Specialist Loss Mitigation

Position
Specialist Loss Mitigation & Recovery

Job Code-8571

req5609

Peachtree City (Wisdom Rd.)

Full Time

Job Description
Create your success story at Delta Community Credit Union – where opportunity meets purpose. Through our commitment to excellence, Delta Community has received numerous industry awards and earned the trust and loyalty of our employees, members and the metro Atlanta community. We value talent, encourage growth and keep community at the heart of everything we do. That's why we're one of Atlanta's Best Places to Work Whether you're starting your professional journey or navigating the next step in your career, we invite you to join the Delta Community Credit Union team.

The Loss Mitigation & Recovery Specialist – Mortgage Servicing will monitor first and second mortgage loans to ensure prompt payments and collection of delinquent mortgage payments which includes but is not limited to contacting members/attorneys via phone, mail or email, mailing late notices and breach letters. The Loss Mitigation & Recovery Specialist will review requests for mortgage payment assistance to determine eligibility based on investor guidelines and recommend payment assistance plan, forbearance, modification, short sale or foreclosure.

The Loss Mitigation & Recovery Specialist will prepare modification agreements in accordance with investor and MI guidelines, negotiate deficiency notes, and ensure all accounts are updated and posted appropriately. They are responsible for filing MI claims and providing accurate timely reporting to MI companies and Investors as required. This position may also order property inspections and services needed to secure delinquent/abandoned properties to prevent vandalism and/or weather damage. They will Initiate the foreclosure process and provide the foreclosure specialist with information and documentation needed to complete the foreclosure process. They will coach and train the Loss Mitigation staff. They will help develop and implement new processes and procedures as needed to ensure compliance with government regulations and Investor guidelines.

Practices safety-conscious behaviors in all operational processes and procedures.

Essential Functions

• Responsible for placing collection calls to members regarding past due payments. Update loan records with member profile information. Document attempts to contact and member conversations.
• Responsible for sending appropriate correspondence to members based on delinquency and other loan characteristics. Answer member inquiries related to past due payments and payment changes related to escrow, escrow analysis, and adjustable rates.
• Responsible for advising members on retention or non-retention loss mitigation options available based on loan type, state, and investor parameters. Establish payment plan options to maximize borrower success in retaining their home. Report loan status and/or process claims accurately and timely to investors, agencies, and/or PMI companies.
• Monitors 1st and 2nd mortgages of members in collection to ensure prompt payments are properly posted to the members' account.
• Answers members' questions through phone calls and correspondence regarding problems with their account and seeks resolution.
• Monitors members in bankruptcy status.
• Obtains documents needed for loss mitigation assistance
• Completes daily, weekly and monthly reporting
• Responsible for calculating income and reviewing member financial information and making recommendations in accordance with loss mitigation option hierarchy or foreclosure. Negotiate, calculate, draft, and monitor repayment, forbearance, or loan modifications for receipt of payments in accordance with the agreement.
• Responsible for obtaining inspections, BPOs, and/or appraisals. Review results for recommendations regarding risk rating, charge offs, property repairs, and securitization. Perform maintenance pertaining to charge-offs, non-accruals, and risk ratings.
• Responsible for complying with policies, procedures, security requirements, and government regulations.

Other

• This description reflects management's assignment of essential functions; it does not prescribe or restrict the tasks that may be assigned.
• This job description is subject to change at any time.

Position may offer work from home opportunities, pending specific performance and departmental needs.
Job Qualifications
Must be legally authorized to work in the United States without the need for employer sponsorship, now or at any time in the future.

Required Minimum Qualifications

• High School diploma or equivalent
• 2+ years of credit union, banking or financial services experience
• Must be able to work independently and in a team environment
• Strong computer skills and have intermediate skills in MS Word and Excel
• Must possess excellent customer service skills and be able to communicate effectively with internal and external members in a professional and courteous manner
• Must possess good analytical and organizational skills, be detail oriented and able to multi-task
• Knowledge of completing deferrals, modifications and forbearance
• Complies with all Credit Union policies and procedures, including those related to Bank Secrecy Act regulations.

Preferred Qualifications

• Bachelor's degree in a business related field or equivalent professional experience
• 1+ years' work experience in mortgage servicing, collections and/or loss mitigations
• 1+ years' development and coaching experience in collections/loss mitigations
• Strong working knowledge of mortgage lending laws and Fannie Mae guidelines for delinquency management

Employee Benefits Include

• Medical, Dental and Vision Coverage
• Basic Life and Accidental Death & Dismemberment Insurance, Long Term Disability, Employee Assistance Program and MyAdvocate
• Supplemental Insurance or Voluntary Insurance
• 401(k) Plan with Company Match
• Vacation, Holidays and Personal Time Off
• Paid Maternity and Paternity Leave
• Pre-tax Health and Dependent Care Spending Accounts
• Benefit Choice Program
• Health Reward Dollars
• Discount on Gym Reimbursement and Identity Theft Programs
• Legal Services