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1
senior loss mitigation specialist
- Analyze individual financial status, credit, and references to determine collection options based on credit union policy.
- Handle member complaints and take appropriate action to resolve them.
- Negotiate payment arrangements with individual delinquent loans. Draft new agreement for member compliance to new loan terms to absolve delinquency .
- Prepare risk reports for board analysis regarding both unsecured and secured loan delinquencies as well as actions recommended.
- Monitor bankruptcy fillings, hearings, and motions daily. As well as maintain accurate legal bankruptcy knowledge for collection proceedings.
- Interview members or references by telephone to gather updated contact information.
- Offset member accounts per policy for preventable delinquencies after regulated days past due.
2
loss mitigation specialist
- Maintain efficient notes for future use of member interactions, legal proceedings and notes, or collection efforts/recommendations.
- File police reports or court hearing regarding fraud committed against credit union.
- Investigate missing checks, payment histories, held funds, returned checks, or other related issues to resolve delinquencies or fraud.
- Establish and maintain policies and procedures for accurate training and continued up to date knowledge throughout loss mitigation staff.
- Review individual accounts daily for payments received, legal fillings, or updates.
- Correspond directly with legal attorneys by preparing documentation for litigation, follow up on hearings, and collections attempts per court orders.
- Directed insurance negotiations for totaled vehicles still under credit union lien.