Sr. Collections Specialist

Job Summary

Under the supervision of the Collections Manager, performs a variety of financial and regulatory tasks to collect delinquent residential, consumer, and commercial loans, ensuring compliance with all state and federal lending regulations.

This is a hybrid position reporting to the Bank’s main office in South Easton, MA, requiring 2–3 days per week onsite. Only candidates currently located within a reasonable commuting distance will be considered.

• Perform collection activities on all residential and consumer loans serviced, including participation and investor loans, in adherence to all applicable federal, state, and local regulations, investor guidelines, mortgage insurance guidelines, and servicing agreements.
• Review delinquent accounts to ensure payments are properly credited in compliance with state and federal lending regulations. Include review of the unapplied report.
• Contact customers regarding delinquent accounts according to schedules established by the Bank or investors by telephone, letters, and personal visits.
• Research lost checks and payments and recommend account updates based on research.
• Provide recommendations for repossessions, charge‑offs and foreclosures to the Collections Manager.
• Under the guidance of the Collections Manager, coordinate legal action with attorneys.
• Ensure the Bank’s reporting to the credit bureaus is accurate.
• Process all inquiries regarding credit reporting through E‑Oscar, ensuring the response is processed within regulatory guidelines.
• Order property inspections and valuations on past‑due loans and delinquent tax loans. Work with vendors on securing collateral, including OREO properties and vehicles.
• Recommend and negotiate loan modification and other loss‑mitigation solutions as appropriate. Underwrite the hardship packages in accordance with Bank guidelines, investor guidelines, and PMI guidelines, when applicable.
• Assist in the preparation of all delinquency and collection area reports for management and the Board.
• Ensure that all collection activities are properly conducted and documented. All documentation is maintained and held in accordance with the retention guidelines.
• Process monthly default reporting within the established guidelines for all investor, participation, and Private Mortgage Insurance companies.
• Review and update monitoring of non‑escrow delinquent real estate taxes on a quarterly basis; conduct follow‑up as necessary until the issue is resolved. Participate in the delinquent tax review quarterly meeting.
• File small claims actions and represent the Bank at court proceedings on delinquent or charged‑off loans.
• Monitor and manage accounts with customers in bankruptcy. Update the core system accordingly for accurate reporting.
• Obtain appraisals on delinquent real estate or OREO (Other Real Estate Owned) properties per practice.
• Assist the Collections Manager with facilitating the preservation and disposition of OREO property.
• Assist in the preparation for the sale of repossessed collateral per Bank policy.
• Utilize the Bank’s collection platform to create efficiency in monitoring and improve reporting.
• Maintain thorough knowledge and understanding of Bank policies, procedures, guidelines, and philosophies. Ensure compliance with all applicable federal, state, and local regulations, including but not limited to:
  Fair Debt Collections Practices Act, 940 CMR 7.00, MGL Chapter 194, UDAAP, RESPA, Flood Disaster Protection Act, Fair Credit Reporting Act, Regulation Z, Regulation B, Bank Secrecy Act, Regulation P, and Service Members Civil Relief Act of 2003.
• Assist in loan servicing activities and other duties as assigned.

• Bachelor’s degree preferred; high school diploma or equivalent coupled with…