SEFCU Loss Mitigation Specialist in Albany, New York
If you are ready to join a company that truly cares about its employees, our members, and our community then you have come to the right place!
Overview of Your Role
Review, analyze and take appropriate and timely action for bankruptcies, SCRA accounts and GAP claims. Communicate with attorneys for legal action and research. Responsible for maintaining knowledge with State and Federal laws that as they pertain to bankrupt accounts. Review and prepare all bankrupt accounts for appropriate action.
Accountabilities and Responsibilities
- Accountabilities and Responsibilities
Handle all accounts that file Chapter 7
Review and prepare accounts for appropriate action.
Update account information on all SEFCU collections and other required systems
Review and prepare Reaffirmation Agreements, mail to attorney and file with the Bankruptcy Court electronically
Review accounts and send to attorney so motions for relief and/or objections can be filed with the Court when applicable
Code accounts appropriately once discharge notice is received
Work and communicate with attorneys as needed for appropriate action and legal assistance and advice
Acquire and preserve knowledge of State and Federal laws as they pertain to collections and bankruptcies
Attend relevant Court hearings wherever possible and whenever appropriate.
Maintain an expert knowledge of all collection laws, regulations and procedures.
Handle incoming and outgoing phone calls as they pertain to both the department and position specific duties
Make recommendations regarding charge-offs or further internal collection efforts to department management
Mortgage Resolution Duties
Update account information on servicing director, FSP and CRM
Review the Delinquent New Loan Report
Review the Early Intervention Report and send out loss mitigation packages twice a month
Prepare delinquent bankruptcy notices and send to borrowers attorney
Prepare the 362 worksheet for attorney to file motion for relief on bankruptcy accounts
Prepare 90 day NYS pre foreclosure notices and enter notice information to the NYS banking department foreclosure reporting website
Prepare final demand letters
Prepare estate account letters
Order property inspections and update property inspection report on monthly basis
Back up to Mortgage Resolution Duties(as needed)
Review Loss mitigation packages to determine/and or recommend best course of action to include repayment, forbearance, modification, short sale or DIL
Follow Freddie Mac’s guide for Loss Mitigation, foreclosure, REO procedures, reporting and Reimbursement
Prepare foreclosure analysis to determine/and or recommend best course of action to include motions to lift stay, write downs, charge off or foreclosure (
Submit files for charge offs and update the charge off report monthly
Review status updates on accounts that Notice of Appearances were filed on
Review summons and complaints received from attorney
Respond to email inquiries from attorney with regards to collection accounts
Serve as back for researches and reviews all credit disputes that come through mail or E-Oscar
Serve as a backup to the CUNA Credit Representative in regard to all service request submissions regarding insurance claims disability and life, as well as, substantive research while resolving overhanging issues with claims
Serve as back up in assisting in processing chex systems reporting for negative share accounts through FIS
Other duties as needed
Credentials, Experience and Skills
Associate's degree (A. A.) or equivalent from two-year college or technical school; or one to two years related experience and/or training; or equivalent combination of education and experience in a financial setting as it relates to collections, bankruptcy, loss mitigation/foreclosures and estates
Notary Public certification preferred or ability to obtain certification
Knowledge of foreclosure or bankruptcy is desired
Ability to read, analyze and interpret legal documents and NYS, Federal and Collection guidelines
Ability to effectively present information and respond to questions from managers, co-workers, members and attorneys
Good writing and verbal communication skills
Ability to work well under pressure and adhere to set deadlines
Ability to create and manipulate spreadsheets and documents in Microsoft Excel and Word
Your ability to be bonded is required
We are an equal opportunity employer. We do not discriminate on the basis of race, creed, color, national origin, religion, sex, age, veteran status, disability, genetic information, or any other protected class.
SEFCU is committed to ensuring individuals with disabilities and/or those who have special needs participate in the workforce and are afforded equal opportunity to apply and compete for jobs. If you would like to contact us regarding the accessibility of our Website or need assistance completing the application process, please contact us at email@example.com.
At SEFCU, our team of professionals is the backbone of achieving our mission each day. Our innovative culture has paved the way for past success and is essential to achieving our future goals. As we work to serve our communities, we rely on our collective talents to create the superior financial products and incomparable member service that are uniquely SEFCU. The following tenets are the heart and soul of our culture and central to how we do business:
Member Service – Providing extraordinary service with every interaction
Teamwork – Together we succeed through a spirit of mutual respect and collaboration
Continuous Improvement and Change – Encouraging and implementing ideas to enhance the member and employee experience, while embracing entrepreneurial and innovative thought
Fun and Wellness – A balance of mind, body and spirit leads to satisfaction, engagement and mutual success
Community Betterment – People helping people