Loss Mitigation Specialist

Position Summary:

This position is responsible for supporting the Loss Mitigation Department functions at Marine Credit Union. This includes performing tasks to support collections related activity, generating or analyzing reports, performing administrative functions and ensuring compliance with procedures, policies, and regulations.

Duties and Responsibilities:

• Establish positive, productive, professional relationships with department teammates.
• Support collection activities with knowledge and process in assigned areas of specialty, including Bankruptcy, Foreclosure, Replevin Judgments and Repossession, Money Judgments and Garnishment, Preparation, listing & sale of Other Real Estate Owned (OREO), Loan Modification and TDR.
• Perform tasks related to the above areas as assigned.
• Send collection letters as requested, ensuring compliance and accuracy of all communication.
• Generate, analyze, and organize reports as requested on foreclosures, OREO properties, repossessions, loan charge off activity and others as required.
• Reconcile and balance monthly foreclosure and OREO GL transactions
• Monitor reports to ensure loan collection techniques and risk mitigation efforts are effective and meeting standard.
• Review and process loan charge off requests as assigned.
• Perform skip trace searches as needed.
• Process requests for various Loss Mitigation functions
• Review loan modification and mortgage foreclosure requests, gather additional documentation as requested, provide recommendations.
• Ensure data quality by updating system information in a timely and accurate manner.
• Engage in other tasks and projects as requested

Expectations:

• Complete assigned tasks and projects with the highest level of accuracy.
• Increase departmental performance by being a resource for the Loss Mitigation Department
• Provide exceptional service to MCU branch and departmental employees.
• Abide by all applicable Marine Credit Union policies, procedures, and regulations
• Work proactively to build relationships necessary to meet set goals for the position.

Knowledge, Skills, and Abilities:

• High level of experience and knowledge in multiple areas of collections and Loss Mitigation such as Bankruptcy, Foreclosure, Repossession, and Modifications.
• Knowledge of collection processes and familiarity with regulations impacting collection practices
• Knowledge of effective collections practices and loan delinquency management
• High attention to detail
• Above average verbal and written communication skills
• Strong planning, organization, and implementation skills
• Strong problem-solving skills
• Knowledge of lending and underwriting to align with Marine Credit Union lending and collections practices
• Above average computer skills, including MS-Office and loan origination software.

Education and Experience:

• High School Diploma or equivalent required. College Degree in Business Administration, Marketing, Sales or Finance desired.
• Previous Consumer and/or Real Estate Lending experience preferred.
• Collections and delinquency management experience, including judgment and garnishment.
• Experience working in a process-oriented environment with importance placed on attention to detail.
• A record of success in meeting set, external goals.

Physical Requirements (with or without accommodation):

• Long periods of sitting, talking, and listening are required.
• Use of a motor vehicle.
• Lifting 15 pounds
• Use of a compute and a telephone are also required.

This job description is not a complete statement of all duties and responsibilities comprising this position.