Loss Mitigation Associate Flex - Wichita, Kansas

MERITRUST CREDIT UNION • Wichita, KS

13d • $23 - $29

About The Position

This is a full time position working 40 hours a week, Monday to Friday from 8:00am to 5:00pm. The Loss Mitigation Associate supports the management of delinquent real estate secured loans, including first mortgages and home equity lines of credit. This role works directly with members to gather financial information, understand hardship situations, and assist in presenting available resolution options such as repayment plans and short term forbearance, in accordance with established guidelines. This position is designated as a flex role within the Member Solutions team. In addition to primary loss mitigation responsibilities, the associate provides cross functional support to other areas of Member Solutions including Insurance, Collateral Protection, Recovery, and Repossession as business needs require. The role follows internal procedures and regulatory requirements, escalates complex cases appropriately, and supports efforts to reduce risk and losses to the credit union while maintaining a positive member experience. Key Flex Support Areas Insurance & Collateral Protection (CPI) Assist with CPI insurance processing, including reviewing insurance verifications and tracking collateral coverage. Support member inquiries related to insurance requirements and coverage status. Total Loss & GAP Claims Support the Insurance Team by processing total loss settlements and validating payoff figures. Coordinate with insurance carriers and vendors as needed. Assist with GAP claim submissions, documentation review, and claim follow up. Repossession & Collateral Management Help coordinate repossession assignments, tracking, and vendor communication. Support the repossession process through documentation review, file completion, and compliance checks. Bankruptcy & Recovery Support Assist with bankruptcy workflows, including monitoring filings, updating accounts, and ensuring system accuracy. Provide backup support to the Recovery team for tasks related to charged off accounts, deficiency balances, and collection activities as needed.

Requirements

• High school diploma or equivalent required.
• Strong understanding of lending fundamentals, loan collection practices, and loss mitigation strategies.
• Knowledge of legal aspects of collections, including bankruptcy, foreclosure, and repossession.
• Familiarity with lien priority, equity calculations, and redemption rights.
• Working knowledge of court systems (Small Claims, Circuit, District, Bankruptcy).
• Understanding of federal and state regulations governing collections and credit reporting.
• Minimum of 5 years of collection experience with a full service financial institution.
• At least 2 years of experience managing delinquent real estate and/or commercial loans.
• Proficiency in Microsoft Office suite (Word, Excel, Outlook).
• Ability to use loan servicing systems and collection software.
• Strong analytical skills to interpret financial data and assess risk.
• Excellent written and verbal communication skills, including professional telephone etiquette.
• Ability to manage multiple priorities and maintain detailed documentation.

Nice To Haves

• Associate or bachelor’s degree in finance, Business Administration, or a related field preferred.
• Experience working with investor guidelines (e.g., Freddie Mac, Fannie Mae) is preferred.

Responsibilities

• Contact members with delinquent real estate loans to gather financial information, discuss hardship situations, and explain available loss mitigation options in accordance with established guidelines.
• Assist with reviewing and processing loan modification, forbearance, and repayment plan requests, ensuring applications are complete and properly documented.
• Support foreclosure related activities by coordinating with legal counsel, foreclosure attorneys, and third party vendors under direction, and tracking key milestones.
• Maintain accurate and timely records of member communications, loan status updates, and system notes in accordance with departmental standards.
• Collect and review financial documentation (e.g., income statements, tax returns, credit reports) to support loss mitigation evaluations, escalating complex analyses as appropriate.
• Refer non performing or high risk loans to Specialists for further review, including cases requiring foreclosure, short sale, or liquidation consideration.
• Order property inspections and broker price opinions (BPOs) as needed to support valuation efforts.
• Assist with coordinating activities involving real estate agents, property preservation companies, and other vendors related to property maintenance and disposition.
• Ensure compliance with all applicable federal, state, investor, and internal loan servicing and collections requirements.
• Support internal and external audits by gathering requested documentation and responding to audit inquiries under guidance.
• Assist with maintaining and updating loss mitigation procedures, job aids, and documentation as processes or systems change.
• Perform tasks related to investor specific loss mitigation programs and reporting requirements (e.g., Freddie Mac, Fannie Mae) as assigned.
• Participate in required training to remain current on regulatory requirements, investor guidelines, and servicing protocols.
• Provide regular status updates on assigned accounts to supervisors and promptly escalate emerging risks or concerns.
• Assist with routine portfolio and activity reporting by compiling data and summaries as requested.
• Participate in meetings with Business Banking and other internal teams to support coordinated member service efforts.
• Attend interdepartmental meetings to share updates, learn best practices, and support cross functional initiatives.
• Contact members with delinquent commercial loans to collect financial information and assist with loss mitigation activities under supervision.
• Provide support for consumer loss mitigation activities as needed.
• Perform additional duties and flex assignments as required to support overall Member Solutions team objectives and workload demands.

Benefits

• Comprehensive medical insurance plan
• Dental and vision insurance
• Generous paid time off
• 12 paid holidays
• Annual bonus (based off of annual results/scorecard each year)
• 401(k) plan
• Wellness program
• Tuition assistance
• Employee loan discount
• Employee Assistance Program (EAP)
• Life and disability coverage
• Career development and pathing opportunities to move into leadership roles or other lines of business within Meritrust Credit Union such as Commercial Lending, Finance, Marketing, Underwriting, Member Solutions, Training, Human Resources, and more.
• Supportive and engaging work environment.
• A wellness and sustainable work culture that puts family, Mother Nature, our community, and your health first.
• A work environment that encourages personal as much as professional growth, teamwork to make the dream work, and treating everyone equally.

What This Job Offers

• Job Type: Full-time
• Career Level: Entry Level
• Education Level: High school or GED