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REV Federal Credit Union · 1 day ago

Asset Recovery Specialist

Summerville, South Carolina, United States

Full-time

Onsite

Entry Level

2+ years exp

REV Federal Credit Union is focused on managing the repossession, foreclosure, and liquidation of collateral securing loans. The Asset Recovery Specialist will be responsible for maximizing the value of the credit union's secured portfolio through various recovery processes.

FinanceFinancial ServicesNon Profit

Responsibilities

Assigning agents to repossess past due non-real estate collateral approved for repossession

Handling the repossession of collateral either directly or with assistance of various agencies or attorneys and works closely with repossession agents and other outside vendors to assure timely pick up of past due collateral and other related services

Working within state laws to obtain proper title paperwork for transferring ownership of repossessed collateral

Monitoring all repossessed collateral for expired redemption period

Monitoring repossessed inventory and coordinates all auction sales with local and out of town / state auction sites

Filing all related damage or repossession claims to assure the maximum amount and reduce the overall charge-off amount

Preparing all notices of default as per the mortgage or deed of trust

Evaluating and examine all information to insure proper documents were sent to the member prior to foreclosure proceedings

Completing foreclosure, Claim and Delivery package and send to the appropriate attorney

Diligently reviewing loans assigned to legal counsel to ensure that the process is being completed efficiently so that it is completed within the allowable state timelines

Calculating and preparing all bidding information

Reviewing legal documents/affidavits prepared by counsel for accuracy

Working with members to mitigate losses when applicable. Refers accounts to management as needed for loss mitigation options

Keeping complete records on all charges related to foreclosure, repossessions (i.e. transportation costs, gasoline, repairs, etc.) Claim & Delivery in proper general ledger accounts. Process all department expense invoices for payment and balance corresponding GL accounts

Managing posting of sale information and managing and coordinating all required post sale transactions

Completing all tasks regarding Bankruptcy including posting checks, filing proof of claim, processing trustee payment and attorney follow up when payments are not received/additional assistance needed

Assisting small claims specialist with negotiating repayment plans regarding charged off/repossessed vehicles, skip tracing and processing of confession of judgments on deficiency balances

Filing all reimbursement claims (i.e. Direct Drive, Allied, SKIP/Repossession, gap, warranty, PMI)