Collector/ Loan Workout Coordinator

Coastal Heritage Bank•Weymouth, MA

13d•Onsite

About The Position

Coastal Heritage Bank is seeking an experienced Collector/ Loan Workout Coordinator to join our retail team at our Weymouth location. This role participates in maintaining a financially sound loan portfolio through early delinquency intervention and overseeing more complex delinquency and collections efforts. Methods to accomplish this include, but are not limited to, phone calls, collection letters, and in-person interviews. This role also recommends further action on accounts as deemed necessary, including but not limited to referral to collection agency, repossession, pursuing legal action, initialing and overseeing foreclosure efforts and/or referring to loan workout specialists. At Coastal Heritage Bank, we are more than just a bank; we are a community that cares for our customers like neighbors, because they are. With over 140 years of serving our community, we take pride in offering a positive work culture, a highly competitive compensation and benefits package, and opportunities for career growth.

Requirements

Two to Five years of similar or related experience, including time spent in preparatory positions.
Knowledge of Real Estate Law and experience with the Foreclosure Process needed.
Experience with Microsoft 365, Word and Excel a must.
High School diploma or equivalent.

Nice To Haves

Knowledge of FNMA/FHLMC delinquency guidelines helpful.

Responsibilities

Responsible for collection of delinquent accounts, including but not limited to: soliciting payment arrangements on delinquent loans, interviewing customers to determine reason for delinquency, taking appropriate action to resolve the account. This could include counseling customers concerning their financial obligations and offering suggestions and alternatives.
Responds to customer inquiries by phone and in person.
Recommends and prepares forbearance and/or modification documentation for loans (including Investor correspondence and approvals as necessary).
Recommends further action as deemed necessary (i.e. repossession, legal action, foreclosure, referral to collection agency, skip tracing)
Recommends and assists in preparing delinquent accounts for charge-off requests or prepares accounts for collateral seizure and foreclosure.
Files the appropriate documentation for bankruptcy accounts.
Oversee all bankruptcy claims through dismissal, discharge or reaffirmation.
Prepares the required documentation for assignment to collection agencies, attorneys or 3rd party workout specialist.
Coordinates and reports on delinquent non-escrowed taxes.
Works in concert with AVP Loan Servicing to assist credit disputes via e-Oscar.
Prepares the required documentation for assignment to collection agencies, attorneys or 3rd party workout specialist.
Prepares assigned reports as needed, including Investor reporting and month end reporting.
Ensure customer files are maintained in good order, and all required documents are filed
Attends NEAMA meetings to maintain knowledge base.