Loss Mitigation Specialist - ON SITE

CONNEX CREDIT UNION INC•North Haven, CT

12d•$48,982 - $73,473•Onsite

About The Position

Connex Credit Union is seeking diverse talent motivated to improve the financial well-being of others for the Loss Mitigation Specialist role. This role involves performing loss mitigation and recovery activities for delinquent or charged-off accounts and loans in accordance with Connex and legal guidelines. The Specialist will make routine collection calls and handle non-routine situations with little guidance, aiming to minimize loss and enhance recovery. The position has a direct impact on loss mitigation and recovery.

Requirements

3-5 years similar mitigation and collection experience
High school degree
Sound judgment and decision making abilities.
Excellent problem-solving, organizational, analytical, verbal and written communication skills
Strong time management skills with the ability to manage multiple projects/assignments
Results driven, service oriented, self-motivated and able to work independently
Trustworthy with the ability to maintain highest level of integrity and trust
Knowledge of housing, direct/indirect auto lending, and trends in the industry.
Strong knowledge of Microsoft applications.
Continued education through selected training courses.
After hours meetings required.
Ability to work 40+ hours per week.

Responsibilities

Review general collection accounts and delinquent loans to determine which accounts require the initiation of collection actions.
Determine best methods of locating debtors; and determine and verify debtors’ whereabouts, employment, earnings, liabilities, assets, and ability to pay.
Investigate, evaluate, and analyze financial statements related to debtor income, assets, and employment history in order to determine ability to pay.
Set terms and methods of repayment.
Complete financial forms with information received from the debtor, credit reports, and other creditors.
Use computerized collection programs to monitor payment schedules for compliance.
Complete a full review of Modification and Short Sale packages received by the Collections Clerk and perform a comprehensive detailed analysis of income and expenses.
Work interdepartmentally with direct Manager and the Lending Department to determine the potential loss on mitigation options.
Issue documentation to attorneys in effort to recover balances on Secured and Unsecured loans other than real estate.
File Vehicle Supplemental Insurance (VSI), OpenLending and FannieMae claims.
Maintain recovery and posting of recovered claim funds.
Set values for repossessed vehicles to be sold at auction including opening bid, floor value, with leeway.
Perform additional duties as assigned.