Loss Mitigation Specialist I

BANTERRA CORP • Marion, IL • 4h ago

This job was posted by https://illinoisjoblink.illinois.gov : For more information, please see: https://illinoisjoblink.illinois.gov/jobs/13516026

SUMMARY

The Loss Mitigation Specialist I is responsible for initiating and directing the remediation of defaulted accounts, monitoring past-due accounts, and providing management with detailed reports.

The ideal candidate for this role is detail-oriented, proactive, and possesses strong analytical and communication skills. Experience or coursework in finance or banking is highly beneficial.

This role supports the company\'s financial health, helping recover overdue payments and maintain client relationships, contributing to the organization\'s stability and growth.

All employees are expected to protect the information and assets of the organization through heightened awareness of information security, cybersecurity, and risk management best practices, as well as complying with all applicable laws, regulations, and organizational policies.

ESSENTIAL DUTIES

Process recovery payments as authorized to include assisting

customers and branch staff with telephone payments and payments on certain accounts.

Perform loan remediation, follow-up, crediting returned checks/ACHs

taken in payment, and foreclosure procedures.

Regularly contact delinquent loan accounts in order to discuss their

account status and to work out a payment arrangement suitable to the Bank and the customer. Record all contacts in the Banks automated remediation system.

Ensure that remediation and collection activities comply with

regulatory standards.

Report current and closed loans to inquiring organizations, ensuring

that the information is accurate and comply with applicable fair credit reporting regulations.

Prepare default notices including the preparation and filing of FHA,

VA, and PMI claims on defaulted loans.

Distribute and sort mail, code recovery checks, code legal and

recovery invoices, and billing.

Generate and send various customer facing communications regarding

account activity.

Maintain regular contact with all lending units of the Bank, as well

as with credit bureaus and other financial organizations.

Obtain and exchange information with credit bureaus and various

mortgage insurance agencies.

Assume responsibility for additional projects and tasks as assigned.

EDUCATION & CERTIFICATIONS

Highschool diploma or equivalent required.

MINIMUM REQUIREMENTS

Excellent communication skills and the ability to communicate

effectively, verbally and in writing, with internal and external customers at all levels.

Ability to interpret various ratios and relationships inherent in

common or specialized financial and data-driven reports.

Ability to complete standard calculations and apply basic

mathematical concepts in practical situations.

A positive and proactive approach to work, demonstrating enthusiasm,

adaptability, and the ability to maintain composure and professionalism in stressful or adverse conditions.

Proficient computer literacy, including comfort with Microsoft

systems and Office Suite.

Intermediate typing skills to meet the needs of this position.

Current drivers license and reliable transportation with appropriate

insurance coverage; additionally, the ability to drive occasionally in the course of performing assigned duties and responsibilities.

The ability to work with minimal or no supervision.

ADDITIONAL QUALIFICATIONS

Experience and/or coursework in Accounting, Finance, Business, or a

related field preferred.

PHYSICAL DEMANDS AND WORK ENVIRONMENT

The physical demands described here are representative of those that must be met by an employee to successfully perform the essential functions of this position. Reasonable accommodations may be made to enable individuals with disabilities to perform the functions.

While performing the duties of this position, the employee is regularly required to talk or hear. The employee frequently is required to use hands or fingers; handle or feel objects, tools, or controls. The employee is occasionally required to stand; walk; sit; and reach with hands and arms. The employee must occasionally lift and/or move up to 25 pounds. Specific vision abilities required by this position include close vision, distance vision, and the ability to adjust focus. The noise level in the work environment is usually low to moderate.

NOTE

This job description in no way states or implies that these are the only duties to be performed by the employee(s) incumbent in this position. Employees will be required to follow any other job-related instructions and to perform any other job-related duties requested by any person authorized to give instructions or assignments.

All duties and responsibilities are essential functions and requirements and are subject to possible modification to reasonably accommodate individuals with disabilities. To perform this job successfully, the incumbents will possess the skills, aptitudes, and abilities to perform each duty profi

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