Loss Mitigation Specialist I

Opportunity Bank of Montana; Helena (MT); In loco; USD 52.000 - 60.000; Tempo pieno

Descrizione del lavoro

Opportunitybank seeks a diligent collections specialist in the United States to manage contact with borrowers, follow up on delinquent loans, and coordinate workflows for loss mitigation and foreclosure processes.

You will gather documentation, liaise with counsel and third parties, monitor reports, and ensure compliance with Fair Debt Collections Practices Act and relevant regulations while maintaining meticulous records.

Mansioni

• Contact borrowers regarding delinquent loans and collections activities.
• Coordinate with internal departments and third parties for loss mitigation, workouts, and foreclosure actions.
• Gather documentation for government and internal loan modification and repayment plans.
• Monitor borrower progress on trial modifications and ensure timely follow-ups.

Descrizione del lavoro

Perform all duties in accordance with company guidelines, the Fair Debt Collections Practices Act, and all applicable federal, state and local regulations.

Contact with customers in all facets of loan collections.

Work problem reports on all non-performing loans and report as required to Internal Asset Review Committee and Board of Directors.

Monitor all foreclosure and REO properties such as inspections and property preservation duties.

Respond to customer inquiries regarding defaults and work out or loss mitigation options which also include sending requests for financial information while maintaining customer electronic contact collection logs.

Educate borrower on all options that include home retention and liquidation.

Act as a liaison between the mortgagor, counsel and in some cases a realtor or third party.

Responsible for gathering all required documentation for government and internal loan modification, forbearance plans, repayment plans, reinstatements, short sales, deeds-in-lieu of foreclosure, short payoffs and other possible workouts.

Recover losses through filing claims with investors and have complete knowledge of all claim systems.

Process forbearance plans, repayment plans, reinstatements, short sales, deeds-in-lieu of foreclosure, short payoffs and other possible workouts.

Monitor and perform frequent follow up with borrowers on trial modifications to ensure conversion. Assist lending department in troubled debt restructuring and modifications as needed.

Monitor and perform collection tasks as related to the daily delinquent loan report

Coordinate vendors used specifically for foreclosures, real estate owned properties and repossessions.

Obtain credit reports for collection purposes.

Obtain appraisals or other property evaluations as needed.

Prepare foreclosure packages to send to counsel and/or investor to initiate foreclosure.

Perform other related duties as assigned.

Equal Opportunity Employer
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