Workout & Collections Representative

Position Overview :

As part of the Workout team, the representative will reduce the bank's exposure to loss in consumer / residential loans, commercial loans and OREO properties. Coordinates and executes action plans and provides liaison between management, loan officers, collection personnel and loan operations and borrowers.

Primary Responsibilities :

Performs any functions necessary, within scope of authority and expertise, to provide the highest level of service and responsiveness to customers :

• Directly or in conjunction with the Workout Manager, manage delinquent and classified loans by borrower and third-party contact to :
• Review, analyze, and correct any structural or documentation deficiencies
• Facilitate collection of PMI, Forced Place insurance claims and real estate tax delinquencies
• Execute FNMA collection and modification procedures
• Create and / or maintain files for consumer / residential and commercial loan workout customers
• Reviews delinquency reports and makes collection calls where needed and as directed by the Workout Manager
• Work with loan officers to track reason for delinquency
• Identify items that can be offset with deposit accounts
• Generates personalized form letters and mails letters to customers who cannot be contacted directly by the collector.
• Reviews delinquency reports and sends the necessary counseling letters to those customers who are in default.
• Works closely with borrowers who are unable to meet loan payments to determine appropriate solutions to address the problem. Propose and / or implement solutions with management approval
• Identify all delinquent GSE loans and ensure that collection activities follow the prescribed guidelines as defined by the appropriate GSE (FNMA, etc.) Document collection activities according to guidelines.
• Process skip payment requests from borrowers who may need brief payment relief, following through from initial request to finalization and execution of the request by Loan Operations.
• Research and document loan payment history requests and all aspects of a loan as necessary
• Tracks through and resolves any disputes in payments to the satisfaction of the customer and the bank
• Track bankruptcy filings
• Files any correspondence in the particular loan file folders.
• Review non-accrual report and update loan statuses when needed and as directed by the Workout Manager
• Assist in preparation of demand letters as directed by the Workout Manager
• Assist in preparations of foreclosure packages
• Prepare charge-off approval forms as directed by the Workout Manager
• Assists in preparation of Small Claims notices
• Assists with tracking and logging recovery payments
• Assistance in management Other Real Estate Owed (OREO) properties owned by the Bank or its affiliate including :
• Create and maintain OREO files
• Coordinate payment and tracking of OREO bills
• Interaction with attorneys and other consultants / vendors as needed to minimize loss / maximize recovery on loans and OREO
• Coordinate with the bank's operations departments to implement agreed upon plans.
• Attends appropriate seminars to increase knowledge of collections and the laws that relate to collections.

Other Responsibilities :

Perform related and unrelated duties as may be required.

Requirements

Qualifications :

Avidia Bank is an Equal Opportunity Employer / Veterans / Disabled

Member FDIC / DIF

PM21

Salary Description

$20-$24 / hour