Loss Mitigation Specialist

Essential Functions & Key Areas of Responsibility

• Perform all duties in accordance with company guidelines, the Fair Debt Collections Practices Act, and all applicable federal, state and local regulations.
• Contact customers regarding all facets of loan collections.
• Process problem reports on all non‑performing loans and report as required to the Internal Asset Review Committee and Board of Directors.
• Monitor all foreclosure and REO properties such as inspections and property preservation duties.
• Respond to customer inquiries regarding defaults and work out or loss mitigation options, including sending requests for financial information while maintaining customer electronic contact collection logs.
• Educate borrowers on all options that include home retention and liquidation.
• Act as a liaison between the mortgagor, counsel and, in some cases, a realtor or third party.
• Gather all required documentation for government and internal loan modification, forbearance plans, repayment plans, reinstatements, short sales, deeds‑in‑lieu of foreclosure, short payoffs and other possible workouts.
• Recover losses through filing claims with investors and have complete knowledge of all claim systems.
• Monitor and perform frequent follow‑up with borrowers on trial modifications to ensure conversion.
• Assist the lending department in troubled debt restructuring and modifications as needed.
• Monitor and perform collection tasks related to the daily delinquent loan report.
• Coordinate with vendors used specifically for foreclosures, real estate owned properties and repossessions.
• Obtain credit reports for collection purposes.
• Obtain appraisals or other property evaluations as needed.
• Prepare foreclosure packages to send to counsel and/or investor to initiate foreclosure.
• Perform other related duties as assigned.

Opportunity Bank of Montana is an equal opportunity employer. It is the policy of Opportunity Bank to provide equal employment opportunity within the Bank and motivate cooperation toward the goal of hiring and promoting available qualified personnel without regard to their race, gender, color, national origin, sex, age, religion, disability, veteran status, marital status, sexual orientation, or any other legally protected status.

Preferred:
Associates or better in Business Administration or related field.

Preferred: 2 years of relevant job experience; or equivalent combination of education & experience.

Equal Opportunity Employer. This employer is required to notify all applicants of their rights pursuant to federal employment laws. For further information, please review the Know Your Rights notice from the Department of Labor.