Sr. Collections Specialist

North Easton Savings Bank•Easton, MA

7h•Hybrid

About The Position

Under the supervision of the Collections Manager, performs a variety of financial and regulatory tasks to collect delinquent Residential, Consumer and Commercial loans ensuring compliance with all state and federal lending regulations. This is a hybrid position reporting to the Bank’s main office in South Easton, MA 2 – 3 times per week. Only candidates currently located within a reasonable commuting distance will be considered.

Requirements

High school diploma or equivalent coupled with relevant comparable work experience required.
Minimum 5 (five) years relevant experience, preferably within a financial institution.
Strong knowledge of Fannie Mae, Freddie Mac, SBA or PMI servicing default guidelines and collections required.
Strong verbal, written, and human relations skills.
High level of attention to detail, and the ability to meet deadlines.
Ability to deal tactfully with customers.

Nice To Haves

Bachelor’s degree preferred
Bi-lingual ability is a plus.

Responsibilities

Performs collection activities on all residential and consumer loans serviced including participation and investor loans in adherence to all applicable federal, state, local regulations, investor guidelines, mortgage insurance guidelines, and servicing agreements.
Reviews delinquent accounts to ensure payments are properly credited in compliance with state and federal lending regulations. Includes review of the unapplied report Contacts customers regarding delinquent accounts according to schedules established by the Bank or investors by telephone, letters, and personal visits.
Research’s lost checks and payments and recommends account updates based on research.
Provides recommendations for repossessions, charge offs and foreclosures to the Collections Manager.
Under the guidance of the Collections Manager, coordinates legal action with attorneys.
Ensures the Bank’s reporting to the credit bureaus is accurate.
Processes all inquiries regarding credit reporting through E- Oscar, ensuring the response is processed within regulatory guidelines.
Orders property inspections and valuations on past due loans and delinquent tax loans. Works with vendors on securing collateral, including OREO properties and vehicles.
Recommends and negotiates loan modification and other loss mitigation solutions as appropriate. Underwrites the hardship packages in accordance with Bank guidelines, investor guidelines and PMI guidelines, when applicable.
Assists in the prepares of all delinquency and collection area reports for management and the Boards.
Ensures that all collection activities are properly conducted and documented. All documentation is maintained and held in accordance with the retention guidelines.
Processes monthly default reporting within the established guidelines for all investor, participation, and Private Mortgage Insurance Companies.
Reviews and updates monitoring of non-escrow delinquent real estate taxes on a quarterly basis. Conducts follow up as necessary until the issue is resolved. Participates in the delinquent tax review quarterly meeting.
Files small claims actions and represents the Bank at court proceedings on delinquent or charged off loans.
Monitors and manages accounts with customers in bankruptcy. Updates the core system accordingly for accurate reporting.
Obtains appraisals on delinquent real estate or OREO (Other Real Estate Owned) per practice.
Assists the Collections Manager with facilitating the preservation and disposition of OREO property.
Assists in the preparation for the sale of repossessed collateral per Bank policy.
Utilizes the Bank’s collection platform to create efficiency in monitoring and improve reporting.
Maintains thorough knowledge and understanding of Bank policies, procedures, guidelines, and philosophies. Ensures compliance with all applicable federal, state, and local regulation including but not limited to: Fair Debt Collections Practices Act, 940 CMR 7.00: Debt Collection Regulations, MGL Chapter 194 An Act Preventing Unlawful and Unnecessary Foreclosures, UDAAP, RESPA, Flood Disaster Protection Act, Fair Credit Reporting, Regulation Z (Truth in Lending), Regulation B (CRA), Bank Secrecy Act, Regulation P (Privacy of Consumer Financial Information), Service Members Civil Relief Act of 2003.
Assisting in loan servicing activities and other duties as assigned.