Loss Mitigation Specialist - Credit Unions

Loss Mitigation Specialist – Credit Union

Job Description

Non-Exempt

Reporting Relationship

President & CEO

Director of Mortgage Servicing & Loss Mitigation

Loss Mitigation Specialist

Primary Purpose of Position

Contacts borrowers to remedy delinquency or non-payments. Determines appropriate collection alternatives to settle shortfolls. Adheres to pre-established guidelines when determining appropriate collection remedy.

Duties and Responsibilities

· Contact delinquent borrowers to achieve Quality Right Party contact and viable workout solutions.

· Monitor liens placed against the mortgaged premises, send notification to borrowers and investor of loan.

· Adhere to Secondary Market collection timelines when collecting on agency loans.

· Obtain Property Inspections on delinquent loans greater than or equal to 45 days

· Ensure timely processing of Proof of Claim on borrowers who file bankruptcy.

· Review Bankruptcy filing documentation, submit to attorney when necessary.

· Complete Notice of Delinquency to applicable mortgage insurance companies.

· Distribute Right to Cures and other required notices to delinquent borrowers.

· Update Task tracking statuses of Bankruptcy, Property Inspections, Right to Cures, Tax/Sewer lines and Notice of PMI delinquencies.

· Update servicing system to add Second lien notifications.

· Submit foreclosure packages to attorneys for processing.

· Obtain monthly updates from attorneys on loans in Foreclosure.

· Update E-Oscar credit bureau reporting to resolve consumer disputes.

· Respond to customers inquiries either written or verbal as outlined in the Error Resolution and Responding to Inquiries Policy and CUSO Service Standards.

· Act as an Online Account Specialist to assist borrowers with the CUSO Servicing web product.

· Develop a positive relationship with all credit union personnel, investors and borrowers.

· Other duties as assigned

Knowledge and Skill

· Experienced Real Estate Collector.

· Proficient in utilizing Microsoft Office software.

· Excellent data entry, interpersonal, writing, and oral communication skills.

· Ability to handle fast paced working environment.

· Positive attitude and willingness to help others.

· Ability to work as a team member and as an individual.

· Strong time management and organizational skills.

Physical Requirements

· Use of standard office equipment (telephone, copier, fax, personal computer and so on) is required on a daily basis.

· Work requires the use of a video display terminal (VDT) and application of manual dexterity and eye-hand coordination (basic keyboarding).

· Reading documents for general understanding (correspondence & memos) is often required, as well as reading documents for analytical purposes (appraisals and technical reports).

All requirements are subject to possible modification to reasonably accommodate individuals with disabilities. Some requirements may exclude individuals who pose a direct threat or significant risk to the health and safety of themselves or other employees.

This job description in no way states or implies that these are the only duties to be performed by the employee occupying this position. Employees will be required to follow any other job-related instructions and to perform other job-related duties requested by their supervisor.

Requirements are representative of minimum levels of knowledge, skills and/or abilities. To perform this job successfully, the incumbent will possess the abilities or aptitudes to perform each duty proficiently.

This document does not create an employment contract, implied or otherwise, other than an “at-will” employment relationship.

Pay: $21.36 - $32.04 per hour

Expected hours: 40.0 per week

Benefits:

• 401(k)
• 401(k) matching
• Dental insurance
• Disability insurance
• Health insurance
• Health savings account
• Life insurance
• Paid time off
• Vision insurance

Work Location: In person

Salary : $21 - $32