Loss Mitigation Specialist
Addition Financial, Lake Mary, FL, United States
Loss Mitigation Specialist
We are Addition Financial, a member-owned, not-for-profit financial cooperative, offering comprehensive financial solutions that help members achieve their financial goals. Shareholder profits do not drive us and never have. Since 1937, we have been on a mission to bring financial success and education to everyone and make a positive impact in the lives of our members and the communities we serve. And we want your help to make that happen. We are looking for team members who not only want to do meaningful, challenging work, but who also have a heart for service. If this sounds like you, keep reading and we'll dive into the specifics! Job Description
The Hardship/Loss Mitigation Specialist is responsible for loan extensions and hardship-workout loan modifications. Duties and Responsibilities: Ensure compliance with the Real Estate Settlement Procedures Act (RESPA), the Equal Credit Opportunity Act (ECOA), Fair Lending Act and all guidelines. Remain abreast of current economic landscapes, member needs, and the financial position of the credit union. Review and process extension requests and loan modifications for all loan types due to member hardship or other reasons. Present modification proposals falling outside the approved waterfall matrix to the Workout Loan Committee for approval. Draft precise loan modification documents and coordinate with members to obtain signatures. Preparation and delivery of Adverse and/or Subsequent Action forms. Review and update various monitoring reports and identify issues or discrepancies. Address member inquiries promptly and professionally, providing accurate information and assistance as needed. Requirement: High School Diploma or GED Two to five years related experience and/or training in consumer loan servicing, or equivalent combination of education and experience. Excellent written and verbal communication skills. Ability to work in a fast-paced, highly demanding environment. Must possess good judgement and problem-solving skills. Ability to understand and strictly adhere to state and federal lending regulations, as well as investor guidelines. The incumbent in this position must adhere to all regulations and Addition Financial policies/procedures related to the Bank Secrecy Act. Physical/Environmental Demands: Physical Demands: Sitting for long periods at a time. Regularly required to talk or listen. Occasional lifting of office supplies up to 20 lbs. Requires the ability to see clearly at close range and to adjust focus as needed for tasks. Mental Demands: Must understand and follow a set of clear verbal and/or written procedures without deviation. Performs repetitive routine tasks. Withstand moderate amounts of stress. Must adhere to a provided work schedule to meet a set of qualitative production standards. Perform tasks that vary little from day to day. Must relay information verbally Working with Us: We are continually recognized as a top employer because we understand people like you want more out of your career. Like making a difference in people's lives and in the community. Being part of a team that supports each other. Feeling good about the time you spend at work each day. And being able to balance your life while also earning a competitive base salary and benefits, including: 401k with matching contribution up to 6% of base salary Comprehensive medical, dental and vision coverage from leading insurance providers Continuing education and tuition reimbursement Generous vacation and sick pay Paid parental leave and volunteer time off Major holidays off including Federal holidays that many other industries do not observe Credit union benefits including reduced consumer/mortgage loan rates, free checks, and other financial services discounts At Addition Financial, we accept you for who you are. We are an equal opportunity employer and do not discriminate based on race, color, creed, religion, national origin, sex, marital status, age, protected veteran status, or disability/handicap with regards to recruitment, selection, placement, promotion, wages, benefits, and any other areas of employment. Personal perspectives and beliefs are what help our team members, and our company, grow as a whole and we seek to nurture that inclusiveness. We welcome our team members' diverse viewpoints and work together so that everyone's voices are heard.
We are Addition Financial, a member-owned, not-for-profit financial cooperative, offering comprehensive financial solutions that help members achieve their financial goals. Shareholder profits do not drive us and never have. Since 1937, we have been on a mission to bring financial success and education to everyone and make a positive impact in the lives of our members and the communities we serve. And we want your help to make that happen. We are looking for team members who not only want to do meaningful, challenging work, but who also have a heart for service. If this sounds like you, keep reading and we'll dive into the specifics! Job Description
The Hardship/Loss Mitigation Specialist is responsible for loan extensions and hardship-workout loan modifications. Duties and Responsibilities: Ensure compliance with the Real Estate Settlement Procedures Act (RESPA), the Equal Credit Opportunity Act (ECOA), Fair Lending Act and all guidelines. Remain abreast of current economic landscapes, member needs, and the financial position of the credit union. Review and process extension requests and loan modifications for all loan types due to member hardship or other reasons. Present modification proposals falling outside the approved waterfall matrix to the Workout Loan Committee for approval. Draft precise loan modification documents and coordinate with members to obtain signatures. Preparation and delivery of Adverse and/or Subsequent Action forms. Review and update various monitoring reports and identify issues or discrepancies. Address member inquiries promptly and professionally, providing accurate information and assistance as needed. Requirement: High School Diploma or GED Two to five years related experience and/or training in consumer loan servicing, or equivalent combination of education and experience. Excellent written and verbal communication skills. Ability to work in a fast-paced, highly demanding environment. Must possess good judgement and problem-solving skills. Ability to understand and strictly adhere to state and federal lending regulations, as well as investor guidelines. The incumbent in this position must adhere to all regulations and Addition Financial policies/procedures related to the Bank Secrecy Act. Physical/Environmental Demands: Physical Demands: Sitting for long periods at a time. Regularly required to talk or listen. Occasional lifting of office supplies up to 20 lbs. Requires the ability to see clearly at close range and to adjust focus as needed for tasks. Mental Demands: Must understand and follow a set of clear verbal and/or written procedures without deviation. Performs repetitive routine tasks. Withstand moderate amounts of stress. Must adhere to a provided work schedule to meet a set of qualitative production standards. Perform tasks that vary little from day to day. Must relay information verbally Working with Us: We are continually recognized as a top employer because we understand people like you want more out of your career. Like making a difference in people's lives and in the community. Being part of a team that supports each other. Feeling good about the time you spend at work each day. And being able to balance your life while also earning a competitive base salary and benefits, including: 401k with matching contribution up to 6% of base salary Comprehensive medical, dental and vision coverage from leading insurance providers Continuing education and tuition reimbursement Generous vacation and sick pay Paid parental leave and volunteer time off Major holidays off including Federal holidays that many other industries do not observe Credit union benefits including reduced consumer/mortgage loan rates, free checks, and other financial services discounts At Addition Financial, we accept you for who you are. We are an equal opportunity employer and do not discriminate based on race, color, creed, religion, national origin, sex, marital status, age, protected veteran status, or disability/handicap with regards to recruitment, selection, placement, promotion, wages, benefits, and any other areas of employment. Personal perspectives and beliefs are what help our team members, and our company, grow as a whole and we seek to nurture that inclusiveness. We welcome our team members' diverse viewpoints and work together so that everyone's voices are heard.