Loss Mitigation Specialist III (Bankruptcy & Foreclosure)

Arise Financial; Canton (MA); On-site; USD 44,000 - 50,000; Full time

Benefits offered by this job

Great Place to Work

Competitive pay

Annual incentive/bonus potential

Comprehensive benefits (health, dental

vision, life, and AD&D)

401(k) with employer match

Hybrid work from home flexibility

Generous paid time off and holidays

Tuition reimbursement and development

Job summary

Arise Financial in the United States seeks a Loss Mitigation Specialist III – Bankruptcy & Foreclosure to manage complex delinquent accounts with a focus on bankruptcy, foreclosure, and loan modification. You will serve as a subject matter expert for the Financial Assistance team, ensuring timely, compliant resolutions.

This role combines advanced account management with regulatory knowledge, collaborating with attorneys, trustees, investors, and internal partners.

Qualifications

• High School Diploma or equivalent required; Bachelor's degree preferred.
• 3–5 years of progressive experience in collections, loan servicing, loss mitigation, bankruptcy or related function.
• Strong knowledge of bankruptcy, foreclosure, loss mitigation and related regulations.

Responsibilities

• Manage complex delinquent accounts involving bankruptcy, foreclosure, loss mitigation, and loan modifications from referral through resolution.
• Serve as SME on bankruptcy and foreclosure processes, timelines, and notices.
• Monitor Chapter 7/13 cases, coding, payments, claims and servicing requirements.
• Coordinate foreclosure activities with attorneys, trustees, investors, and internal teams.
• Evaluate borrower financials for loan modifications and loss mitigation eligibility.
• Maintain accurate loss mitigation records and regulatory reporting submissions.
• Support audits, regulatory requests, and vendor coordination as needed.

Skills

Bankruptcy

Foreclosure

Loss mitigation

Loan modification

Regulatory knowledge

Communication skills

Analytical skills

Attention to detail

Education

High School Diploma or equivalent

Bachelor's degree preferred

Tools

Microsoft Office

Excel

Word

Outlook

Loan servicing systems

Job description

There's never been a more exciting time to join us! We're launching a new brand and a new name Arise Financial(formerly known as Rockland FCU) with a bold vision for the future—one built on innovation, technology, and a commitment to helping people live more and worry less.

For more than a century, we've believed that banking is about putting people first. We're building on that legacy while embracing new ideas and creating an even better experience for both our employees and the members and communities we serve.

If you're looking for a place where you can grow, make an impact, and help shape what's next, we'd love to hear from you.

About the Opportunity

There's never been a more exciting time to join us! We're launching a new brand and a new name Arise Financial(formerly known as Rockland FCU) with a bold vision for the future—one built on innovation, technology, and a commitment to helping people live more and worry less.

For more than a century, we've believed that banking is about putting people first. We're building on that legacy while embracing new ideas and creating an even better experience for both our employees and the members and communities we serve.

If you're looking for a place where you can grow, make an impact, and help shape what's next, we'd love to hear from you.

Why You'll Love Working Here

• Certified Great Place to Work®
• Competitive pay
• Annual incentive/bonus potential
• Comprehensive benefits package includinghealth, dental, vision, life, and AD&D
• 401(k) plan with employer match
• Hybrid work from home flexibility (min 3 days a week in office)
• Generous paid time off and holidays
• Tuition reimbursement and professional development opportunities
• Opportunities for professional growth and career development
• Meaningful work that positively impacts our members and communities

About the Role

As a Loss Mitigation Specialist III – Bankruptcy & Foreclosure, you’ll manage complex delinquent accounts with a focus on bankruptcy, foreclosure, loss mitigation, and loan modification. You’ll serve as a subject matter expert and trusted resource for the Financial Assistance team, helping navigate sensitive account situations while ensuring accurate, timely, and compliant resolutions.

This role combines advanced account management, regulatory knowledge, problem-solving, and collaboration with members, attorneys, trustees, investors, vendors, and internal partners.

