Loss Mitigation Specialist III (Bankruptcy & Foreclosure)

ARISE FEDERAL CREDIT UNION•Canton, MA

4d•$32 - $36•Hybrid

About The Position

As a Loss Mitigation Specialist III – Bankruptcy & Foreclosure, you’ll manage complex delinquent accounts with a focus on bankruptcy, foreclosure, loss mitigation, and loan modification. You’ll serve as a subject matter expert and trusted resource for the Financial Assistance team, helping navigate sensitive account situations while ensuring accurate, timely, and compliant resolutions. This role combines advanced account management, regulatory knowledge, problem-solving, and collaboration with members, attorneys, trustees, investors, vendors, and internal partners.

Requirements

High school diploma or equivalent required; bachelor’s degree preferred.
3–5 years of progressive experience in collections, loan servicing, loss mitigation, bankruptcy, foreclosure, repossession, or a related financial services function.
Demonstrated experience managing complex bankruptcy and/or foreclosure accounts.
Strong knowledge of collections, delinquency management, loss mitigation, loan modifications, bankruptcy, foreclosure, and repossession.
Working knowledge of applicable federal and state regulations, investor requirements, and Credit Union policies.
Ability to independently manage complex caseloads, competing priorities, and time-sensitive legal or regulatory deadlines.
Strong analytical, organizational, problem-solving, and attention-to-detail skills.
Excellent written and verbal communication skills, particularly when handling sensitive or complex account matters.
Proficiency with Microsoft Office, including Excel, Word, and Outlook, and the ability to learn loan servicing and collections systems.

Nice To Haves

Experience working with attorneys, trustees, investors, vendors, and other third parties preferred.

Responsibilities

Manage complex delinquent accounts involving bankruptcy, foreclosure, loss mitigation, and loan modifications from referral through resolution.
Serve as a subject matter expert on bankruptcy and foreclosure processes, including documentation, legal timelines, payment requirements, notices, and status tracking.
Monitor Chapter 7 and Chapter 13 bankruptcy cases, including account coding, payment application, claims, documentation, and ongoing servicing requirements.
Coordinate foreclosure activities, monitoring attorney actions, required timelines, documentation, property status, and investor requirements.
Evaluate borrower financial information and eligibility for loan modifications and other loss mitigation solutions in accordance with established programs and guidelines.
Partner with members, attorneys, trustees, investors, vendors, and internal teams to resolve complex account issues and ensure timely communication.
Monitor assigned accounts for critical deadlines, legal milestones, payment activity, and required actions, escalating issues when appropriate.
Support repossession and recovery activities, including vendor coordination, documentation review, account updates, and issue resolution.
Maintain accurate loan, bankruptcy, foreclosure, and loss mitigation records and documentation.
Support investor and regulatory reporting, including applicable Fannie Mae, FHLB, and other reporting requirements.
Coordinate the preparation and transmission of accounts to third-party recovery agencies, ensuring accurate and timely submissions.
Serve as a resource and mentor to Financial Assistance team members on complex bankruptcy, foreclosure, loss mitigation, and loan modification matters.
Identify process, documentation, compliance, and system improvement opportunities and share recommendations with management.
Support audits, examinations, quality control reviews, and regulatory or investor information requests.
Maintain current knowledge of applicable bankruptcy, foreclosure, collections, loss mitigation, consumer lending, servicing, and investor requirements.
Protect the confidentiality of sensitive member, financial, and legal information.