Loss Mitigation Resolution Specialist

4 weeks ago


NC United States First Citizens Bank Full time
Job Summary

This role serves as a key point of contact for borrowers experiencing financial difficulties. The Loss Mitigation Resolution Specialist provides critical support and guidance to borrowers, helping them navigate possible Loss Mitigation options and subsequent actions. The specialist facilitates the receipt of complete hardship applications, maintains regular contact with borrowers, and ensures all servicing efforts comply with applicable regulations and investor guidelines.

Key Responsibilities
  • Loan Resolution: The specialist contacts borrowers in financial distress, gathers information, and required documentation for a complete Loss Mitigation Application. They maintain regular contact with borrowers, sending applicable written notices or disclosures, and monitor approved plans until the borrower completes short-term repayment plans or makes required payments.
  • Client Support: The specialist identifies and supports clients eligible for assistance, contacts clients in foreclosure, dismissed or discharged from bankruptcy, or inquiring about possible assistance to begin the process.
  • Operational Support: The specialist acts as a liaison between business units, Retail Credit Underwriting teams, and branches regarding distressed borrowers.
  • Portfolio Servicing: The specialist participates in servicing efforts for acquired institutions, works with acquired institutions to service defaulted or covered assets, and assists with mortgage loans, modifying or recommending charge-offs as appropriate.
Qualifications

The ideal candidate will possess a Bachelor's Degree and 1 year of experience in Collections, Loss Mitigation, Bankruptcy, Foreclosure, or Default, or a High School Diploma or GED and 5 years of experience in the same fields. First Citizens benefits programs are designed to meet our associates' needs, with customized offerings, including those designed to support families, however defined. More information regarding our benefits offerings can be found here: https://jobs.firstcitizens.com/benefits.



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