Real Estate Loss Mitigation Specialist
Credit Union of Texas, Allen, Texas, United States, 75013
Position Purpose and Objectives
Real Estate Portfolio Management & Early Intervention
Manage delinquent Texas Home Equity Loans and HELOCs from early-stage delinquency through foreclosure referral or charge-off.
Proactively engage borrowers to identify hardship causes and evaluate sustainable retention solutions.
Conduct detailed financial analysis including income verification, expense review, and property valuation assessment.
Monitor high-risk accounts and intervene prior to foreclosure escalation when viable retention options exist.
Workout & Retention Solutions
Evaluate, structure, and negotiate loss mitigation options including:
Repayment plans
Short-term forbearances
Long-term forbearance agreements
Loan modifications (term extension, rate adjustment, capitalization of arrears where permitted)
Partial claim or deferral options (if applicable to product structure)
Deed-in-lieu of foreclosure
Short sale approvals
Cash-for-keys agreements (where applicable)
Settlement agreements on charged-off or deficiency balances (where allowed)
Analyze cost-benefit of each workout option versus foreclosure action.
Review and validate borrower financial documentation to determine eligibility.
Evaluate debt-to-income ratios, property equity position, and borrower hardship sustainability.
Ensure all workout agreements comply with Texas constitutional home equity requirements (Article XVI, Section 50(a)(6)).
Present complex or exception requests for management approval when outside delegated authority.
Ensure workout decisions align with investor or participation agreement requirements.
Foreclosure & Liquidation Decision Support
Determine when foreclosure referral is necessary after evaluating all reasonable retention efforts and refer to foreclosure counsel.
Ensure compliance with cure notice requirements, 20-day and 60-day provisions, and all constitutional timelines.
Coordinate with foreclosure counsel to prepare accounts for referral.
Short Sale & Deed-in-Lieu Administration
Review property valuations (BPOs, appraisals) to assess collateral exposure.
Analyze lien position and title considerations.
Negotiate short sale terms with listing agents, attorneys, and borrowers.
Coordinate payoff figures and deficiency treatment.
Review and approve deed-in-lieu documentation ensuring clear title transfer and waiver terms align with policy.
Compliance & Legal Coordination
Ensure strict compliance with:
Texas Constitution Article XVI Section 50(a)(6)
Texas Finance Code Chapter 392
CFPB mortgage servicing rules (Regulation X and Z where applicable)
FDCPA (as applicable to 1st party collections)
Monitor bankruptcy filings and coordinate with legal counsel.
Maintain audit-ready documentation of financial packages, decision rationales, and workout approvals.
Escalate potential compliance risks immediately.
Member Communication & Professional Judgment
Conduct complex borrower conversations with empathy and authority.
Clearly explain legal rights, foreclosure implications, and workout eligibility.
De-escalate emotionally charged situations while maintaining firm boundaries.
Balance member advocacy with protection of the credit union’s collateral position.
Positions directly supervised N/A
Specific knowledge, skills, and abilities required for this position
Strong analytical, critical thinking and problem-solving skills.
Excellent interpersonal and communication skills, with the ability to interact effectively at all levels of the organization.
Detail-oriented with a high level of integrity and professionalism.
Strong organizational and time management skills with the capability to manage multiple tasks simultaneously.
Working knowledge of:
Texas Home Equity lending regulations (Article XVI, Section 50(a)(6))
Texas Finance Code Chapter 392
CFPB servicing and debt collection regulations
1st party collection compliance standards
Experience handling home equity loans and HELOCs in Texas.
Strong negotiation and conflict-resolution skills.
Ability to handle difficult conversations with professionalism and composure.
High attention to detail and documentation accuracy.
Loss mitigation or modification experience.
Education
Bachelor’s degree and/or equivalent experience in a credit union or banking environment.
Qualifications
Minimum of 3-5 years of experience servicing delinquent real estate loans.
Knowledge of foreclosure processes specific to Texas real property.
Familiarity with bankruptcy procedures as they relate to secured debt.
Strong negotiation skills.
Physical Activities and Requirements of this Position Finger Dexterity
Using primarily just the fingers to make small movements such as typing, picking up small objects, or pinching fingers together.
Grasping
Using fingers and palm on an object.
Talking
Especially where one must frequently convey detailed or important instructions or ideas accurately, loudly, or quickly.
Repetitive Motions
Movements frequently and regularly required using the wrists, hands, and/or fingers.
Average Hearing
Able to hear average or normal conversations and receive ordinary information.
Average Visual Abilities
Average, ordinary, visual acuity necessary to prepare or inspect documents or products, or operate machinery.
