Washington Trust Bank · 17 hours ago
Credit Collection Specialist
Spokane, Washington, United States
Full-time
Hybrid
New Grad, Entry Level
$20.67/hr - $31.03/hrWashington Trust Bank is a financial institution seeking a Credit Collection Specialist to manage the collection of past due loans. The role involves contacting delinquent customers, recommending legal actions, and ensuring compliance with investor servicing requirements.
FinanceFinancial Services
Responsibilities
Contacts delinquent customers by phone and mail
Recommends legal action where appropriate
Meets deadlines with respect to investor requirements on delinquent RE loans
Works in the recovery of bad debt and charged off loans
Recommends loss mitigation procedures to prevent foreclosure, as appropriate
Recommends loans for charge down or charge off
Identifies problem loans for intervention
Begins loss mitigation procedures to prevent foreclosure
Submits request to investors for approval of Modifications, Deed in Lieu, & Short Sales in accordance with investor requirements and within established timelines
Has strong knowledge of bank loan documents and definitions and a clear understanding of default and the remedies available to cure
Adheres to required timelines for various notifications of default and trustee sale including breach letters, correct documents to attorney, close follow up with attorney for subsequent notices and trustee sale notification
Analyses and prepares process checklist including appraised value, past due taxes, other liens, and expenses to determine value and creditor’s bid at Trustee’s Sale
Assists in preparing monthly reporting to investors and mortgage insurers of the status of past due loans
Recommends loss mitigation efforts and/or re-structuring options
Has strong knowledge of loan documents and definitions and a clear understanding of default and the remedies available to cure
Assists in preparing monthly reports as to charge-off status and recoveries
Recommends loans for charge-off or charge-down
Qualification
Required
Ability to understand bankruptcy law, real estate law, and civil law
Ability to communicate effectively with attorneys as a knowledgeable creditor, serves as an informed advocate for the bank when dealing with attorneys for the bank and for the customer
Ability to understand basic legal terms and concepts
Ability to analyze appraisals
Be able to understand bank loan documents and legal terminology contained therein so that the rights of the bank are protected in legal matters
Knowledge of RCW laws and regulations as well as Federal Disclosure Requirements and the compliance requirements under the Fair Debt Collection Act
Ability to communicate effectively with customers both orally and written
Ability to analyze property appraisals and BPO's for accuracy with a clear understanding of appraisal terminology
Ability to work as a team player and work closely with collection staff
Regular, reliable attendance is required
Benefits
Health
Financial
Retirement
Work/Life Benefits
Company
Washington Trust Bank
Washington Trust Bank is an banking, money, advice, financial, wealth, and investment provider.
Founded in 1902
1001-5000 employees
H1B Sponsorship
Washington Trust 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)
Distribution of Different Job Fields Receiving Sponsorship
Represents job field similar to this job
Trends of Total Sponsorships
2020 (1)
Funding
Current Stage
Late StageLeadership Team
Jack Heath
Chief Executive Officer
Recent News
2025-11-05
2025-10-07
2025-08-27
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