Manager, Foreclosure​/OREO, Loss Mitigation & Bankruptcy

Current job opportunities are posted here as they become available.

This manager will be required to work in our Linthicum, Maryland Headquarters one to two times per week.

At SECU, we put our employees first, recognizing that their well-being and professional development are vital to our success. By fostering a supportive and empowering work environment, our employees are committed to helping members achieve long-term financial security. They are also inspired to give back to the communities we serve by volunteering and spreading kindness, which reflects our core values and who we are as an organization.

Every employee at SECU contributes to our member’s financial well-being, and we’ll always do what’s right for our members, employees, and communities.

Feel good about what you do. Belong to a place where you matter and can make a difference.

The Manager of Foreclosure/OREO, Loss Mitigation and Bankruptcy adheres to regulations and organizational policies, maintaining awareness and knowledge required to perform the duties of the position, including all aspects of the Bank Secrecy Act and related regulations, such as OFAC, and the USA Patriot Act, Fair Lending, Information Security, and NCUA.

• Lead the Real Estate Committee in reviewing complex real estate loan matters such as loan modifications, short sales, foreclosure, bidding instructions and charge off. Determine the financial risk to the credit union and provide this information in written form. Develop recommendations and upon approval for final disposition of delinquent and/or problematic real estate loans and ensure they are resolved in accordance with service agreements, procedures and regulatory requirements.
• Review and update the delinquent portfolio real estate loans that are greater than 90 days past due as well as FHA claim tracker for senior management each month. Attend follow-up meeting to discuss the status and potential strategy to resolve delinquency.
• This team is responsible for identifying delinquency and default action codes which are reported to investors and private mortgage insurance companies each month per servicing requirements.
• Monitor and validate the team files claim for loss to private mortgage insurance companies per guidelines.
• Adhere to FHA Handbook 4000.1 in reference to partial claims, loan modifications, conveyance or claims without conveyance per HUD Handbook 4000.1.
• Prepare recommendations and responsibility, upon approval, for the disposition of delinquent and/or problematic real estate loans and ensure they are resolved in accordance with service agreements, procedures, and regulatory requirements. This includes charge off, settlement of debt, foreclosure, short-sale, deed-in-Lieu, forbearance, deferment, and sale of foreclosed real estate.
• Proactively respond to more complex member issues to satisfy and resolve problems, complaints, etc. within the scope of the credit union’s policies and procedures. Actions may include, but are not limited to loan modifications, legal action, foreclosure, settlements on charge-off accounts.
• Validate that the team is handling files according to portfolio, investor, Fannie, Freddie, FHA and other investors guidelines to ensure the department reduces exceptions and/or they are handled on a day-to-day basis.
• Work closely with the real estate servicing and investor servicing team to ensure that modifications are processed correctly, reinstatement quotes are accurate, escrow analysis is run, funds received are applied correctly and posted in a timely manner.
• Conduct periodic reviews on loan level flag(s) and restrictions for each team to ensure accuracy.
• Work closely with internal and external legal teams to ensure that all foreclosure and loss mitigation cases are…