Sedentary Work
While performing the duties of this job, the employee will frequently talk or hear, sit, use hands to handle or feel, and reach with hands or arms. The employee will occasionally, stand and walk, climb or balance, and stoup, kneel, crouch, or crawl. The employee will occasionally lift and move up to 10 pounds.
Working Conditions of this Position · No hazardous or significantly unpleasant conditions.
· Occasional travel may be necessary for training, meetings, and field investigations.
· Must be able to handle stressful situations and sensitive information with discretion.
Mental Activities and Requirements of this Position Reasoning Ability: The ability to use common sense or logic.
Detailed Ability to define problems collects data, establish facts, and draw valid conclusions. Ability to interpret an extensive variety of technical instructions in mathematical or diagram form and deal with several abstract and concrete variables.
Mathematical Ability: The level of ability required to perform math skills and operations.
Basic Ability to calculate figures and amounts such as discounts, interest, commissions, proportions, percentages, area, circumference, and volume. Ability to apply concepts of basic algebra and geometry.
Language Ability: The level of ability required to communicate and understand written and oral language.
Typical Ability to use passive vocabulary of 7,000-9,000 words; read at a fast-paced rate; and define unfamiliar words in dictionaries for meaning, spelling, and pronunciation. Ability to write moderate to complex documents. Ability to communicate in complex sentences, using normal word order with present and past tenses and strong vocabulary. Ability to read, analyze, and interpret common scientific and technical journals, financial reports, and legal documents. Ability to respond to common inquiries or complaints from customers, regulatory agencies, or members of the business community. Ability to write speeches and articles for publication that conform to prescribed style and format. Ability to effectively present information to top management, public groups, and/or boards of directors.
Compliance requirement The responsibilities contained within this job description remains compliant with Bank Secrecy Act / Anti-Money Laundering, Office of Foreign Assets Control and USA PATRIOT Act as they apply to the duties of the position.
Disclaimer The information in this job description has been designed to indicate the general nature and level of work performed by employees within this classification. It is not designed to contain or be interpreted as a comprehensive inventory of all duties, responsibilities and qualifications required of employees assigned to this job, which may vary on the department or the assignment. The actual essential duties, responsibilities and qualifications may vary by department, reporting structure and other business needs. No inference should be drawn that a specific job duty, responsibility or qualification is non-essential by its absence from this description.
Equal Opportunity Employer/Protected Veterans/Individuals with Disabilities This employer is required to notify all applicants of their rights pursuant to federal employment laws. For further information, please review the Know Your Rights notice from the Department of Labor.
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Manage delinquent Texas Home Equity Loans and HELOCs from early-stage delinquency through foreclosure referral or charge-off.
Proactively engage borrowers to identify hardship causes and evaluate sustainable retention solutions.
Conduct detailed financial analysis including income verification, expense review, and property valuation assessment.
Monitor high-risk accounts and intervene prior to foreclosure escalation when viable retention options exist.
Workout & Retention Solutions
Evaluate, structure, and negotiate loss mitigation options including:
Repayment plans
Short-term forbearances
Long-term forbearance agreements
Loan modifications (term extension, rate adjustment, capitalization of arrears where permitted)
Partial claim or deferral options (if applicable to product structure)
Deed-in-lieu of foreclosure
Short sale approvals
Cash-for-keys agreements (where applicable)
Settlement agreements on charged-off or deficiency balances (where allowed)
Analyze cost-benefit of each workout option versus foreclosure action.
Review and validate borrower financial documentation to determine eligibility.
Evaluate debt-to-income ratios, property equity position, and borrower hardship sustainability.
Ensure all workout agreements comply with Texas constitutional home equity requirements (Article XVI, Section 50(a)(6)).
Present complex or exception requests for management approval when outside delegated authority.
Ensure workout decisions align with investor or participation agreement requirements.
Foreclosure & Liquidation Decision Support
Determine when foreclosure referral is necessary after evaluating all reasonable retention efforts and refer to foreclosure counsel.
Ensure compliance with cure notice requirements, 20-day and 60-day provisions, and all constitutional timelines.
Coordinate with foreclosure counsel to prepare accounts for referral.
Short Sale & Deed-in-Lieu Administration
Review property valuations (BPOs, appraisals) to assess collateral exposure.
Analyze lien position and title considerations.
Negotiate short sale terms with listing agents, attorneys, and borrowers.
Coordinate payoff figures and deficiency treatment.
Review and approve deed-in-lieu documentation ensuring clear title transfer and waiver terms align with policy.
Compliance & Legal Coordination
Ensure strict compliance with:
Texas Constitution Article XVI Section 50(a)(6)
Texas Finance Code Chapter 392
CFPB mortgage servicing rules (Regulation X and Z where applicable)
FDCPA (as applicable to 1st party collections)
Monitor bankruptcy filings and coordinate with legal counsel.
