Credit Collection Specialist

Washington Trust Bank Careers•Spokane, WA

8d•$21 - $31•Hybrid

About The Position

This position is responsible for the collecting of past due investor, portfolio, small business and consumer real estate loans. The Credit Collection Specialist assists in the collection of past due installment loans, Home Equity lines of credit, credit cards, Home Mortgages and charged off checking accounts. The role may also assist with collection efforts Small Business Banking loans and Visa business credit cards. Complies with investor servicing requirements and status reporting to investors. Implements loss mitigation activities when appropriate. Accurately documents conversations and reasoning behind actions taken. Assists in the collection of accounts that have been charged off. Location: 717 W Sprague Ave, Spokane, WA 99201 Schedule: Monday thru Friday, Dayshift hours. E ligible for a hybrid schedule after initial training.

Requirements

Ability to understand bankruptcy law, real estate law, and civil law.
Ability to communicate effectively with attorneys as a knowledgeable creditor, serves as an informed advocate for the bank when dealing with attorneys for the bank and for the customer.
Ability to understand basic legal terms and concepts.
Ability to analyze appraisals.
Be able to understand bank loan documents and legal terminology contained therein so that the rights of the bank are protected in legal matters.
Knowledge of RCW laws and regulations as well as Federal Disclosure Requirements and the compliance requirements under the Fair Debt Collection Act.
Ability to communicate effectively with customers both orally and written.
Ability to analyze property appraisals and BPO’s for accuracy with a clear understanding of appraisal terminology.
Ability to work as a team player and work closely with collection staff.
Regular, reliable attendance is required.

Responsibilities

Contacts delinquent customers by phone and mail
Recommends legal action where appropriate
Meets deadlines with respect to investor requirements on delinquent RE loans
Works in the recovery of bad debt and charged off loans
Recommends loss mitigation procedures to prevent foreclosure, as appropriate.
Recommends loans for charge down or charge off.
Identifies problem loans for intervention.
Begins loss mitigation procedures to prevent foreclosure
Submits request to investors for approval of Modifications, Deed in Lieu, & Short Sales in accordance with investor requirements and within established timelines.
Has strong knowledge of bank loan documents and definitions and a clear understanding of default and the remedies available to cure.
Adheres to required timelines for various notifications of default and trustee sale including breach letters, correct documents to attorney, close follow up with attorney for subsequent notices and trustee sale notification.
Analyses and prepares process checklist including appraised value, past due taxes, other liens, and expenses to determine value and creditor’s bid at Trustee’s Sale.
Assists in preparing monthly reporting to investors and mortgage insurers of the status of past due loans.
Recommends loss mitigation efforts and/or re-structuring options
Assists in preparing monthly reports as to charge-off status and recoveries