Salary Range $27.00 - $36.10 Hourly

Level Experienced

Position Type Full Time

Category Banking

Description

Title: Loan Collections/Loan Operations Specialist

FLSA Status: Non-Exempt Employment Status: Full Time

Department: Loan Servicing Location: Headquarters /Hybrid Eligible

Reports To: VP Loan Servicing & Collections Manager

Date Prepared: February 19, 2026 Human Resources Review: February 25, 2026

SUMMARY:

Under the general direction of the VP Loan Servicing & Collections Manager, the Loan Collections/Loan Operations Specialist is responsible for performing collection activities on delinquent residential and consumer loans. Follows up on problem accounts from preliminary phone calls through foreclosure as necessary. Reviews delinquent accounts and directly contacts customer to resolve delinquencies. Utilizes various techniques as circumstances come up to resolve the delinquency by collecting funds, making financial arrangements, or discussing loss mitigation alternatives. As part of the loan servicing team, this position will provide support on other job functions within the Loan Operations area performing a variety of administrative duties in support of the Commercial, Residential and Consumer loan portfolio in accordance with bank procedures and regulatory policies.

Additionally, it is expected that this position will actively participate in initiatives that support the banks strategic plan while embracing the established sales and service culture to maximize their contribution to the bank's goals.

After successful completion of training and proven abilities, this position is eligible for a hybrid work arrangement with an agreed upon number of days per-month on site.

Consistent availability is expected during core business hours. Work outside of regular business hours requires approval on an as needed basis to meet deadlines and fulfil the needs of both internal and external customers.

ESSENTIAL DUTIES and RESPONSIBILITIES:

The requirements listed are representative of the knowledge, skill, and/or ability required.

In the performance of respective tasks and duties, the employee is expected to successfully perform quality work within deadlines with or without supervision, interact professionally with other employees, customers and suppliers; work effectively as a team contributor on all assignments and work independently while understanding the necessity for communicating and coordinating work efforts with other employees and organizations.

Collections:

Assumes responsibility for the effective and professional performance of collections' functions in accordance with policy and procedures and secondary market investor guidelines.

Follows up on delinquent reports and notices by telephone, personal contact, and prepares all required collection letters, Right to Cure/Demand notices to secure a satisfactory resolution to repayment.

Determines customers' ability to pay, obtain reason for delinquencies and works directly with Management towards permanent solutions to resolve delinquency e.g., deferrals, short term repayment plans, as well as formal loss mitigation plans, modifications, and liquidation options. Minimizes losses by early actions.

Discusses possible financial arrangements or loss mitigation alternatives to Manager

Continues collections activities until loan becomes a bankruptcy account, is referred for foreclosure and becomes an attorney account. Refers and reports accounts for legal actions to Manager.

Keeps Management and Watch Asset Committee informed of activities, progress attained toward established objectives, and of any significant problems.

Responsible for Delinquency Management, Default Prevention and Default Reporting related to FNMA and FHLMC guidelines and Fair Debit Collection Practices in accordance with investor guidelines as assigned

Monitors and tracks the activities of residential and consumer loans qualifying under the Servicemembers Civil Relief Act and the Military Lending Act

Documents and updates the Collection System while establishing tickler files of all collection actions taken, including telephone conversations.

Assumes responsibility of related duties as required or assigned such as credit disputes and delinquent tax tracking.

Recommends and prepares charged off and Total Debt Restructure (TDR) memo to Management Loan Committee and Executive Board and/or Board of Directors and performs required loan maintenance within the Bank's core system

Monitors and performs necessary maintenance on bank's core system for loans in Bankruptcy to ensure customer is in compliance with the bankruptcy plan and that the bank adheres to investor guidelines and timeframes.

Maintains property inspection records compliant with MGL requirements.

May perform and document physical drive-by inspections on delinquent borrowers and assist with monitoring of real estate tax delinquencies.

Loan Operations:

Perform basic Loan Operation tasks to support Loan Operations team members and acting as a back up to daily functions:

Following retention guidelines, ensure all documents associated with tasks are scanned/imaged and archived into the cold storage system and Encompass overseeing the integrity, quality, and location of the documents.

