Loss Mitigation Associate (Durham)

Latino Credit Union•Durham, NC

2d•Onsite

About The Position

The Loss Mitigation Associate - Collections is responsible for understanding and following policies and procedures regarding loss mitigation processes for Mortgage Loan and all real estate secured loans, Consumer Loans, and Credit Cards. The Loss Mitigation Associate - Collections will develop delinquency controls and effective collection techniques, delinquency letters, and collection calls for members protected under the Servicemembers Civil Relief Act (SCRA) and ensure compliance with state and federal regulations. Handling special situation. Process correspondence for the collections department, provide general administrative support, and maintain accurate records.

Requirements

High School degree
Minimum 0 to 1 years related/office experience preferred.
Excellent verbal and written communication skills in Spanish, and English.
Proficiency in Microsoft Office and other computer software, including email functions.
Proficiency in using collection systems and generating reports.
Excellent organizational and administrative skills.
Ability to handle sensitive and confidential information.
Proficiency in using office software and equipment.
Previous experience in a similar role is preferred.
Attention to detail and accuracy in work.
Ability to work independently and as part of a team.
Strong communication skills, both written and verbal.

Responsibilities

Ensure compliance with state and federal regulations.
Understand and follow policies and procedures regarding loss mitigation processes for Mortgage Loan and all real estate secured loans, Consumer Loans, and Credit Cards.
Access, document, and track delinquency reports for home loans, home equity loans, consumer loans, and credit cards in LCCU systems.
Check for delinquent accounts, maintenance, and processing errors that can make a loan appear delinquent for home loans, home equity loans, consumer loans, and credit cards in the LCCU system.
Identify errors and correct them.
Analyze accounts to identify appropriate next steps based on factors such as account types, amount owed, transfer of funds, minimum balance, credit rating, and collateral value.
Process all collections correspondence accurately.
Document collection efforts.
Keep notes of delinquency efforts up to date in collection systems and enter data into the credit union's collection system.
Ensure that notes can be used in a court of law and can be reviewed by regulators.
Respond to phone calls related to payment advice and delinquent accounts.
Supervise the sending of payment advice, detecting and correcting credit union errors in a timely manner.
Provide members with a full explanation of the loan status as requested.
Follow up on delinquent loans and make calls for interest, partial or full payments.
Maintain a detailed written record of all communications made regarding delinquency and scanned documents.
Perform other administrative duties as needed.
Responsible for successfully completing required compliance training courses (BSA/Identity Theft) on an annual basis.
Understand Servicemembers Civil Relief Act (SCRA).
Understand Unfair, Deceptive, and Abusive Acts and Practices (UDAAP).
Understand Equal Credit Opportunity Act (ECOA) – Regulation B.
Understand Fair Credit Reporting Act (FCRA) – Regulation V.
Understand Servicemembers Civil Relief Act (SCRA).
Understand North Carolina General Statutes.