What are the responsibilities and job description for the Loss Mitigation Specialist I position at Banterra?
ESSENTIAL DUTIES
Process recovery payments as authorized to include assisting customers and branch staff with
telephone payments and payments on certain accounts.
Perform loan remediation, follow-up, crediting returned checks/ACHs taken in payment, and
foreclosure procedures.
Regularly contact delinquent loan accounts in order to discuss their account status and to work out a
payment arrangement suitable to the Bank and the customer. Record all contacts in the Bank’s
automated remediation system.
Ensure that remediation and collection activities comply with regulatory standards.
Report current and closed loans to inquiring organizations, ensuring that the information is accurate
and comply with applicable fair credit reporting regulations.
Prepare default notices including the preparation and filing of FHA, VA, and PMI claims on defaulted
loans.
Distribute and sort mail, code recovery checks, code legal and recovery invoices, and billing.
Generate and send various customer facing communications regarding account activity.
Maintain regular contact with all lending units of the Bank, as well as with credit bureaus and other
financial organizations.
Obtain and exchange information with credit bureaus and various mortgage insurance agencies.
Assume responsibility for additional projects and tasks as assigned.
EDUCATION & CERTIFICATIONS
Highschool diploma or equivalent required.
MINIMUM REQUIREMENTS
Excellent communication skills and the ability to communicate effectively, verbally and in writing, with
internal and external customers at all levels.
Ability to interpret various ratios and relationships inherent in common or specialized financial and
data-driven reports.
Ability to complete standard calculations and apply basic mathematical concepts in practical
situations.
A positive and proactive approach to work, demonstrating enthusiasm, adaptability, and the ability
to maintain composure and professionalism in stressful or adverse conditions.
Proficient computer literacy, including comfort with Microsoft systems and Office Suite.
Intermediate typing skills to meet the needs of this position.
Current driver’s license and reliable transportation with appropriate insurance coverage; additionally,
the ability to drive occasionally in the course of performing assigned duties and responsibilities.
The ability to work with minimal or no supervision.
ADDITIONAL QUALIFICATIONS
Experience and/or coursework in Accounting, Finance, Business, or a related field preferred.
PHYSICAL DEMANDS AND WORK ENVIRONMENT
The physical demands described here are representative of those that must be met by an employee to
successfully perform the essential functions of this position. Reasonable accommodations may be made
to enable individuals with disabilities to perform the functions.
While performing the duties of this position, the employee is regularly required to talk or hear. The
employee frequently is required to use hands or fingers; handle or feel objects, tools, or controls. The
employee is occasionally required to stand; walk; sit; and reach with hands and arms. The employee must
occasionally lift and/or move up to 25 pounds. Specific vision abilities required by this position include
close vision, distance vision, and the ability to adjust focus. The noise level in the work environment is
usually low to moderate.
NOTE
This job description in no way states or implies that these are the only duties to be performed by the
employee(s) incumbent in this position. Employees will be required to follow any other job-related
instructions and to perform any other job-related duties requested by any person authorized to give
instructions or assignments.
All duties and responsibilities are essential functions and requirements and are subject to possible
modification to reasonably accommodate individuals with disabilities. To perform this job successfully,
the incumbents will possess the skills, aptitudes, and abilities to perform each duty proficiently.
Some requirements may exclude individuals who pose a direct threat or significant risk to the health or
safety of themselves or others.
The requirements listed in this document are the minimum levels of knowledge, skills, or abilities. This
document does not create an employment contract, implied or otherwise, other than an “at will”
relationship.
The company is an Equal Opportunity Employer, drug-free workplace, and complies with ADA
regulations and other laws/regulations as applicable.
Equal Opportunity Employer/Protected Veterans/Individuals with Disabilities
The contractor will not discharge or in any other manner discriminate against employees or applicants because they have inquired about, discussed, or disclosed their own pay or the pay of another employee or applicant. However, employees who have access to the compensation information of other employees or applicants as a part of their essential job functions cannot disclose the pay of other employees or applicants to individuals who do not otherwise have access to compensation information, unless the disclosure is (a) in response to a formal complaint or charge, (b) in furtherance of an investigation, proceeding, hearing, or action, including an investigation conducted by the employer, or (c) consistent with the contractor’s legal duty to furnish information. 41 CFR 60-1.35(c)
Process recovery payments as authorized to include assisting customers and branch staff with
telephone payments and payments on certain accounts.
