Loss Mitigation & Collections Specialist

Morton-Community-Bank; Springfield (IL); On-site; USD 2,500 - 3,500; Full time

Job summary

Morton-Community-Bank is seeking a Loss Mitigation Specialist to handle delinquent and charged-off accounts in accordance with bank and legal guidelines. The role covers contact with debtors, adherence to sale and contract conditions, and thorough documentation for legal purposes.

Responsibilities include participating in loss mitigation, foreclosures, repossessions, recovery, bankruptcy, and agency liaison collections, as well as supporting legal actions with attorneys.

Qualifications

• High school diploma or equivalent is required.
• Annual BSA and bank-related training through BAI is required.
• Knowledge of customer service principles is essential.
• Excellent computer skills and ability to use standard office software are required.

Responsibilities

• Contact delinquent or charged-off account holders to discuss details of money owed.
• Remind clients of sale, credit, or contract conditions.
• Maintain extensive documentation for legal purposes.
• Participate in loss mitigation, foreclosures, repossessions, and recovery processes.
• Assist with REO management, including showings and communications with realtors.
• Coordinate with attorneys and initiate legal actions when needed.

Skills

Customer service

Education

High School diploma or equivalent

Tools

Computer skills

Job description

Morton-Community-Bank is seeking a Loss Mitigation Specialist to handle delinquent and charged-off accounts in accordance with bank and legal guidelines. The role covers contact with debtors, adherence to sale and contract conditions, and thorough documentation for legal purposes.

Responsibilities include participating in loss mitigation, foreclosures, repossessions, recovery, bankruptcy, and agency liaison collections, as well as supporting legal actions with attorneys.