Sr. Loss Mitigation Specialist

The Sr. Loss Mitigation Specialist focuses on legal recovery and is responsible for various activities designed to facilitate delinquency resolution and the mitigation of risk/loss to the credit union. This includes handling credit union collection issues that require the use of outside counsel, including, but not limited to foreclosure, replevin and obtain judgment against delinquent or charged-off member accounts. Additionally, the role will review, and make recommendations to management on member requests for short sales and deed-in-lieu of foreclosures.

Review notice from senior lienholders, tax authorities, or other entities of a pending foreclosure. Takes necessary steps to determine value of the property and balances owed by other lienholders to make informed decision on course of action.
• Orders, reviews and assesses Broker Price Opinions (BPO) and appraisals on loans in foreclosure.
• Following approval by management, reviews document package to ensure all necessary steps have been completed before initiating foreclosure action.
• Engages outside legal counsel to represent the credit union in any foreclosure proceeding. Consistently monitor counsel progress to ensure the foreclosure is progressing timely and all compliance requirements are met.
• Prepares bidding instructions.
• Assist collection staff and managment in reviewing delinquent home equity loans for foreclosure. Once approved, manages the loan through the foreclosure, REO, and sale processes.
• Utilizing the collection system and core processing system, ensures account records are thoroughly updated and documented. Submits any documentation for imaging.
• Ensures all procedures are followed throughout the foreclosure and short sale processes.
• Examines and negotiates real estate transactions, either through a short sale or a REO property. Monitors the sale process for timeliness, compliance and accuracy. Ensures REO property is properly secured and maintained via relationships with real estate sales agents or REO management companies.
• Approve, monitor and review legal action against delinquent or charged-off credit union member loans.
• Responds to any attorney requests for information or documentation on loans referred by the credit union for legal processing. Acts as a credit union witness, as required, during legal proceedings.
• Receive and process according to credit union guidelines, all invoices on REO, legal and foreclosure accounts. Monitor payments received from legal counsel.
• Back-up and provide assistance to other department peers, on an as needed basis.

Education and Experience Requirements:

• High School diploma.
  Five (5) + years in loss mitigation, foreclosure, or similar experience required.

Required Knowledge, Skills and Abilities:

• Ability to handle personal and sensitive member issues with tact, courtesy and empathy.
• Ability to work with internal partners to create efficiencies and provide superior service to our members.
• Knowledge of Fair Debt Collection Practices Act, SCRA, TCPA, FCRA, and CFBP mortgage servicing rules.
• Strong knowledge of Kansas and Missouri foreclosure requirements.
• Knowledge of credit union services and products.
• Ability to self-initiate areas of opportunity, make recommendations for improvement, and follow up as necessary to achieve desired results.
• Must be organized and detail oriented.
• Ability to multi-task.
• Able to function and thrive in a high-volume production environment.
• Able to work effectively individually and within a team environment.
• Ability to resolve interpersonal conflict and miscommunications.
• Must have good verbal and written communication skills.
• Ability to maintain a high level of confidentiality.