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VyStar Credit Union · 19 hours ago

Consumer Loan Modification Specialist

Jacksonville, FL - 100 W Bay St

Full-time

Hybrid

Mid Level

3+ years exp

VyStar Credit Union is seeking a Consumer Loan Modification Specialist to process loan modification requests from members facing financial challenges. The role involves reviewing documentation, communicating decisions, and ensuring compliance with regulations while collaborating with the Collections Operations team.

AppsBankingFinanceMortgage

Responsibilities

Reviews incoming consumer loan modification requests and accompanying documentation for completeness. Incumbent must possess an astute attention to detail and follow-up at all times to ensure accuracy and timeliness of all documents pertaining to consumer loan modification and trouble debt restructure (TDRs) requests

Requests additional documentation required from member to complete the consumer loan modification process

Pulls and reviews credit report to ensure the accurate calculation of debt to income ratios

Verifies that NADA values are accurate on secured loans

Prepares required modification worksheets and makes a recommendation for management consideration and Sr. Consumer Loan Modification Coordinator

Communicates final consumer loan modification decision to the member, including terms and conditions of modification approval or reasons for modification declination

Completes documents and coordinates with member as to time and location of execution of documents needed for modification

Prepares consumer loan modification documentation and places the modification package in the appropriate branch folder in Laserfiche

Prepares and sends notice of adverse action for disapproved consumer loan modification requests

Completes quality assurance review of completed modification documentation and takes appropriate steps to correct any errors notated during the review process

Completes the core system loan changes required to ensure loan is serviced in conjunction with the terms and conditions of consumer loan modification

Notates special payment plans such as reages and reduced payment plans in the collections system. Follow up to ensure payments are being made as per arrangements and review to ensure proper follow up by collector

Cross-trained to work the collection system queues to ensure each delinquent account has been followed for activity and account is accurately documented in the core collections systems

Cross-sells other credit union services

Counsels member and provides alternative recommendations should their request be denied

Performs the activities and projects as assigned and requested by the Consumer Loan Modification Coordinator, Collections Operations Supervisor, Collections Operations Manager and Vice President of Lending Service Operations

Identify and make recommendations to Sr. Consumer Loan Modification Coordinator, Collections Operations Supervisor, Collection Operations Manager and Vice President of Lending Service Operations regarding process improvements, quality service and increased efficiencies

Performs other duties as assigned

All employees and business units, as first line of defense, are expected to proactively help identify, assess, manage, and report risks within their domain of work. To enhance a healthy risk culture and support our growth for good pillar, employees will maintain vigilance in safeguarding our operations while ensuring compliance with regulatory mandates. The Risk team serves as the second line of defense by providing risk oversight and credible challenge whereas the Audit team serves as the third line of defense by providing risk assurance

Qualification

Consumer loan processingRegulationsCommunication skillsMicrosoft OfficeCredit union softwareAttention to detailOrganizational skillsActive listeningSelf-motivated

Required

A minimum of three years experience in consumer loan processing and/or consumer loan collections within a financial environment is required

Knowledge of Federal and State regulations related to consumer lending such as the Equal Credit Opportunity Act, Truth in Lending Act, as well as the regulations related to collection activities such as the Fair Credit Reporting Act, Fair Debt Collections Practice Act (FDCPA), and Federal Bankruptcy Laws

Applicant must exhibit and demonstrate positive, well-developed communication skills, both written and verbal, be detail oriented, have excellent organizational and active listening skills, the ability to work in a fast paced environment, and proven ability to work with others at all levels

Must have professional conduct and appearance at all times and be self-motivated

Must work under the philosophy of 'people helping people' and be able to communicate with members and legal council at all levels

Applicants must demonstrate the qualities of a self-starter and one who follows through on all job duties

Equipment to be used in the daily performance of job duties include HP calculator, PC, and multi-function equipment (fax, scanner, and copier) is required

Knowledge of all Microsoft Office applications and credit union software and/or core operating systems pertinent to completing various tasks and responsibilities of the position is required

The minimum formal education required is completion of high school

Incumbent must be knowledgeable of Federal and State regulations governing collections and loan consumer modification documentation

Continuing education via local conferences and workshops is required for updates on federal and state regulations, as necessary