Repossession Specialist

Lake Michigan Credit Union • Grand Rapids, MI

3d • Onsite

About The Position

LMCU is looking for a Repossession Specialist who will be responsible for preserving the Credit Union’s assets by controlling delinquent loan accounts, collecting delinquent loan payments and/or recovering collateral.

Requirements

• Two years of similar or related experience.
• Excellent written and verbal communication skills.

Nice To Haves

• Prior experience working for a credit union.

Responsibilities

• Contacts delinquent accounts by phone and mail; takes appropriate action to bring current or seize LMCU collateral.
• Analyzes financial situation of delinquent borrowers and values the collateral in which LMCU holds a secured interest.
• Provides recommendations to management for either Loan Work Out with Members or that collateral needs to be repossessed.
• Attends auctions as needed to ensure LMCU is getting the most value on all repossessed collateral and maintains accurate reports showing all existing LMCU collateral with proper PVGL amounts.
• Informs management of trends in loan underwriting contributing to delinquent/charged off loans.
• Ensures that LMCU is obtaining a minimum of 90% of all PVGL amounts for all repossessed collateral.

Benefits

• weekly pay
• retirement savings options
• comprehensive health coverage including medical (with prescription), dental, vision
• HSA match
• paid parental leave
• tuition reimbursement

What This Job Offers

• Job Type: Full-time
• Career Level: Mid Level
• Education Level: No Education Listed