Loss Mitigation Specialist

OE Federal Credit Union • Livermore, CA

2d • Onsite

About The Position

Join the Best “UNION” Credit Union Around! In 1964, OE Federal Credit Union opened its doors to serve union members with a simple goal of providing a better alternative to banks. A credit union is more than a financial institution. We are a community, a family. Our teams are our greatest asset, we are energetic, dynamic, and passionate about assisting our members with financial wellness. Built on a foundation of union pride, OE Federal is a 1.5 billion company and the country’s largest labor-based credit union serving more than 115,000 members nationwide! Our People Make the Difference! Are you looking to take on a dynamic and challenging role? OE Federal is seeking to hire a Loss Mitigation Specialist! Your Purpose You will be responsible for member outreach to help borrowers with repayment solutions. Assisting members by presenting options for collateral retention such as forbearance and consumer loan deferral in accordance with the Credit Union Policies.

Requirements

• High School Diploma/GED and minimum 1 year of work experience in a similar role required.
• Working knowledge and understanding of RESPA, Bankruptcy Law, and FCRA required.
• Knowledge of credit union collection laws and regulations required.
• Excellent interpersonal, verbal and written communication skills required.
• Excellent attention to detail, time management, critical thinking and problem-solving skills required.
• Proficiency with Microsoft Word, Excel and Outlook required.

Nice To Haves

• Premium pay for bilingual skills (English/Spanish)

Responsibilities

• Administer correspondence with members, both verbally and in writing, to obtain required documentation for loss mitigation review.
• Execute on the Credit Union’s loss mitigation strategies through early intervention outreach to real estate loans and other products as assigned.
• Analyze the member’s situation and collateral risk to identify alternative solutions, including repayment plans, loan modifications, short sales, forbearance plans and deed- in-lieu agreements.
• Analyze loan application, financial documentation, credit report, property profile, note, and other loan documents to ensure the credit union’s position is secured before proceeding with legal action.
• Handle complex loan delinquency issues due to death and bankruptcy.
• Investigate and respond to credit bureau disputes submitted through direct and indirect channels.
• Maintain Credit Dispute logs to ensure compliance with regulatory requirements.
• Provide accurate written correspondence to members based on dispute outcome.
• Collaborate seamlessly with colleagues across departments and branches to deliver optimal and efficient service to our members.
• Uphold a standard of professionalism actively fostering positive relationships internally and externally.
• Develop and maintain a comprehensive understanding of the credit union’s products and services, ensuring compliance with applicable Federal and State laws, Credit Union banking regulations, and OE Federal Credit Union’s policies and procedures and current promotions.
• Perform other related duties as assigned.

Benefits

• Medical, dental and vision benefits that cover the employee, spouse and dependents
• Retiree medical benefits
• A defined benefit Pension Plan with employer contributions of $3.50/hour
• Life Insurance/AD&D
• 11 ½ Paid Holidays per year
• 17 days of Paid Time Off (PTO) to start
• A 401(k) plan
• Employee loan discounts

What This Job Offers

• Job Type: Full-time
• Career Level: Mid Level
• Education Level: High school or GED