Real Estate Loss Mitigation Analyst
Position Number: RE Loss Mit
Location: San Jose Headquarters
The Real Estate Loss Mitigation Analyst is responsible for the administration of delinquent first mortgages and home equity real estate loans. Under the direction of the Vice President Special Assets Manager, the Analyst will be responsible for managing the servicing, collection and liquidation analysis of first mortgages including investor loans, and home equity loans in default. The Analyst will assist in the resolution of troubled debt including negotiation of short sale transactions, the processing of real estate loan work outs under all applicable governmental programs including the Home Affordable Modification Program (HAMP), and foreclosure processes. Finally, the Analyst will assist in research and implementation of departmental projects and initiatives related to collections and loss mitigation.
• Provide quality service in handling and resolving member inquiries.
• Performs detailed analysis of the borrower’s financial situation and recommends appropriate workout solutions.
• Knowledgeable in HAMP, Fannie Mae, and Freddie Mac default servicing. Stays current on procedural and policy changes.
• For TechCU loans, processes loan modification requests in accordance with HAMP and Tech CU policy and procedure. Reports loan modification activity to HAMP and ensures all logs are maintained accurately.
• Ensures collection procedures on delinquent real estate loans are performed in a timely manner and in accordance with established standards and regulations. Effectively discusses foreclosure alternatives with the members.
• Completes property research and risk assessment (including recourse and bankruptcy analysis) and recommends delinquent real estate loans for foreclosure proceedings, specific reserves and/or charge-off.
• Under management direction, coordinates foreclosure activities with outside vendors.
• Communicates with all parties of a 1st and/or 2nd mortgage short sale transaction to negotiate the best settlement for Tech CU. Provides written recommendations to management for review.
• Works with borrowers and realtors in negotiating and finalizing real estate short sale transactions.
• Assists in the research and implementation of departmental projects and initiatives as assigned. Effectively monitors regulatory and statutory changes which affect the department and real estate default servicing.
• Serves as a back-up to the Real Estate Asset Manager as needed.
• Supports management decisions and implements directives as required. Performs other duties as assigned.
• Maintains awareness of departmental workflow and priorities and assists coworkers during month-end/emergency situations as needed.
• Supports and promotes service standards and values of Technology Credit Union.
Supports the Credit Union’s Mission & Vision and Lives the Tech CU Values (Accelerate, Collaborate, Innovate, & Cultivate).
Meets on a monthly basis with manager to discuss goal alignment, performance metrics, and development plans.
Adheres to Policy & Procedure put forth in employee handbook; upholds employee Code of Conduct/Ethics, and ensures confidentiality of the workplace.
The employee will comply with all rules and regulations as defined by applicable regulatory agencies. The employee will also adhere to all internal controls and security measures designed to ensure regulatory compliance with State and Federal laws.
Typically has at minimum:
Education: High School Diploma, a College Degree is preferred. Courses in related business areas necessary to maintain position proficiency.
Experience: 3+ years' increasing experience in related member contact disciplines, including delinquent real estate loan collections, in a credit union or other financial institution.
Solid PC Skills. Proficient in Excel and Word. Strong organization and verbal and written communications skills. Strong sales/service and team orientation. Analytical and knowledgeable of current collection laws and regulations.
Physical Requirements: Ability to sit 90% of the day. Keyboard and read computer screen for 90% of time during which one is seated.
Starting Pay Range: