Credit Collection Specialist
Washington Trust Bank is seeking a Credit Collection Specialist responsible for collecting past due loans across various categories including real estate and small business loans. The role involves contacting delinquent customers, recommending legal actions, and implementing loss mitigation activities while ensuring compliance with investor requirements.
Responsibilities
- Contacts delinquent customers by phone and mail
- Recommends legal action where appropriate
- Meets deadlines with respect to investor requirements on delinquent RE loans
- Works in the recovery of bad debt and charged off loans
- Recommends loss mitigation procedures to prevent foreclosure, as appropriate
- Recommends loans for charge down or charge off
- Identifies problem loans for intervention
- Begins loss mitigation procedures to prevent foreclosure
- Submits request to investors for approval of Modifications, Deed in Lieu, & Short Sales in accordance with investor requirements and within established timelines
- Has strong knowledge of bank loan documents and definitions and a clear understanding of default and the remedies available to cure
- Adheres to required timelines for various notifications of default and trustee sale including breach letters, correct documents to attorney, close follow up with attorney for subsequent notices and trustee sale notification
- Analyses and prepares process checklist including appraised value, past due taxes, other liens, and expenses to determine value and creditor’s bid at Trustee’s Sale
- Assists in preparing monthly reporting to investors and mortgage insurers of the status of past due loans
- Recommends loss mitigation efforts and/or re-structuring options
- Has strong knowledge of loan documents and definitions and a clear understanding of default and the remedies available to cure
- Assists in preparing monthly reports as to charge-off status and recoveries
- Recommends loans for charge-off or charge-down
Skills
- Ability to understand bankruptcy law, real estate law, and civil law
- Ability to communicate effectively with attorneys as a knowledgeable creditor, serves as an informed advocate for the bank when dealing with attorneys for the bank and for the customer
- Ability to understand basic legal terms and concepts
- Ability to analyze appraisals
- Be able to understand bank loan documents and legal terminology contained therein so that the rights of the bank are protected in legal matters
- Knowledge of RCW laws and regulations as well as Federal Disclosure Requirements and the compliance requirements under the Fair Debt Collection Act
- Ability to communicate effectively with customers both orally and written
- Ability to analyze property appraisals and BPO's for accuracy with a clear understanding of appraisal terminology
- Ability to work as a team player and work closely with collection staff
- Regular, reliable attendance is required
Benefits
- Health
- Financial
- Retirement
- Work/Life Benefits
Company Overview
Company H1B Sponsorship