Asset Disposition Specialist - Credit Resolution - Wheeling, WV
WesBanco Bank Inc., Defiance, OH, United States
Location
This position is hybrid. The employee is split between remote and office work on a formalized schedule. Consideration for location will be Bank Plaza - Wheeling, WV; Ellwood City, PA; Youngstown Main, OH; Defiance Main, OH; and West Dixie, Elizabethtown, KY. Work Hours
37.5 hours per week. Job Summary
Manages the day‑to‑day collections of a portfolio of credit lines and consumer and personal loans, both secured and unsecured. Maintains comprehensive knowledge of applicable state and federal regulations relating to collections and ensures the Bank's policies and procedures are compliant. Prepares files as accounts progress in delinquency and makes recommendations to management regarding actions needed to secure possession of collateral and/or payment of past‑due amounts. Essential Duties and Responsibilities
To perform this job successfully, an individual must: Initiate outbound and receive inbound phone calls relating to active repossession/foreclosure assignments. Monitor foreclosure action with outside counsel on loans in foreclosure, including third‑party foreclosures, foreclosures that file bankruptcy, and deeds in lieu of foreclosure. Review document packages prepared by support personnel for completeness prior to forwarding to counsel for foreclosure. Maintain a detailed log on all accounts throughout the foreclosure process. Order appraisals when appropriate. Assist borrowers in understanding options to avoid foreclosure, including short sale, deed in lieu, and modifications. Adhere to stated timelines throughout the foreclosure and loss mitigation process. Calculate and submit foreclosure sale bidding instruction recommendations for proper approval. Prepare letters and correspondence to customers while maintaining compliance with all CFPB requirements. Submit completed loss mitigation packages for approval. Prepare necessary documentation to assign defaulted loans to vendors for repossession of collateral. Maintain current information in the repossession tab in the collection system for all repossessions in process. Act as point of contact for auctions and agents handling the Bank's repossessed assets. Request and maintain ongoing feedback on repossession assignments. Establish floor bids for auctions. Assist agents in obtaining additional information needed to locate collateral and inform agents/auctions to halt further action if an account has been paid current, assigned to counsel, or redeemed by the borrower. Monitor auctions and agents for best repossession practices, including but not limited to:
Verify feedback is clear, concise, and submitted in a timely manner. Confirm collateral assigned for repossession is located and secured within 30 days. Verify condition reports from vendors are consistent and include clear photographs and explanations. Ensure actions taken by vendors are consistent with the Bank's vendor agreements.
Review weekly auction bids and communicate to auction personnel to accept, reject, or negotiate bids based on parameters set by the Credit Resolution Unit. Review and approve vendor invoices for payment noting the appropriate accounts. Prepare sale and deficiency letters. Complete all necessary documentation and reports when collateral has been sold. Process net proceeds checks following the sale of collateral. Complete releases for redemptions as appropriate. Make payment arrangements with borrowers seeking to cancel or redeem active repossessions/foreclosures in accordance with procedures set by the Credit Resolution Unit. Process GL and payment tickets as applicable when payment is received. Research and resolve billing and/or payment disputes on assigned accounts. Assign defaulted residential real estate loans to the appropriate attorney for foreclosure and oversee the foreclosure process to its conclusion. Travel periodically to attend auctions. Meet periodically with the Bank's vendors, as assigned by the Asset Disposition Manager. Other Requirements
High school diploma or general education degree (GED) required. Minimum of three (3) years of collection experience preferred. Comprehensive knowledge of applicable state and federal regulations relating to the collection of residential real estate loans, including the January 2014 CFPB guidelines, required. Banking is a highly regulated industry; you will be expected to acquire and maintain proficiency in the bank’s policies and procedures and adhere to all laws, rules, and regulations applicable to your conduct. Complete all assigned compliance training in a timely manner. Ability to work in a fast‑paced work environment. Professional appearance and demeanor. Excellent interpersonal and written communication skills. Ability to research problem situations and recommend appropriate action. Maintain positive relations with all customers, both internal and external, while discussing legal matters in a professional, yet tactful manner. Work effectively in a team environment with interaction among other members. Effective organizational skills with attention to detail and promptness. Experience using Microsoft products, including Word, Excel, and Outlook. Prior experience with collection systems is a plus. Employment Type
Full‑time.