Maintain audit-ready documentation of financial packages, decision rationales, and workout approvals.
Escalate potential compliance risks immediately.
Member Communication & Professional Judgment
Conduct complex borrower conversations with empathy and authority.
Clearly explain legal rights, foreclosure implications, and workout eligibility.
De-escalate emotionally charged situations while maintaining firm boundaries.
Balance member advocacy with protection of the credit union’s collateral position.
Positions directly supervised N/A
Specific knowledge, skills, and abilities required for this position
Strong analytical, critical thinking and problem-solving skills.
Excellent interpersonal and communication skills, with the ability to interact effectively at all levels of the organization.
Detail-oriented with a high level of integrity and professionalism.
Strong organizational and time management skills with the capability to manage multiple tasks simultaneously.
Working knowledge of:
Texas Home Equity lending regulations (Article XVI, Section 50(a)(6))
Texas Finance Code Chapter 392
CFPB servicing and debt collection regulations
1st party collection compliance standards
Experience handling home equity loans and HELOCs in Texas.
Strong negotiation and conflict-resolution skills.
Ability to handle difficult conversations with professionalism and composure.
High attention to detail and documentation accuracy.
Loss mitigation or modification experience.
Education
Bachelor’s degree and/or equivalent experience in a credit union or banking environment.
Qualifications
Minimum of 3-5 years of experience servicing delinquent real estate loans.
Knowledge of foreclosure processes specific to Texas real property.
Familiarity with bankruptcy procedures as they relate to secured debt.
Strong negotiation skills.
Physical Activities and Requirements of this Position Finger Dexterity
Using primarily just the fingers to make small movements such as typing, picking up small objects, or pinching fingers together.
Grasping
Using fingers and palm on an object.
Talking
Especially where one must frequently convey detailed or important instructions or ideas accurately, loudly, or quickly.
Repetitive Motions
Movements frequently and regularly required using the wrists, hands, and/or fingers.
Average Hearing
Able to hear average or normal conversations and receive ordinary information.
Average Visual Abilities
Average, ordinary, visual acuity necessary to prepare or inspect documents or products, or operate machinery.
Sedentary Work
While performing the duties of this job, the employee will frequently talk or hear, sit, use hands to handle or feel, and reach with hands or arms. The employee will occasionally, stand and walk, climb or balance, and stoup, kneel, crouch, or crawl. The employee will occasionally lift and move up to 10 pounds.
Working Conditions of this Position · No hazardous or significantly unpleasant conditions.
· Occasional travel may be necessary for training, meetings, and field investigations.
· Must be able to handle stressful situations and sensitive information with discretion.
Mental Activities and Requirements of this Position Reasoning Ability: The ability to use common sense or logic.
Detailed Ability to define problems collects data, establish facts, and draw valid conclusions. Ability to interpret an extensive variety of technical instructions in mathematical or diagram form and deal with several abstract and concrete variables.
Mathematical Ability: The level of ability required to perform math skills and operations.
Basic Ability to calculate figures and amounts such as discounts, interest, commissions, proportions, percentages, area, circumference, and volume. Ability to apply concepts of basic algebra and geometry.
Language Ability: The level of ability required to communicate and understand written and oral language.
Typical Ability to use passive vocabulary of 7,000-9,000 words; read at a fast-paced rate; and define unfamiliar words in dictionaries for meaning, spelling, and pronunciation. Ability to write moderate to complex documents. Ability to communicate in complex sentences, using normal word order with present and past tenses and strong vocabulary. Ability to read, analyze, and interpret common scientific and technical journals, financial reports, and legal documents. Ability to respond to common inquiries or complaints from customers, regulatory agencies, or members of the business community. Ability to write speeches and articles for publication that conform to prescribed style and format. Ability to effectively present information to top management, public groups, and/or boards of directors.
Compliance requirement The responsibilities contained within this job description remains compliant with Bank Secrecy Act / Anti-Money Laundering, Office of Foreign Assets Control and USA PATRIOT Act as they apply to the duties of the position.
Disclaimer The information in this job description has been designed to indicate the general nature and level of work performed by employees within this classification. It is not designed to contain or be interpreted as a comprehensive inventory of all duties, responsibilities and qualifications required of employees assigned to this job, which may vary on the department or the assignment. The actual essential duties, responsibilities and qualifications may vary by department, reporting structure and other business needs. No inference should be drawn that a specific job duty, responsibility or qualification is non-essential by its absence from this description.
Equal Opportunity Employer/Protected Veterans/Individuals with Disabilities This employer is required to notify all applicants of their rights pursuant to federal employment laws. For further information, please review the Know Your Rights notice from the Department of Labor.
#J-18808-Ljbffr