Asset Disposition Specialist - Credit Resolution

WesBanco Bank, Inc.•Ellwood City, PA

About The Position

Manages the day-to-day collections of a portfolio of credit lines and consumer and personal loans both secured and unsecured. Maintains a comprehensive knowledge of applicable state and federal regulations relating to collections and ensure that the Bank's policies and procedures are compliant with the same. Prepares files as an account progresses in delinquency and make recommendations to management as to the required action needed to secure possession of our collateral and/or payment of the past due amount.

Requirements

Banking is a highly regulated industry and you will be expected to acquire and maintain a proficiency in the bank’s policies and procedures, and adhere to all laws, rules and regulations that are applicable to your conduct and the work you will be performing. You will also be expected to complete all assigned compliance training in a timely manner.
Ability to work in a fast-paced work environment.
Professional appearance and demeanor.
Excellent interpersonal and written communication skills.
Ability to research problem situations and recommend appropriate action.
Maintains positive relations with all customers both internal and external while discussing legal matters in a professional, yet tactful manner.
Must be able to work in team environment with interaction amongst other members.
Effective organizational skills with attention to detail and promptness.
Experience using Microsoft Products including Word, Excel, and Outlook.
High school diploma or general education degree (GED), required.
Minimum of three (3) years of collection experience preferred.
Comprehensive knowledge of applicable state and federal regulations relating to the collection of residential real estate loans including the January 2014 CFPB guidelines required.

Nice To Haves

Prior experience with collection systems is a plus.

Responsibilities

Initiates outbound and receives inbound phone calls relating to active repossession/foreclosure assignments.
Monitors foreclosure action with outside counsel on loans in foreclosure including third party foreclosures, foreclosures that file bankruptcy and Deeds in lieu of foreclosures.
Reviews document packages prepared by support personnel for completeness prior to forwarding to counsel for foreclosure.
Maintains a detailed log on all accounts as you work through the foreclosure process.
Orders appraisal when appropriate.
Assists borrowers in understanding options to avoid foreclosure including short sale, deed in lieu foreclosure and modifications.
Adheres to stated timelines throughout the foreclosure and loss mitigation process.
Calculates and submit foreclosure sale bidding instruction recommendations for proper approval.
Prepares letters and correspondence to customers while maintaining compliance with all CFPB requirements.
Submits completed Loss Mitigation Packages for approval.
Prepares necessary documentation to assign defaulted loans to vendors for repossession of the collateral.
Maintains current information in the repossession tab in the collection system for all repossessions in process.
Acts as point of contact for auctions and agents who handle the Bank’s repossessed assets.
Requests and maintain ongoing feedback on repossession assignments.
Establishes floor bids for auctions.
Assists agents in obtaining additional information that is needed to locate collateral and inform agents/auctions to halt further action if an account has been paid current, assigned to counsel, or redeemed by the borrower.
Monitors auctions and agents for best repossession practices, including but not limited to:
Verifies feedback is clear and concise and submitted in a timely manner
Confirms collateral assigned for repossession is located and secured within 30 days
Verifies condition reports from vendors are consistent and include clear photographs and explanations
Actions taken by vendors are consistent with the Bank’s vendor agreements.
Reviews weekly auction bids and communicate to auction personnel to accept, reject, or negotiate bids based on parameters set by the Credit Resolution Unit.
Reviews and approves vendor invoices for payment noting the appropriate accounts.
Prepares sale and deficiency letters.
Completes all necessary documentation/reports when collateral has been sold.
Processes net proceeds checks following the sale of collateral.
Completes releases for redemptions as appropriate.
Makes payment arrangements with borrowers seeking to cancel or redeem active repossessions/foreclosures. Arrangements must be consistent with procedures set by the Credit Resolution Unit.
Processes GL and Payment Tickets as applicable when payment is received.
Researches and resolves billing and/or payment disputes on assigned accounts.
Assigns defaulted residential real estate loans to the appropriate attorney for foreclosure and oversee the foreclosure process to its conclusion.
Periodic travel required to attend auctions.
Periodic meetings required with Bank’s vendors (as assigned by Asset Disposition Manager).