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Cathay Bank · 2 days ago

Mortgage Loss Mitigation Team Lead

El Monte, CA, USA

Full-time

Onsite

Mid, Senior Level

$33.65/hr - $43.27/hr

3+ years exp

Cathay Bank is a financial institution that values its team members and fosters growth and development. They are seeking a Mortgage Loss Mitigation Team Lead responsible for managing foreclosure, bankruptcy, and litigation activities while providing guidance to team members and ensuring compliance with regulations.

BankingFinanceFinancial Services

H1B Sponsor Likely

Responsibilities

Manage late-stage delinquent loan inbound, outbound, and follow-up calls with borrowers to ensure quick and effective solutions are provided to each borrower

Counsel and guide customers to achieve workout alternates based on their circumstances

Comply with the FDCPA and other local and federal regulations

Adhere to Cathay Bank’s policies and procedures

Review Borrower Response Packages for assistance to determine if they are complete and perform pre-underwritten review of documents provided

Contact delinquent borrowers to review approved loss mitigation options as well as preparation of letters for approval, missing documents, and notice of action taken

Collaborate with the manager on recommended pre-foreclosure reviews as well as participate in monthly management meetings

Prepare foreclosure files for set-up on the core collection system

Provide attorney with accurate foreclosure figures, including reinstatement figures which will be provided to external parties by the attorney. In addition, provide the attorney with accurately executed documents as requested

Responsible for bankruptcy filing reviews, preparing transmittals to attorneys, and servicing or further legal actions

Assist with training new hires, as needed

Assist in processing successor in interest, short sales, seed in lieu, or any other legal issues

Prepare monthly reporting, including delinquency, foreclosure, bankruptcy and other activities

Assist in preparation of risk rating and accrual recommendations

Provide assistance and guidance to Mortgage Loss Mitigation Team members

Meet department standards as they relate to daily productivity metrics

Performs additional projects and duties as assigned by management

Qualification

Mortgage loss mitigationForeclosure processingBankruptcy processingDebt collectionsFinancial statement analysisMicrosoft ExcelAnalytical skillsBilingual English/ChineseProblem-solving skillsCommunication skillsTeamwork

Required

High school diploma or equivalent

3-year experience in mortgage loss mitigation, foreclosure, and bankruptcy processing

Understanding of debt collections in any stage of delinquency

Familiarity with financial statements, tax returns, credit reports, home appraisals, title searches and other documents used to evaluate a pre-foreclosure remedy

Strong analytical, problem solving and mathematical skills

Proficient in Microsoft Word, Outlook, Access and Excel with a minimum level of Intermediate

Strong organizing and problem-solving skills

Good written and verbal communication skills

Must be able to adapt well in a fast-paced and constantly changing business environment

PC proficiency

Demonstrated ability to work in a team-oriented environment and provide good customer service

Preferred

Bilingual English/Chinese is a plus

Benefits

Medical insurance

Dental insurance

Vision insurance

Life insurance

Long-term disability insurance

Flexible spending accounts (FSAs)

Health saving account (HSA) with company contributions

Voluntary coverages

401(k)

Company

Cathay Bank

Glassdoor3.1

Cathay Bank is a financial services company originally founded to support Los Angeles’ growing Chinese American community. It is a sub-organization of Cathay General Bancorp.

Founded in 1962

El Monte, California, USA

1001-5000 employees

https://www.cathaybank.com/

H1B Sponsorship

Cathay Bank has a track record of offering H1B sponsorships. Please note that this does not guarantee sponsorship for this specific role. Below presents additional info for your reference. (Data Powered by US Department of Labor)

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2020 (1)