Loss Mitigation Specialist

Administrative

Please APPLY AT:

https://jobs.silkroad.com/PurdueFCU/PurdueExternalPortalpurduefedcareerssilkroadcom

The Loss Mitigation Specialist is responsible for Responsible for the control of delinquent loan accounts and pending late payment reminders. Makes follow-up telephone calls on delinquent loan accounts and maintains accurate records on delinquent loan accounts.

*Employees are expected to adhere to all rules and regulations applicable to this position, including but not limited to all policies and procedures pertaining to the Bank Secrecy Act.

Duties and Responsibilities (Essential Functions):

• Member Interaction
  • Call members on delinquent consumer and mortgage loans from 45 days to 119 days past due and respond to incoming calls
  • Ensure the 45 Day Loss Mitigation Options Letter (Mortgages Only) was sent out at 35 days delinquent
  • Meet with members in the branch for one-on-one consultation and payment arrangements
  • Prevent troubled consumer and mortgage loans from migrating into repossession and foreclosure by working with members through the use of Loss Mitigation techniques and programs
• Account Delinquencies
  • File all notices of delinquency and claims for PMI as necessary
  • Report all Fannie Mae delinquency as needed
• Update watch lists
• Document Coordination
  • Handle foreclosure coordination and documentation with Attorney.
  • Coordination of short sales and deed in lieu.
• Data Entry/Management
  • Collect data for FLEX Modification program and input all information into the appropriate systems for reporting.
  • Work with financial counselor to collect data and determine eligibility as well as all trial period agreements and modifications
• Blocked Accounts
  • Block Visa cards when needed
  • This includes removing credit limits for Members that are 60 days delinquent as well as blocking ATM and debit cards as needed
• Collateral
  • Recommend action for repossession of collateral securing delinquent Loans
  • Is responsible for the upkeep of such collateral while in the Credit union's possession, and assist with the disposition of such Collateral in the best interest of the credit union
• Charge Offs
  • Handle all bankruptcy and charge off files
  • Preparing accounts for the attorney
  • Must interact with credit union attorneys, auto repossession individuals, collection agencies, and bankruptcy courts
• Skip tracing
  • Gathering of information from the most recent application information, calling references, pulling new credit bureau reports as well as calling present and previous employers and other creditors
• Cross training of different collection activities

Knowledge, Skill, and Ability Requirements:

• Education
  • High School Diploma or GED Equivalent with some college coursework
• Experience
  • Minimum 1 to 3 years of similar experience
• Knowledge
  • Competent computer skills with intermediate knowledge of Microsoft Excel, Word, and Outlook
  • Ability to communicate, verbally and in writing, in a professional manner when dealing with employees, members, vendors and company contacts
  • Ability to follow the core values of honesty, integrity, mutual respect, pride and ownership

Purdue Federal Credit Union is an Equal Opportunity Employer/Veterans/Disabled