Loss Mitigation Specialist

Presidential-Bank,-Fsb; Bethesda (MD); On-site; USD 60,000 - 90,000; Full time

Benefits offered by this job

Competitive benefits package

Job summary

Presidential Bank, FSB in Bethesda, MD is seeking a Loss Mitigation Specialist to maintain accurate data in our loan servicing system for mortgage, consumer, and commercial loans. You will perform collections calls, review complex loan documents, and manage loss mitigation activities in compliance with federal guidelines.

You will generate and review monthly reports for Senior Management, oversee bankruptcy processes, and coordinate with internal teams on payment inquiries, risk rating updates,

Qualifications

• Effective verbal and written communication skills, both internal and external.
• Strong organizational, planning, and time management abilities.
• Analytical mindset with problem-solving capabilities.
• Ability to interpret and apply data to mortgage, consumer, and commercial guidelines.
• Leadership skills for interaction with senior management and external executives.

Responsibilities

• Review delinquent loans for collections and loss mitigation actions.
• Maintain monthly and quarterly reports for Senior Management.
• Handle bankruptcy items per Federal guidelines.
• Direct loans through foreclosure processes per laws and investor guidelines.
• Prepare and review reporting to FHA, Freddie Mac, VA, Fannie Mae as needed.

Skills

Verbal & written communication

Organizational skills

Time management

Analytical thinking

Problem solving

Leadership

Banking operations knowledge

Accounting basics

Computer proficiency

Job description

Description

The Loss Mitigation Specialist position is primarily responsible for maintaining accurate data in our loan servicing system for mortgage, consumer and commercial loans. This includes collection calls, bankruptcy, loss mitigation, maintaining and reviewing reports, and responding to internal and external questions/problems. This will also include review and interpretation of complex loan and legal documentation packages.

• Reviewing loans for delinquency to make collections and loss mitigation calls.
• Maintaining monthly and quarterly reports for Senior Management.
• Handling Bankruptcy items in accordance with Federal Guidelines.
• Directing loans through the foreclosure process from start to finish following federal, local and investor guidelines.
• Monthly reporting to FHA, Freddie Mac, VA, Fannie Mae, etc. as necessary.
• Monitoring monthly maturity reports.
• Review and Document Risk Rating changes.
• Assist with the review of monthly billing statements.
• Knowledge of Credit Disputes and the use of E-Oscar.
• Assist on loan servicing inquiries regarding payment inquiries, transaction research, error resolution and general loan account questions.
• Posting of various mortgage payment types.
• Review daily loan reports as needed.
• Performs other reasonable duties, including back up of other loan servicing staff, as assigned by immediate supervisor.
• Remain informed of changes in Bank policies, procedures, and products.
• Other projects and/or duties as assigned.

Requirements

• In-depth knowledge of all mortgage products and services, policies, and procedures and related regulations including reporting and Audit requirements.
• Maintain working knowledge of the federal and state consumer protection laws (Unfair, Deceptive, or Abusive Acts or Practices; Fair Debt Collection Practices Act; Fair Credit Reporting Act; Servicemembers Civil Relief Act; etc.)
• Ability to interpret and apply relevant data to existing Mortgage, Consumer, Commercial, collection guidelines, procedures, practices, and regulations (Unfair, Deceptive, or Abusive Acts or Practices; Fair Debt Collection Practices Act; Fair Credit Reporting Act; Servicemembers Civil Relief Act; etc.)
• Effective verbal and written communication skills. Effective organizational, planning, and time management skills. Basic research, analytical, and problem-solving skills. Basic skill, exercising initiative and using good judgment to make sound decisions. Effective skill following, interpreting, and applying relevant data/instructions to guidelines, procedures, practices and regulations. Effective skill navigating multiple screens and PC applications and adapting to new technologies.
• Demonstrated ability to make complex decisions regarding a variety of financial activities.
• Demonstrated leadership skills with ability to deal effectively with external corporate executives and Company’s senior management.
• Broad knowledge of banking operations.
• Advanced accounting skills necessary to perform complex reporting and financial analysis functions.
• Moderate computer skills including word processing and spreadsheet applications.
• Knowledge of banking regulations and compliance regulations.

Presidential Bank, FSB offers a competitive benefits package that includes paid leave, two retirement plans, health, dental, vision, short- and long-term disability and life insurance.