Debt Resolution Specialist

Debt Resolution Specialist Primary Duties and Responsibilities

Primary duties include handling all collection issues, managing bankruptcy and loss mitigation processes, and reviewing loan restructuring options.

The Debt Resolution Specialist is responsible for handling all collection issues including, but not limited to, the entire process for both bankruptcies and loss mitigation. This role will follow up on accounts from preliminary phone calls through foreclosure as necessary. In conjunction with the Debt Resolution Manager, the specialist will review and recommend loan restructuring on defaulted and at‑risk residential loans.

The Specialist is expected to maintain knowledge on relevant loss mitigation best practices, the credit union’s policy, and service guidelines (FHLMC) to perform this role effectively.

• Proactively contact delinquent borrowers to discuss hardships and available options
• Handle all serious collection matters, ensuring effective management from the initial stages through resolution
• Facilitate the bankruptcy process, addressing each phase with diligence and accuracy
• Review borrower financial documents (pay stubs, tax returns, bank statements) to assess ability to pay
• Recommend and implement strategies such as loan modifications, deferrals, forbearance plans, or short sales
• Collect, verify, and process required paperwork, ensuring accuracy and completeness
• Understand and adhere to investor guidelines (FHA, VA, Fannie Mae, Freddie Mac) and federal/state mortgage laws
• Maintain detailed and accurate records of all communications and actions
• Analyze borrowers’ financial information to determine Loss Mitigation eligibility, including ordering valuations, running credit reports, property searches, etc.
• Prepare recommendations and memo/loss mitigation review sheet for management review
• Prepare appropriate documentation based on application approval
• Monitor the execution of loss mitigation agreements, processing and filing in accordance with investor and GECU policy
• Create and maintain management reports of all Loss Mitigation activity and progress
• Maintain accuracy of tracking reports of all loss mitigation activity
• Interact with investors and MI companies to synchronize the loss mitigation process for serviced and insured loans
• Prepare legal decision worksheet for management to approve loans for foreclosure
• Submit delinquency reporting for Freddie Mac loans and loans with private mortgage insurance
• Serve as a back up to the Escrow Specialist as needed

• High school diploma or GED required; associates degree in finance or business preferred
• At least 2 years of experience in loss mitigation/bankruptcy/escrow and reviewing financial information required

• Extensive knowledge in financial analysis and Loss Mitigation practices; well‑rounded knowledge of foreclosures and bankruptcies
• Extensive knowledge of Freddie Mac (FHLMC) servicing/loss mitigation guidelines
• Solid analytical skills with proven ability to convert large amounts of data into meaningful recommendations
• Proficient computer skills with the ability to learn multiple systems
• Effective oral and written communications skills
• Ability to maintain a calm demeanor when dealing with emotional/distressed borrowers
• Detail oriented with strong organizational skills
• Knowledge of escrow is preferred

• Health, Dental, and Vision insurance
• Life and Disability insurance options
• Paid Time Off starts accruing once hired and includes paid birthday off
• 401(k) Retirement plan with up to a 10% match of base gross compensation
• Tuition reimbursement opportunities & professional development
• Volunteer opportunities - and earn additional PTO hours
• On-site clinics for vaccines and mammograms

General Electric Credit Union is an Equal Opportunity Employer.