Loss Mitigation Coordinator - The Panther Group
Stevens Point, WI 54481
About the Job
- Under limited supervision, initiate loss mitigation and work out resolutions with the borrower, investor, and PMI companies on real-estate and consumer loans.
- Monitor and maintain accurate account information on all accounts and initiate legal action as required.
- Thoroughly review individual financial statements including a detailed list of monthly bills, taxes/pay stubs, retirement accounts, checking and savings account statements, credit bureaus and hardship letters following the set procedures and guidelines to determine the customer's workout options.
- Counsel customers on ways to maintain an acceptable budget.
- Maintain or exceed acceptable goal levels of completed Loss Mitigation cases set by FNMA/FHLMC.
- Report all completed Loss Mitigation cases for proper credit.
- Identify through individual detailed financial analysis a recommendation to maximize the revenue, limit charge off, non-accrual, repossession, and foreclosure, while retaining customer satisfaction.
- Respond, research, resolve, track, report and follow up on Loss Mitigation cases and their outcome.
- Prepare and issue proper documents to the customer to obtain necessary Loss Mitigation information.
- Respond promptly to a wide variety of telephone calls, written inquiries and requests.
- Analyze and determine whether or not the customer is a good candidate for Loss Mitigation.
- Communicate information and direct documentation to attorneys, title companies, PMI companies, investors and bank customer service personnel to effectively maximize Loss Mitigation opportunities.
Qualifications:
- General banking with knowledge of bank policies, procedures and products required.
- Collections experience preferred
- High School Diploma or equivalent
Source : The Panther Group