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Kirtland Credit Union · 1 month ago

Mortgage Loss Mitigation Specialist

Albuquerque, NM, US

Full-time

Onsite

Mid Level

3+ years exp

Kirtland Credit Union is a financial institution focused on employee growth and a vibrant work environment. They are seeking a Mortgage Loss Mitigation Specialist responsible for contacting borrowers with delinquent loans, evaluating loan relief programs, and facilitating the resolution of troubled real estate loans.

Banking

Responsibilities

Responsible for contacting consumer borrowers with delinquent loans to collect payments to bring loans current, with a focus on real estate secured loans

Understand and evaluate suitability for potential loan relief programs as applicable and inform borrowers and successors-in-interest about same, as well as potential or active loss mitigation activities, particularly those related to delinquent or otherwise at-risk home-secured loans

Interact with credit union members, co-workers, legal counsel, fiduciaries, auditors, agencies and others as appropriate to facilitate resolution of troubled real estate loans

Perform certain required mortgage servicing for investor-held mortgages and report to third parties as applicable, including the VA, FHA, Fannie Mae and Ginnie Mae

Support and refine creation, tracking, and analysis of data related to delinquent home-secured loans

Coordinate activities related to assessing and protecting troubled real estate assets, including in foreclosure and REO situations

Support the credit union’s mission, vision, strategic goals, quality initiatives and service standards

Ensures sufficient contact attempts are made to borrowers or successors-in-interest with delinquent loans

Determines the best course of action, consistent with Account Resolution Department standards, to facilitate the collection of payments from borrowers or successors-in-interest with delinquent loans

Conducts collection efforts politely and diplomatically but with persistence and persuasiveness

Solicits information about the reasons for delinquency to evaluate potentially suitable loss mitigation programs

Processes loan payments, ensuring accurate recording and accounting across applicable systems; generates pay off statements as requested

Understands and maintains current working knowledge of all applicable federal and state consumer credit collection and mortgage servicing laws and regulations, i.e., Fair Debt Collection Practices Act, Fair Credit Reporting Act, the Garn-St. Germaine Act, the Truth in Lending Act, and the Uniform Commercial Code as adopted in applicable states, as well as bankruptcy law

Assumes responsibility for the effective administration of delinquent or otherwise troubled real estate loans and coordinates functions related to foreclosed properties

In conjunction with management staff, evaluates and responds to requests from borrowers or successors-in-interest for debt relief, restructuring, or potential assumption when hardship or change in ownership is identified

Provides appropriate financial counseling, collects financial information and/or legal documentation to assess and evaluate appropriate actions, and, as applicable, recommends plans in the best interest of the borrowers or successors-in-interest, as well as the Credit Union and investors

Works with borrowers, successors-in-interest, and other parties to facilitate resolution of troubled real estate loans and the underlying collateral, including foreclosures, short sales, deed-in-lieu situations, and REO sales

Ensures the protection and preservation of foreclosed properties

In collaboration with management, coordinates inspections and approval of repairs of properties

Maintains inspection reporting with findings

Coordinates with management to document, track, and report on loss mitigation activities involving troubled real estate

Collaborates with management staff to ensure data accuracy, refine collections platform data capture and tracking, and develop pertinent reporting and analysis

As appropriate, recommends adjustments to internal reporting and analysis related to home-secured loans

Maintains a current understanding of, and submitting, reporting as required to the VA, FHA, Fannie Mae and Ginnie Mae for certain mortgages serviced by the Credit Union

Responds to various requests for information on loss mitigation/asset recovery activities

Assumes responsibility for related duties as required and other duties as assigned

Keeps Management informed of branch operational/sales activities and of any significant problems

Qualification

Mortgage servicingConsumer mortgage collectionForeclosure practicesFederalState lawsCommunication skillsMulti-taskingMicrosoft proficiencyPC operationInterpersonal skillsProblem solving

Required

A two-year college degree (associate's degree in business or finance) is required

Three to five years of recent experience servicing mortgages in delinquency

Thorough knowledge of consumer mortgage collection and foreclosure practices and applicable legal requirements

Excellent communication and interpersonal skills

Ability to work well with borrowers, colleagues, and third parties

Able to work successfully in stressful situations

Maintain professional appearance and conduct

Multi-task oriented

Problem solving abilities

Ability to operate a PC

Ability to stand and sit for 8-hour shifts

Ability to work in an office/cubical environment

Preferred

Bachelor's degree in business, finance, or related field preferred

At least two years of servicing investor-held mortgages preferred

Working knowledge of all applicable federal and state consumer credit collection and mortgage servicing laws and regulations, i.e., Fair Debt Collection Practices Act, Fair Credit Reporting Act, the Garn-St. Germaine Act, the Truth in Lending Act, and the Uniform Commercial Code as adopted in applicable states, as well as bankruptcy law, preferred