Meritrust Credit Union · 14 hours ago
Loss Mitigation Specialist
Wichita, KS
Full-time
Onsite
Mid Level
$26/hr - $32/hrMeritrust Credit Union is committed to creating a diverse and inclusive culture. The Loss Mitigation Specialist is responsible for managing delinquent real estate-secured loans and commercial accounts, working directly with members to assess financial hardships and provide solutions while ensuring compliance with policies and regulations.
Banking
Responsibilities
Contact members with delinquent real estate loans to assess financial situations and determine appropriate loss mitigation options
Review and process loan modification, forbearance, and repayment plan applications
Collaborate with legal counsel, foreclosure attorneys, and third-party vendors to manage foreclosure timelines and ensure compliance
Maintain accurate records of member communications, decisions, and loan status updates
Analyze financial documents including income statements, tax returns, and credit reports to determine eligibility for assistance
Recommend appropriate action for non-performing loans, including foreclosure or short sale
Order property inspections and broker price opinions (BPOs) as needed to support accurate property valuation and decision-making
Work with real estate agents, property preservation companies, and other vendors to coordinate property marketing, maintenance, and liquidation efforts
Ensure compliance with federal and state regulations
Participate in audits and provide documentation as needed
Support continuous improvement of loss mitigation processes and systems, maintaining and updating policies/procedures
Support investor-specific loss mitigation programs and reporting requirements for Freddie Mac, Fannie Mae, and other servicing vendors
Stay current on investor guidelines and participate in training or updates related to Freddie Mac, Fannie Mae, and other investor servicing protocols. And updating policies/procedures accordingly
Provide regular updates to management regarding high-risk accounts, delinquency trends, and loss mitigation outcomes
Prepare and present reports to management summarizing portfolio performance and loss mitigation activities
Participate in scheduled meetings with Business Banking and other internal stakeholders to support coordinated member service and risk management efforts
Attend regular interdepartmental meetings to share updates, discuss trends, and support cross-functional initiatives
Contact members with delinquent commercial loans to assess financial situations and determine appropriate loss mitigation options
Assist with consumer loss mitigation, as needed
Additional responsibilities may be assigned as needed to support departmental goals
Qualification
Required
Experience managing delinquent real estate-secured loans, including mortgages and home equity lines of credit
Experience managing delinquent commercial accounts, including unsecured loans and credit cards
Ability to assess financial hardship and provide counseling to members
Knowledge of loan modifications, forbearance, and repayment plans
Experience ensuring compliance with internal policies and regulatory requirements
Ability to maintain accurate records of member communications, decisions, and loan status updates
Experience analyzing financial documents including income statements, tax returns, and credit reports
Ability to recommend appropriate action for non-performing loans, including foreclosure or short sale
Experience ordering property inspections and broker price opinions (BPOs)
Ability to work with real estate agents, property preservation companies, and other vendors
Knowledge of federal and state regulations related to loss mitigation
Experience participating in audits and providing documentation
Ability to support continuous improvement of loss mitigation processes and systems
Experience with investor-specific loss mitigation programs and reporting requirements for Freddie Mac, Fannie Mae, and other servicing vendors
Ability to stay current on investor guidelines and participate in training or updates
Experience providing regular updates to management regarding high-risk accounts and delinquency trends
Ability to prepare and present reports to management summarizing portfolio performance and loss mitigation activities
Experience participating in scheduled meetings with internal stakeholders
Ability to assist with consumer loss mitigation as needed
Benefits
Comprehensive medical insurance plan
Dental and vision insurance
Generous paid-time-off
12 paid holidays
401(k) plan
Wellness program
Tuition assistance
Employee loan discount
Employee Assistance Program (EAP)
Life and disability coverage
Company
Meritrust Credit Union
Meritrust Credit Union offers loans, insurance, financial education, digital banking, and other services.
Founded in 1935
201-500 employees
Funding
Current Stage
Growth StageLeadership Team
James Nastars
President/CEO
Jess Howard
VP, Chief Financial Officer
Recent News
2025-11-02
2025-11-01
Company data provided by crunchbase