Loss Mitigation Specialist

Camden National Bank • Gardiner, ME

17h • 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.

The primary responsibilities include contacting severely delinquent borrowers on serviced and bank-owned loans to determine causes of delinquency. The essential functions are noted below; however, at Camden National responsibilities may evolve over time given organization, technological and/or staffing changes. At any point other duties may be assigned. Essential Duties and Responsibilities include the following. 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). If the borrower is uncooperative, or otherwise unable to qualify for a loss mitigation alternative, the Specialist will present the file to the team leader and/or the Holder of the mortgage for approval to refer the matter to an attorney for foreclosure. Potential to be involved in the court-mandated mediation program is a distinct possibility. Will also be involved in the 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. Will shadow and cross-train with the team leader in an ongoing effort to expand their knowledge and utility to the Bank. The position may also include the calling of delinquent Borrowers for payments on loans running from 15 – 90 days past due, depending on department staffing.

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.
• Knowledge of Excel Spreadsheet software.
• Knowledge of 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.
• Following the account throughout the loss mitigation process from first contact through eventual claim (if appropriate).
• Presenting files 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.
• Involvement in the court-mandated mediation program.
• Oversight of property management, including review of property inspection reports and appropriate action to preserve and protect properties following the published guidelines of the Holder and/or any mortgage insurance company.
• Shadowing and cross-training with the team leader.
• Calling 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
• 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