What You'll Do

• Manage complex delinquent accounts involving bankruptcy, foreclosure, loss mitigation, and loan modifications from referral through resolution.
• Serve as a subject matter expert on bankruptcy and foreclosure processes, including documentation, legal timelines, payment requirements, notices, and status tracking.
• Monitor Chapter 7 and Chapter 13 bankruptcy cases, including account coding, payment application, claims, documentation, and ongoing servicing requirements.
• Coordinate foreclosure activities, monitoring attorney actions, required timelines, documentation, property status, and investor requirements.
• Evaluate borrower financial information and eligibility for loan modifications and other loss mitigation solutions in accordance with established programs and guidelines.
• Partner with members, attorneys, trustees, investors, vendors, and internal teams to resolve complex account issues and ensure timely communication.
• Monitor assigned accounts for critical deadlines, legal milestones, payment activity, and required actions, escalating issues when appropriate.
• Support repossession and recovery activities, including vendor coordination, documentation review, account updates, and issue resolution.
• Maintain accurate loan, bankruptcy, foreclosure, and loss mitigation records and documentation.
• Support investor and regulatory reporting, including applicable Fannie Mae, FHLB, and other reporting requirements.
• Coordinate the preparation and transmission of accounts to third-party recovery agencies, ensuring accurate and timely submissions.
• Serve as a resource and mentor to Financial Assistance team members on complex bankruptcy, foreclosure, loss mitigation, and loan modification matters.
• Identify process, documentation, compliance, and system improvement opportunities and share recommendations with management.
• Support audits, examinations, quality control reviews, and regulatory or investor information requests.
• Maintain current knowledge of applicable bankruptcy, foreclosure, collections, loss mitigation, consumer lending, servicing, and investor requirements.
• Protect the confidentiality of sensitive member, financial, and legal information.

What We're Looking For

• High school diploma or equivalent required; bachelor’s degree preferred.
• 3–5 years of progressive experience in collections, loan servicing, loss mitigation, bankruptcy, foreclosure, repossession, or a related financial services function.
• Demonstrated experience managing complex bankruptcy and/or foreclosure accounts.
• Strong knowledge of collections, delinquency management, loss mitigation, loan modifications, bankruptcy, foreclosure, and repossession.
• Working knowledge of applicable federal and state regulations, investor requirements, and Credit Union policies.
• Experience working with attorneys, trustees, investors, vendors, and other third parties preferred.
• Ability to independently manage complex caseloads, competing priorities, and time-sensitive legal or regulatory deadlines.
• Strong analytical, organizational, problem-solving, and attention-to-detail skills.
• Excellent written and verbal communication skills, particularly when handling sensitive or complex account matters.
• Proficiency with Microsoft Office, including Excel, Word, and Outlook, and the ability to learn loan servicing and collections systems.

We are an Equal Opportunity Employer. All qualified applicants will receive consideration for employment without regard to race, color, religion, sex, sexual orientation, gender identity,national origin, or protected veteran status and will not be discriminated against on the basis of disability.

In alignment with our commitment to pay transparency, we're pleased to share that the base range for this position is $32.00 - $36.00per hour, excluding fringe benefits or potential incentives. If you're hired, your final base pay will be determined based on factors such as skills, education, and experience. We also take pay equity seriously and consider the internal equity of our current team members as part of any final offer.

This job posting is for informational purposes only and should not be construed as a complete listing of the job responsibilities and requirements.

At this time, the Credit Union will not sponsor a new applicant for employment authorization or offer any immigration related support for this position (i.e., H1B, F-1 OPT, F-1 STEM OPT, F-1 CPT, J-1, TN, or another type of work authorization). If you need sponsorship now or in the future, look for this statement in the job description before you apply: “The Credit Union will consider sponsoring a new, qualified applicant for employment authorization for this position”. If this is not listed in the job description, we will not provide sponsorship for the candidate to work in the United States.