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This position is hybrid. The employee is split between remote and office work on a formalized schedule. Consideration for location will be Bank Plaza - Wheeling, WV; Ellwood City, PA; Youngstown Main, OH; Defiance Main, OH; and West Dixie, Elizabethtown, KY. Work Hours
37.5 hours per week. Job Summary
Manages the day‑to‑day collections of a portfolio of credit lines and consumer and personal loans, both secured and unsecured. Maintains comprehensive knowledge of applicable state and federal regulations relating to collections and ensures the Bank's policies and procedures are compliant. Prepares files as accounts progress in delinquency and makes recommendations to management regarding actions needed to secure possession of collateral and/or payment of past‑due amounts. Essential Duties and Responsibilities
To perform this job successfully, an individual must: Initiate outbound and receive inbound phone calls relating to active repossession/foreclosure assignments. Monitor foreclosure action with outside counsel on loans in foreclosure, including third‑party foreclosures, foreclosures that file bankruptcy, and deeds in lieu of foreclosure. Review document packages prepared by support personnel for completeness prior to forwarding to counsel for foreclosure. Maintain a detailed log on all accounts throughout the foreclosure process. Order appraisals when appropriate. Assist borrowers in understanding options to avoid foreclosure, including short sale, deed in lieu, and modifications. Adhere to stated timelines throughout the foreclosure and loss mitigation process. Calculate and submit foreclosure sale bidding instruction recommendations for proper approval. Prepare letters and correspondence to customers while maintaining compliance with all CFPB requirements. Submit completed loss mitigation packages for approval. Prepare necessary documentation to assign defaulted loans to vendors for repossession of collateral. Maintain current information in the repossession tab in the collection system for all repossessions in process. Act as point of contact for auctions and agents handling the Bank's repossessed assets. Request and maintain ongoing feedback on repossession assignments. Establish floor bids for auctions. Assist agents in obtaining additional information needed to locate collateral and inform agents/auctions to halt further action if an account has been paid current, assigned to counsel, or redeemed by the borrower. Monitor auctions and agents for best repossession practices, including but not limited to:
Verify feedback is clear, concise, and submitted in a timely manner. Confirm collateral assigned for repossession is located and secured within 30 days. Verify condition reports from vendors are consistent and include clear photographs and explanations. Ensure actions taken by vendors are consistent with the Bank's vendor agreements.
Review weekly auction bids and communicate to auction personnel to accept, reject, or negotiate bids based on parameters set by the Credit Resolution Unit. Review and approve vendor invoices for payment noting the appropriate accounts. Prepare sale and deficiency letters. Complete all necessary documentation and reports when collateral has been sold. Process net proceeds checks following the sale of collateral. Complete releases for redemptions as appropriate. Make payment arrangements with borrowers seeking to cancel or redeem active repossessions/foreclosures in accordance with procedures set by the Credit Resolution Unit. Process GL and payment tickets as applicable when payment is received. Research and resolve billing and/or payment disputes on assigned accounts. Assign defaulted residential real estate loans to the appropriate attorney for foreclosure and oversee the foreclosure process to its conclusion. Travel periodically to attend auctions. Meet periodically with the Bank's vendors, as assigned by the Asset Disposition Manager. Other Requirements
High school diploma or general education degree (GED) required. Minimum of three (3) years of collection experience preferred. Comprehensive knowledge of applicable state and federal regulations relating to the collection of residential real estate loans, including the January 2014 CFPB guidelines, required. Banking is a highly regulated industry; you will be expected to acquire and maintain proficiency in the bank’s policies and procedures and adhere to all laws, rules, and regulations applicable to your conduct. Complete all assigned compliance training in a timely manner. Ability to work in a fast‑paced work environment. Professional appearance and demeanor. Excellent interpersonal and written communication skills. Ability to research problem situations and recommend appropriate action. Maintain positive relations with all customers, both internal and external, while discussing legal matters in a professional, yet tactful manner. Work effectively in a team environment with interaction among other members. Effective organizational skills with attention to detail and promptness. Experience using Microsoft products, including Word, Excel, and Outlook. Prior experience with collection systems is a plus. Employment Type
Full‑time.
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