Loss Mitigation Specialist

Camden National Bank • Gardiner, ME

1d • Onsite

About The Position

Live here. Play here. Bank here. Work here. If you’re looking to build your career at a forward-thinking organization with deep community roots and a vision for growth, success, and giving back, you’ve come to the right place. Get to know us: We’re your local community bank—and have been since 1875—that is committed to providing excellent customer service and giving back to our communities. We foster a collaborative, inclusive work environment as part of a close-knit team where your voice is valued and heard. Our highly engaged employees are rewarded for their performance and have ample opportunities for cross-training and advancement within the organization. We’ve been named one of the best places to work in Maine, and offer robust benefits focused on your holistic well-being.

Requirements

• Ability to read and comprehend simple instructions, short correspondence, and memos.
• Ability to write simple correspondence.
• Ability to effectively present information in one-on-one and small group situations to customers, clients, and other employees of the organization.
• Ability to add, subtract, multiply, and divide in all units of measure, using whole numbers, common fractions, and decimals.
• Ability to compute rate, ratio, and percent and to draw and interpret bar graphs.
• Ability to apply common sense understanding to carry out detailed but uninvolved written or oral instructions.
• Ability to deal with problems involving a few concrete variables in standardized situations.
• Knowledge of Internet software; Excel Spreadsheet software and Word Processing software.

Nice To Haves

• Two year college degree or equivalent experience.
• Three to five years of collections, underwriting or home ownership counseling experience is preferred.
• A basic knowledge of practical home ownership is encouraged.

Responsibilities

• Contacting severely delinquent borrowers on serviced and bank-owned loans to determine causes of delinquency.
• Collect financial information and review for possible loss mitigation options to cure the borrower’s delinquency.
• In the event of an incurable default, working with borrowers to liquidate their homes in an expeditious and cost-effective manner.
• Responsible for following the account throughout the loss mitigation process from first contact through eventual claim (if appropriate).
• Presenting the file to the team leader and/or the Holder of the mortgage for approval to refer the matter to an attorney for foreclosure if the borrower is uncooperative or unable to qualify for a loss mitigation alternative.
• Potential to be involved in the court-mandated mediation program.
• Oversight of property management to including review of property inspection reports, appropriate action to preserve and protect properties following the published guidelines of the Holder and/or any mortgage insurance company that may be involved in the loan.
• Shadow and cross-train with the team leader in an ongoing effort to expand their knowledge and utility to the Bank.
• Calling of delinquent Borrowers for payments on loans running from 15 – 90 days past due, depending on department staffing.

Benefits

• Robust medical, dental, and vision insurance packages
• Generous time off, including paid federal holidays and paid day off for your birthday
• 401(k) retirement savings plan
• Tuition reimbursement, professional development, and career growth opportunities
• Employee assistance program
• Comprehensive wellness program

What This Job Offers

• Job Type: Full-time
• Career Level: Mid Level
• Education Level: Associate degree