Loan Workout Officer

NASA Federal Credit Union•Upper Marlboro, MD

9h•Hybrid

About The Position

NASA Federal Credit Union is seeking a Loan Workout Officer to help members navigate financial hardship with practical, policy-aligned solutions. In this role, you will evaluate consumer loan assistance requests, analyze members’ financial circumstances, recommend modification and repayment options, and present well-supported workout solutions to the Loan Review Committee. You will combine sound underwriting judgment, responsive member service, and careful attention to regulatory and Credit Union requirements to manage a loss mitigation portfolio and implement approved solutions.

Requirements

Three to five years relevant experience and/or training.
Two years’ experience in consumer or mortgage lending.
Knowledge of the FDCPA, FCRA, SCRA, MLA as well as any other applicable state/federal laws and regulations.
Knowledge of 1st Mortgage, Home Equity or Consumer underwriting.
Proficiency with Microsoft Office Outlook, Excel Intermediate level, and Word Intermediate level.

Responsibilities

Counsels members and gathers required documentation for hardship assistance requests related to consumer loan products.
Evaluates loan status and supporting documentation to prepare appropriate policy-based recommendations for the Loan Review Committee.
Presents prepared loan workout options to the Loan Review Committee for approval or denial within approved guidelines.
Participates as a member of the Loan Review Committee.
Maintains the assigned Loss Mitigation portfolio for consumer loans.
Assists members with requests for short- and long-term consumer loan modification options.
Contacts members to obtain additional information required for loan review.
Resolves member request issues in a timely and professional manner.
Completes ability-to-repay analysis and scenario outcome reviews.
Uses specialized underwriting knowledge to evaluate loss mitigation applications and complete risk analysis accurately and timely.
Analyzes submitted documents and completes the workout sheet for Loan Committee review, clearly presenting the borrower’s financial position and the potential impact of the proposed workout on future payment ability.
Utilizes policy guidelines and relevant case information to recommend loss mitigation options, including modifications and repayment plans for consumer loans.
Recommends alternative consumer loan workout solutions based on the initial member conversation and the hardship presented.
Recommends consumer loan workout options to the Loan Review Committee for final approval.
Contacts third-party service providers to order and coordinate required services in a timely manner.
Troubleshoots complex member issues, makes recommendations to management, and follows through on approved actions until resolution.
Sets up approved loan workout options in the core system.
Completes the necessary steps to implement approved loss mitigation options.
Signs into the phone queue daily to help the members with questions concerning their request for assistance.
Writes routine reports and correspondence.
Remains cognizant and adheres to lending industry regulations pertaining to consumer loan modification.
Remains cognizant of and adheres to Credit Union policies and procedures, and regulations pertaining to the Bank Secrecy Act.

Benefits

Comprehensive healthcare
401(k)
Paid leave
Remote work options for applicable positions
Insurance coverage begins the 1st day of the month, following 30 days after hire date.
100% Credit Union-Paid Full-Time Employee Benefits
Salary: $65,000 - $87,500 / Annually
401(k) with employer match up to 6% and immediate 100% vesting
Gain Sharing Bonus (eligibility rules apply)
Health Insurance (Choice of two nationwide PPO plans)
High-Deductible Plan: 100% employer contribution toward premium. (HSA and FSA compatible)
Low-Deductible Plan: Generous employer contribution toward premium. (FSA compatible)
Dental Insurance: Generous employer contribution toward premium (HSA and FSA compatible)
Vision Insurance: Generous employer contribution toward premium (HSA and FSA compatible)
Long-term Disability Insurance
Flexible Spending Medical Account (FSA)
Flexible Spending Dependent Care Account
Health Savings Account (HSA)
Voluntary Supplemental Employee and Dependent Life Insurance
Voluntary Short-term Disability Insurance
Remote or Remote / Hybrid work options based on position
Life Insurance/AD&D
Vacation Leave (excluding Outside Loan Officers)
Sick and Safe Leave
11 Paid Holidays
Education Assistance
Employee Referral Bonus
Credit Union Membership
Eligible Employee Assistance Program
Identity Theft Protection (Additional premiums to add family members)
Pet Insurance
Employee Discount Program