What are the responsibilities and job description for the Real Estate Collections Specialist position at OnPoint Community Credit Union?
Overview
The Real Estate Collections Specialist will leverage their real estate knowledge alongside collections expertise to recover past-due payments on delinquent real estate loans. This individual will play a key role in minimizing financial losses and ensuring the ongoing health of the Credit Union’s loan portfolio.
Responsibilities
We encourage you to apply if you're passionate about this opportunity and have the core qualifications. Your unique experiences and skills are what make you a strong candidate. Don’t let imposter syndrome hold you back! Our recruitment process is designed to be inclusive and accessible to all. If you need any accommodations during the application or interview stage, please let us know. We're dedicated to providing what's necessary to ensure a fair and inclusive experience.
The Real Estate Collections Specialist will leverage their real estate knowledge alongside collections expertise to recover past-due payments on delinquent real estate loans. This individual will play a key role in minimizing financial losses and ensuring the ongoing health of the Credit Union’s loan portfolio.
Responsibilities
- Manage a caseload of delinquent real estate loan accounts.
- Research and analyze loan files to understand the root cause of delinquencies.
- Communicate professionally and empathetically with borrowers to discuss payment options and negotiate repayment plans.
- Offer resources and support to help borrowers get back on track financially.
- Analyze loans for potential loan modifications and deferrals including re-amortizing loans.
- Collaborate with appraisers and legal counsel as needed to assess collateral value and pursue appropriate legal action.
- Maintain accurate and detailed records of all collection efforts for each account.
- Identify early signs of potential delinquency and proactively reach out to borrowers to discuss preventative measures.
- Manage the pre-foreclosure process, including sending default notices and communicating foreclosure timelines.
- Assist with the eviction process, working with legal counsel and property management companies.
- Manage the process of repossessing and selling foreclosed properties to minimize losses.
- Stay up-to-date on real estate market trends and foreclosure laws.
- Ensure adherence to all federal and state fair debt collection practices regulations (FDCPA).
- Maintain detailed records of all communication with borrowers to ensure compliance with legal requirements.
- Maintain a professional and courteous demeanor when interacting with borrowers facing financial hardship.
- Update reporting monthly for FHA, VA, FNMA, Freddie Mac and PMI companies.
- Review construction liens, delinquent HOA dues and tax notices.
- Review documents to determine Successors IN Interest and Personal Representatives; follow up to discuss available options.
- Strong analytical and problem-solving skills.
- Excellent communication and interpersonal skills, with the ability to build rapport in sensitive situations.
- Negotiation and conflict resolution skills.
- Ability to work independently and manage multiple tasks simultaneously.
- Strong attention to detail and accuracy.
- Thorough knowledge of real estate collection policies and procedures, as well as applicable regulations and laws pertaining to collections. Experience in a financial institution preferred.
- Real Estate Loss Mitigation workout experience with FHA, VA, FNMA and Freddie Mac highly preferred.
- High school diploma or equivalent required.
- Minimum of 3 years of experience in real estate collections or a related field.
- Minimum of 2 years of experience in Real Estate Loss Mitigation workout with FHA, VA, FNMA and Freddie Mac preferred.
- Working knowledge of real estate terminology required
- Proficiency in Microsoft Office Suite and collections software.
We encourage you to apply if you're passionate about this opportunity and have the core qualifications. Your unique experiences and skills are what make you a strong candidate. Don’t let imposter syndrome hold you back! Our recruitment process is designed to be inclusive and accessible to all. If you need any accommodations during the application or interview stage, please let us know. We're dedicated to providing what's necessary to ensure a fair and inclusive experience.
