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Mortgage Loan Solutions Specialist
Location: Member Solutions Department / Denver, CO
Job Code: 203
# of Openings: 1
Hours: Monday - Friday: 8 a.m. - 5:30 p.m. Saturdays: 9 a.m. - 1 p.m.
Days: Monday, Tuesday, Wednesday, Thursday, Friday, Saturday
Pay Range: $43,700 - $61,100
Under the direction of the Member Solutions Manager, contacts and counsels members whose Mortgage loan accounts are past due. Analyzes loans to determine course of action, minimizing the loss to the credit union. Safeguards the assets of the credit union by using appropriate legal and regulatory procedures. Makes arrangements for the liquidation of balances through payments, collection agencies, loan modifications, settlements, workout loans, short sale or foreclosure. This position requires attention to detail with a high level of professionalism and communication skills.
Coordinates collection efforts with credit unions’ sub-servicing company. Contacts member in person for payment and conducts physical property inspections when feasible. Performs or makes arranges for physical inspection of properties in outlying areas with qualified 3 rd party. Negotiates with real estate agents and attorneys on property disposition. Seeks resolution of complex issues regarding real estate loans. Determines collectability and risk exposure to the credit union and advises management.
Representative must have extensive knowledge in all areas of mortgage lending, collections, and credit union operations.
ESSENTIAL DUTIES AND RESPONSIBILITIES include the following.
- Responsible for contacting members on delinquent mortgage loan accounts. Interviews and communicates with members (on the telephone, in person and in writing) to coordinate payment schedules. Arranges for payments and enters information into collection notes according to Collection Policy and Guidelines.
- Performs financial counseling (remedial, preventative and productive) and interviews members to provide resolution to financial situations. Identifies the probability of payments, risk exposure and potential loss to the credit union. Refers member to credit union third party financial counseling service when appropriate.
- Analyzes insurance coverage and documentation on delinquent mortgage loans. Interfaces with insurance agents to provide policy information.
- Analyzes mortgage file for compliant documentation prior to initiating collection efforts and legal action.
- Serves as a point of contact and subject matter expert for delinquent mortgages serviced by credit union’s mortgage servicing company.
- Interfaces with members and employees to research and resolve issues on delinquent mortgage loans.
- Assesses file for possible legal action and makes recommendations to management.
- Performs in-person inspection of potential foreclosed property. Makes arrangements to secure property if vacant. Obtains photos and assesses property condition. Makes recommendations to management regarding value and needed maintenance to protect property.
- Interviews member in person to discuss their intent on delinquent mortgage when feasible. Contacts neighbors if necessary.
- Coordinates servicing on potential foreclosed property, determines when collections on delinquent accounts should be brought in house.
- Monitors collection activity of the servicing company.
- Negotiates settlements on prior judgments and or subordinate liens and makes recommendations to management regarding deed-in-lieu of foreclosure.
- Negotiates with realtors, attorneys, and members on property in a short -sale.
- Researches and responds to lawful authorities, attorneys, management, employees, and members regarding foreclosures.
- . Review and recommend delinquent accounts for modification, foreclosure, deed-in-lieu of foreclosure, short sale and charge-off.
- Ability to effectively utilize AVM real estate software, property assessments, and appraisals to determine property values.
- Performs annual risk analyses of credit union business loan (rental properties) portfolio and reports findings to Director of Consumer Lending
- Analyzes escrow accounts for payment of property insurance, flood insurance and taxes
- Researches county property tax records and verifies payment status.
- Must be able to communicate with atorneys and other vendors
- Extensive knowledge of bankruptcy laws and processes. Negotiates with debtors and debtor's attorney regarding property included in bankruptcy.
- Assist in reviewing and updating credit union policies and procedures.
- Adheres to all Federal and State laws and regulations applicable to the credit union.Adheres to internal policies and procedures including NCUA guidelines
- Optimizes collections on accounts while balancing the goodwill of members with the overall business interests of the credit union.
- Provides excellent service by demonstrating courtesy and personal concern for members and co-workers needs and follows up to ensure those needs are met.
EDUCATION and/or EXPERIENCE:
Minimum requirements: 3-5 years collections experience, with at least two years of mortgage collections experience. Experience with foreclosures preferred. . Bachelor’s degree (B.A.) from four-year college or university; or two to four years related collection/real estate/bankruptcy experience, and/or training; or equivalent combination of education and experience .
COMPETENCIES and SKILLS
MEMBER FOCUSED Seeks and used first-hand member information to improve products and services; Acts with the member in mind. Is never satisfied; always thinks continuous improvement.
TEAMWORK Can inspire and motivate entire units or organizations. Blends people into teams when needed and leverages individuals’ strengths. Can be counted on to exceed goals successfully.
DECISION QUALITY Conveys a sense of urgency for arriving at a decision, when appropriate. Has an opinion, and takes a stand with the ability to build upon others ideas and facts to form a better decision.
PROBLEM SOLVING Strong problem solving and organizational skills. Must be able to work independently and in teams to resolve issues and solve problems. Seeks opportunities for different and innovative approaches to addressing problems while prioritizing urgent issues. . Challenges and supports decisions of direct reports through coaching to the best outcome.
ACTION ORIENTED Overcomes procrastination through execution. Places a top priority on getting results.
ADAPTABLE Embraces and drives change. Assists others through transitioning to new state. Is self-aware of areas of opportunity and strengths.
STRATEGIC AGILITY Thinks/plans strategically. Understands the organization’s vision, mission, and goals and can articulate to others. Defines/owns vision/purpose and aligns ideas to inspire others to follow. Looks to the future and adjusts strategic actions and goals based on anticipated future state .
LEADING Strong analytical, communication and people management skills. Makes decisions and acts in ways consistent with our core values; Demonstrates
COURAGEOUSLY the courage to do what is right despite personal risk or discomfort. Challenges others to
THROUGH make tough choices. Communicates a compelling and inspired vision or sense
VISION AND VALUES of core purpose and makes the vision sharable by everyone.