Loss Mitigation Specialist

The Loss Mitigation Specialist is responsible for preserving the bank's assets by mitigating loan losses by effectively and efficiently collecting the debt.

Communicate with delinquent borrowers as required by the Bank's Collection and Loss Mitigation policy.
• Maintain detailed records of all communications with borrowers, attorneys, and other stakeholders.
• Request property searches and obtain updated credit reports and collateral valuations to determine the Bank's risk and anticipated losses.
• Review the borrower's sources of repayment, other obligations, and liquidity to develop a recommendation to mitigate losses.
• Follow up with borrowers regarding payment arrangements, forbearance agreements, and other loss mitigation plans.
• Complete required reports for Chief Credit Officer and Board Loan committee.

Education and Experience

• High School Diploma or GED required.
• Minimum two years of accomplishment in a field similar or related to mortgage loss mitigation, advanced collections, and/or asset management
• Experience with DNA Core system a plus

Skills and Competencies

• Strong knowledge of Fair Debt Collection Practices Act.
• Superior customer service skills.
• Excellent problem solving skills.
• Ability to use good judgment to make quick decisions within written policy and standard operating procedures.
• Excellent written and verbal communication skills.
• Excellent organizational and time management skills.
• Strong computer skills with knowledge of Microsoft Office.
• Experience in analyzing complex financial statements and tax returns.
• Knowledge of work out / collections best practices.
• Knowledge of collateral valuation methods.
• Excellent analytical ability.
• Knowledge of collecting loans serviced for others.