Loss Mitigation Recovery Specialist

Washington State Employees Credit Union•Olympia, WA

1d•Hybrid

About The Position

Working in WSECUs Mortgage Servicing department, this role is responsible for assigned tasks within the Loss Mitigation Team. The specialist will provide servicing support related to collections on past due mortgage and home equity loans and assist members with foreclosure prevention alternatives (FPAs). The role involves performing assigned tasks accurately and efficiently, and handling member service requests as necessary.

Requirements

Minimum of three (3) years’ experience in an office environment or in a service-related position.
Minimum of (two) 2 years’ experience in real estate loan collection activities.
Experience or familiarity with the mortgage industry and mortgage-related documents.
Intermediate or greater proficiency in Microsoft Office software applications and the ability to master in-house computer operating systems.

Nice To Haves

Experience with and knowledge of Fannie Mae, Freddie Mac, VA, USDA and/or WSECU investor servicing guidelines.
Experience and knowledge of state and federal regulations governing “general and/or loss mitigation” mortgage servicing activities.
Training in customer service, communication, and accounting.
Experience with mortgage servicing system platforms, core banking platforms, and/or collection system platforms.

Responsibilities

Maintaining working knowledge of WSECU residential real estate secured loans, processing, and products through ongoing training, department updates, and credit union internal communications.
Providing quality service to credit union members, supporting teams across WSECU’s front and back offices, and third parties with emphasis on enhancing member financial well-being by educating members and coworkers on WSECU residential real estate secured loan processes and regulations.
Possessing comprehensive knowledge of and ability to interpret residential real estate loan and servicing documents to create mutual understanding with members, coworker support teams, and third parties.
Assisting with loan research and/or payment correction requests, which may require interest calculations, payment adjustments, or other loan corrections.
Working as an active member of the loss mitigation telephone queue/call group, upholding department phone quality service level expectations.
Initiating outbound collection calls and receiving inbound calls regarding 16-91+ days past due payments and first/early payment defaults on mortgage and home equity loans.
Preparing and mailing reminder and late payment notifications for past due payments and other various notices, letters, statements, and routine mailings to borrowers.
Submitting and tracking loss mitigation expense invoices for payment or reimbursement.
Providing courier duties and support with incoming and outgoing documents and mail delivery at WSECU’s HQ Campus.
Providing clerical support with document imaging, and document custody filing and tracking.
Complying with federal regulations and credit union guidelines applicable to residential real estate secured loan servicing.

Benefits

Medical, Dental, Vision, and Life Insurance with Premiums paid by WSECU
Full-Time Regular employees accrue general leave and sick leave, on a monthly basis
Part-Time employees accrue general leave, on a monthly basis
11 Paid Holidays
Employer paid Long Term Disability & Long-Term Care plan for Full-Time employees
Employer paid Long Term Care plan for Part-Time employees
401(K) with 8.5% Contribution by WSECU to begin 1st quarter after 1 year of service
Paid Volunteer Leave
Tuition Assistance
Employee Assistance Program & Employee Discounts