Loss Mitigation Specialist

Marine Credit Union•Winona, MN

About The Position

This position is responsible for supporting the Loss Mitigation Department functions at Marine Credit Union. This includes performing tasks to support collections related activity, generating or analyzing reports, performing administrative functions and ensuring compliance with procedures, policies, and regulations.

Requirements

High level of experience and knowledge in multiple areas of collections and loss mitigation such as Bankruptcy, Foreclosure, Repossession, and Modifications.
Knowledge of collection processes and familiarity with regulations impacting collection practices
Knowledge of effective collections practices and loan delinquency management
High attention to detail
Above average verbal and written communication skills
Strong planning, organization, and implementation skills
Strong problem-solving skills
Knowledge of lending and underwriting to align with Marine Credit Union lending and collections practices
Above average computer skills, including MS-Office and loan origination software.
High School Diploma or equivalent required.
Collections and delinquency management experience, including judgment and garnishment.
Experience working in a process-oriented environment with importance placed on attention to detail.

Nice To Haves

Previous Consumer and/or Real Estate Lending experience preferred.
College Degree in Business Administration, Marketing, Sales or Finance desired.
A record of success in meeting set, external goals.

Responsibilities

Establish positive, productive, professional relationships with department teammates.
Support collection activities with knowledge and process in assigned areas of specialty, including Bankruptcy, Foreclosure, Replevin Judgments and Repossession, Money Judgments and Garnishment, Preparation, listing & sale of Other Real Estate Owned (OREO), Loan Modification and TDR.
Perform tasks related to the above areas as assigned.
Send collection letters as requested, ensuring compliance and accuracy of all communication.
Generate, analyze, and organize reports as requested on foreclosures, OREO properties, repossessions, loan charge off activity and others as required.
Reconcile and balance monthly foreclosure and OREO GL transactions
Monitor reports to ensure loan collection techniques and risk mitigation efforts are effective and meeting standard.
Review and process loan charge off requests as assigned.
Perform skip trace searches as needed.
Process requests for various Loss Mitigation functions
Review loan modification and mortgage foreclosure requests, gather additional documentation as requested, provide recommendations.
Ensure data quality by updating system information in a timely and accurate manner.
Engage in other tasks and projects as requested