Perform loan remediation, follow-up, crediting returned checks/ACHs taken in payment, and
foreclosure procedures.
Regularly contact delinquent loan accounts in order to discuss their account status and to work out a
payment arrangement suitable to the Bank and the customer. Record all contacts in the Bank’s
automated remediation system.
Ensure that remediation and collection activities comply with regulatory standards.
Report current and closed loans to inquiring organizations, ensuring that the information is accurate
and comply with applicable fair credit reporting regulations.
Prepare default notices including the preparation and filing of FHA, VA, and PMI claims on defaulted
loans.
Distribute and sort mail, code recovery checks, code legal and recovery invoices, and billing.
Generate and send various customer facing communications regarding account activity.
Maintain regular contact with all lending units of the Bank, as well as with credit bureaus and other
financial organizations.
Obtain and exchange information with credit bureaus and various mortgage insurance agencies.
Assume responsibility for additional projects and tasks as assigned.
EDUCATION & CERTIFICATIONS
Highschool diploma or equivalent required.
MINIMUM REQUIREMENTS
Excellent communication skills and the ability to communicate effectively, verbally and in writing, with
internal and external customers at all levels.
Ability to interpret various ratios and relationships inherent in common or specialized financial and
data-driven reports.
Ability to complete standard calculations and apply basic mathematical concepts in practical
situations.
A positive and proactive approach to work, demonstrating enthusiasm, adaptability, and the ability
to maintain composure and professionalism in stressful or adverse conditions.
Proficient computer literacy, including comfort with Microsoft systems and Office Suite.
Intermediate typing skills to meet the needs of this position.
Current driver’s license and reliable transportation with appropriate insurance coverage; additionally,
the ability to drive occasionally in the course of performing assigned duties and responsibilities.
The ability to work with minimal or no supervision.
ADDITIONAL QUALIFICATIONS
Experience and/or coursework in Accounting, Finance, Business, or a related field preferred.
PHYSICAL DEMANDS AND WORK ENVIRONMENT
The physical demands described here are representative of those that must be met by an employee to
successfully perform the essential functions of this position. Reasonable accommodations may be made
to enable individuals with disabilities to perform the functions.
While performing the duties of this position, the employee is regularly required to talk or hear. The
employee frequently is required to use hands or fingers; handle or feel objects, tools, or controls. The
employee is occasionally required to stand; walk; sit; and reach with hands and arms. The employee must
occasionally lift and/or move up to 25 pounds. Specific vision abilities required by this position include
close vision, distance vision, and the ability to adjust focus. The noise level in the work environment is
usually low to moderate.
NOTE
This job description in no way states or implies that these are the only duties to be performed by the
employee(s) incumbent in this position. Employees will be required to follow any other job-related
instructions and to perform any other job-related duties requested by any person authorized to give
instructions or assignments.
All duties and responsibilities are essential functions and requirements and are subject to possible
modification to reasonably accommodate individuals with disabilities. To perform this job successfully,
the incumbents will possess the skills, aptitudes, and abilities to perform each duty proficiently.
Some requirements may exclude individuals who pose a direct threat or significant risk to the health or
safety of themselves or others.
The requirements listed in this document are the minimum levels of knowledge, skills, or abilities. This
document does not create an employment contract, implied or otherwise, other than an “at will”
relationship.
The company is an Equal Opportunity Employer, drug-free workplace, and complies with ADA
regulations and other laws/regulations as applicable.
Equal Opportunity Employer/Protected Veterans/Individuals with Disabilities
The contractor will not discharge or in any other manner discriminate against employees or applicants because they have inquired about, discussed, or disclosed their own pay or the pay of another employee or applicant. However, employees who have access to the compensation information of other employees or applicants as a part of their essential job functions cannot disclose the pay of other employees or applicants to individuals who do not otherwise have access to compensation information, unless the disclosure is (a) in response to a formal complaint or charge, (b) in furtherance of an investigation, proceeding, hearing, or action, including an investigation conducted by the employer, or (c) consistent with the contractor’s legal duty to furnish information. 41 CFR 60-1.35(c)