Quality Control performing various loan maintenance/transactions to Bank's core system related to Loan Operations Functions to include but not limited to: Loan Payments, Unapplied Funds, Payoff/Discharge, converting HELOC to repayment schedule and Autopay/ACH setup.

Reviews assigned daily reports against source documents resolving all discrepancies, ensuring the quality and integrity of information entered into the Bank's core system is accurate as established in policy and procedures.

Ensure assigned general ledgers accounts are balanced on time researching all out of balance situations and working with team to understand reasons why.

General:

Keep abreast of regulatory changes to ensure compliance in the areas of job responsibilities, and recommend improvements or changes as needed for compliance and/or for department efficiency

Effectively use tools and systems to be able to self-manage, organize, and complete work independently, proactively recognizing potential obstacles resolving them before they become an issue, managing to deadlines, creating action plans when not on track, enabling job functions to happen with minimal oversite and meeting conditions of satisfaction.

Readily volunteer and accept assignments to special tasks established to address specific issues and opportunities.

Use discretion in dealing with large amounts of sensitive, confidential information, while adhering to all Bank policies and procedures, consistently demonstrating our core values and service standards.

Regular and consistent attendance is required to continue the high standard of customer service.

In the performance of respective tasks and duties, the employee is expected to maintain knowledge of and ensure compliance with Bank Secrecy Act regulations and adheres to compliance procedures and internal/operational risk controls in accordance with all applicable regulatory standards, requirements and policies as well as attending all required training sessions and completing all required on-line training courses.

Other duties as assigned, performing similar or related work as directed, required, or as situation dictates.

LEVEL OF RESPONSIBILITY:

Work is analytical in nature and a mix of routine and non-routine responsibilities that are completed with a moderate amount of supervisor adhering to procedures described by bank, State and Federal policy and regulations.

This position interacts with other employees, customers and attorneys with complex and confidential information to investigate and resolve loan delinquencies.

The role is relied upon a subject matter expert within the organization to help assist our delinquent customers in satisfactory solutions

Position has an impact on the asset quality of the institution.

EQUIPMENT REQUIRED:

Smart Phone - To enable the MFA (Multi Factor Authentication) facilitating access to MSB systems .

HYBRID/REMOTE ENVIRONMENT:

Your physical remote location must provide a dedicated workspace that is free from distraction and provides adequate light to be regularly visible on video calls.

You must have access to a reliable internet connection with adequate bandwidth to join Teams and other video calls.

SKILLS REQUIRED:

High school diploma or equivalent with 5+ years' experience in consumer and/or mortgage collections in a financial institution preferred and/or an operational environment.

Knowledge of Fair Debt Collection Act, Fair Credit Reporting Act and other applicable collection laws

Solid understanding of the Federal and State Regulations Knowledge

Working knowledge of FNMA and FHLMC Default Management guidelines.

Understanding of investor delinquent reporting requirements, policies, and procedures

Solid understanding of court related procedure

Understanding of collection processes and compliance

Solid understanding of Bankruptcy and Charge off processes and procedures

Good working knowledge of Data Processing Systems required (FIS preferred)

Proficient in Microsoft Office Suite products, Outlook, and the Internet

Ability to multi- task, organize, work independently, accomplish tasks, and meet deadlines despite frequent interruptions in a fast-paced environment while maintaining attention to detail.

A curious mindset that allows you to constantly learn and challenge the status quo.

Solid understanding and application of administration activities with an understanding of office procedures and ability to operate standard office equipment.

To maximize the ability to reach customers, this position requires flexibility in work scheduling.

COMPETANCIES:

Critical thinker who can digest complex problems, articulate risks and mitigating factors, navigate situations involving the need for trade-offs, and recommend solutions which meet the needs of all stakeholders

Highly detailed, organized and professional

Strong problems solving abilities and superior follow up skills

Ability to multi-task, prioritize and organize.

Strong communication and relationship builder

Demonstrated success in using constructive negotiation and persuasive communication to efficiently address and resolve delinquency issues.

Remain professional, patient, and resilient during difficult interactions.

Demonstrated capability to establish trust, assess issues, develop effective solutions, and uphold a positive and responsive approach in verbal, video, and written communications with debtors and stakeholders.

