The Loss Mitigation Associate is responsible for understanding and following policies and procedures regarding loss mitigation processes for Mortgage Loan and all real estate secured loans, Consumer Loans, and Credit Cards. The Loss Mitigation Associate - Collections will develop delinquency controls and effective collection techniques, delinquency letters, and collection calls for members protected under the Servicemembers Civil Relief Act (SCRA) and ensure compliance with state and federal regulations. Process correspondence for the collections department, provide general administrative support, and maintain accurate records.

Responsibilities:

• Ensure compliance with state and federal regulations.
• Understand and follow policies and procedures regarding loss mitigation processes for Mortgage Loan and all real estate secured loans, Consumer Loans, and Credit Cards.
• Access to Delinquency Reports for Mortgage Loans, Home Equity Loans, Consumer loans and Credit Cards are accessed, documented, and tracked in our LCCU systems.
• Verify Delinquency accounts, maintenance, processing errors can make a loan appear delinquent for Mortgage Loans, Home Equity Loans, Consumer loans and Credit Cards in our LCCU system. Identify errors and fix them.
• Analyze accounts to identify appropriate next steps based on factors such as account types, amount owed, funds transfer, minimum balance, credit score, and collateral value.
• Develop delinquency controls and effective collection methods.
• Coordinate delinquency letters, and collection calls for members protected under the Servicemembers Civil Relief Act (SCRA).
• Process all correspondence for the collections department with accuracy.
• Create form letters, type labels, and provide general administrative support.
• Collection efforts should be documented. Keep the delinquency efforts notes up to date in the collection systems and input data into the credit union's collection system.
• Maintain the Mortgage Loan Collections database up to date for real estate secured loans. Ensure notes could be used in a court of law and may be reviewed by regulators.
• Complete a full range of related administrative procedures, including record retention.
• Generate, maintain, and present reports to management as needed.
• Respond to telephone calls regarding payment notices and delinquent accounts.
• Supervise the mailing of payment notices, promptly detecting and correcting credit union errors.
• Provide members with a complete explanation of the loan's status as requested.
• Follow up on delinquent loans and make calls for interest, partial, or full payment.
• Maintain a detailed written record of all communications made regarding delinquency and scanned documents.
• Receive and write receipts for mail payments directed to the department and route them to the teller.
• Correspond with attorneys regarding accounts that have been sent out for legal action.
• Perform other clerical duties as needed.

• Associate degree preferred, and minimum 2 to 3 years related/office experience preferred.
• Excellent verbal and written communication skills in English and Spanish.
• Strong knowledge and adherence to policies and procedures of the credit union.
• Familiarity with state and federal regulations related to consumer loans and collections.
• Excellent organizational and administrative skills.
• Attention to detail and accuracy in work.
• Proficiency in using collection systems and generating reports.
• Strong communication skills, both written and verbal.
• Ability to handle sensitive and confidential information.
• Ability to work independently and as part of a team.
• Proficiency in using office software and equipment.
• Previous experience in a similar role is preferred.

Physical requirements: Must be able to sit for extended periods of time, use the computer and telephone to complete work, and lift up to 30 pounds at times.

The above statements are intended to describe the general nature of work being performed by individuals assigned to this position. They are not intended to be an exhaustive list of all responsibilities, duties, knowledge, skills, and abilities required of individuals so classified.