
29
29
years of professional experience
Work History
Home Solutions Senior Associate
Mr. Cooper/Rushmore Loan Management Services
01.2013 - Current
- Collaborates with legal, underwriting, title, foreclosure specialists, and mediators to achieve optimal resolutions for borrowers and investors.
- Recommends strategies and tactics for foreclosure and bankruptcy departments within NPL to ensure expeditious completion of foreclosure actions, which include repayment plans, modification options, short sales, and deeds in lieu.
- Manages 500-700 distressed residential assets from various investors, including Goldman Sachs, JP Morgan, Ellington, Wells Fargo, and Bank of America.
- Handles incoming and outgoing calls to and from borrowers, realtors, attorneys, insurance agents, and other third-party entities on defaulted loans via automated calling systems.
Loss Mitigation Negotiator
Carrington Mortgage Services
06.2012 - 12.2012
- Serviced the high-risk Stanwich portfolio.
- Managed assigned assets and provided the best resolution options.
- Negotiated short payoffs and DIL settlements.
- Ensured compliance with HAMP and in-house modification requirements.
- Directed incoming and outgoing communications with borrowers, realtors, attorneys, insurance agents, and other third-party entities.
Asset Manager
Kondaur Capital Corporation
01.2007 - 06.2012
- Assessed title reports and estimated timelines for either liquidation (through deed in lieu or short sale) or rehabilitation (via modification or repayment) before acquiring loans through the bidding process,
- Collaborated with real estate agents and appraisers to organize short sales, assessing listing prices, tracking property market time, and tweaking prices for a quick sales turnaround.
- Negotiated with the IRS and HOAs and resolved mechanic's liens to obtain letters of satisfaction to clear title.
Subprime Mortgage Loan Officer
Various Employers
01.1995 - 12.2007
- Increased loan approval rates by efficiently managing pipeline and maintaining strong relationships with borrowers, realtors, and underwriters.
- Streamlined the loan application process for improved customer satisfaction and a higher volume of closed loans.
- Assessed borrowers' financial situations to determine appropriate mortgage products and loan structure.
Education
Finance & Accounting
Pennsylvania State University
State College, PASkills
- Demonstrates excellent analytical and technical skills; able to quickly learn new business concepts
- Exhibits excellent oral and written communication skills
- Possesses ability to multitask and prioritize
- Communicates effectively through verbal and written means
- Demonstrates ability to develop business relationships and networking
- Represents mortgage companies in live mediations
Technical expertise:
- Microsoft Office products
- LexisNexis
- Accruent
- LPS
- Pacer
- Realm
- MSP
- IAssist
- Remedy
Timeline
Home Solutions Senior Associate
Mr. Cooper/Rushmore Loan Management Services
01.2013 - Current
Loss Mitigation Negotiator
Carrington Mortgage Services
06.2012 - 12.2012
Asset Manager
Kondaur Capital Corporation
01.2007 - 06.2012
Subprime Mortgage Loan Officer
Various Employers
01.1995 - 12.2007
Finance & Accounting
Pennsylvania State University
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