LANGUAGE/COGNITIVE SKILLS:

The work skills described here are representative of those that must be met by an employee to successfully perform the essential functions of this job.

The person in this position frequently communicates with customers, about banking products and services, and therefore must be able to exchange accurate information in these cases. They will need to, use judgment and discretion in decision making situations, interpret and follow all Bank policies and procedures, (Main Street Bank's standard language is English). As well as the ability to:

Speak and effectively present/communicate information and respond to questions from customers, groups of managers, vendors, and other employees.

Define problems, collect data, establish facts, and draw valid conclusions.

Read, analyze and interpret a variety of loan or collection related documents such as Notes for Right of Off set, Bankruptcy Notices, industry news and trends and Bank policies and procedures.

WORKING CONDITIONS AND PHYSICAL EFFORT: The physical and work environment demands described here are representative of those that must be met by an employee to successfully perform the essential functions of this job.

While performing the duties of this job, the employee is required to:

Physical Demands/Efforts

Occasionally lift and/or move up to 15 pounds, (i.e., files)

Regularly required to remain in a stationary position, greater than 75% of the time

Occasionally required to stoop and bend.

Mental & Visual Demands

Consistently operate a computer for extended periods of time

Specific vision abilities may be required by this job include close vision, distance vision, peripheral vision, depth perception, and ability to adjust focus.

Regular use of office productivity machinery (i.e., a calculator, copy machine, fax machine, computer printer).

Work Environment and Hazards

Occasionally move throughout the inside the Bank to access resources and individuals.

Occasional local travel for bank purposes and/or on behalf of the bank (i.e., meetings, networking, training).

The employee must be able to work schedules that meet the needs of the bank, which may include early morning, evening and/or weekend hours.

When working in the office it is a general office environment where the noise level is moderate.

AMERICANS WITH DISABILITIES ACT

Main Street Bank complies with all aspects of the Americans with Disabilities Act (ADA) and state disability laws. This means that we will not discriminate against qualified individuals with a disability in any phase of the employment relationship including application for employment, hiring, promotions and/or advancement opportunities, termination, compensation, training and any other conditions or privileges of employment.

Statements included in this description are intended to reflect in general the duties and responsibilities of this classification and are not to be interpreted as being all inclusive , other duties may be assigned. To perform this job successfully, an individual must be able to perform each essential duty satisfactorily. The requirements listed are representative of the knowledge, skill, and/or ability required. Reasonable accommodations may be made to enable individuals with disabilities to perform the essential functions, unless the accommodation would impose an undue hardship on the operation of our business.

Main Street Bank is an Equal Opportunity Employer , we are committed to recruiting, hiring, training, and promoting persons without regard to race, color, religion, national origin, citizenship, age, sex, marital status, ancestry, physical or mental disability, veteran status, sexual orientation, military service, genetic information, and gender identity.

Applicant Notice

The completion of this Application for Employment does not assure a position with Main Street Bank and any offer of employment is conditioned on the satisfactory completion of a background and credit review as determined by the sole discretion of Main Street Bank. Neither this Application for Employment nor any document constitutes a contract of employment for a specific term and that any employment relationship that may be established will be 'at-will' and if hired, may be terminated at any time, for any reason, by the applicant or Main Street Bank.

Massachusetts Law - It is unlawful in Massachusetts to require or administer a lie detector test as a condition of employment or continued employment. An employer who violates this law shall be subject to criminal penalties and civil liability.

Massachusetts General Laws c. 151B prohibits employers from (1) terminating or refusing to hire individuals on the basis of genetic information; (2) requesting genetic information concerning employees, applicants, or their family members; (3) attempting to induce individuals to undergo genetic tests or otherwise disclose genetic information; (4) using genetic information in any way that affects the terms and conditions of an individual's employment; or (5) seeking, receiving or maintaining genetic information for any non-medical purpose.

Main Street Bank is an Equal Opportunity Employer, we are committed to recruiting, hiring, training, and promoting persons without regard to race, color, religion, national origin, citizenship, age, sex, marital status, ancestry, physical or mental disability, veteran status, sexual orientation, military service, genetic information, and gender identity

Main Street Bank

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