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Credit Collection Specialist
Credit Collection SpecialistWashington Trust Bank • Spokane, WA, United States
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Credit Collection Specialist

Credit Collection Specialist

Washington Trust Bank • Spokane, WA, United States
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  • [job_card.full_time]
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Description

This position is responsible for the collecting of past due investor, portfolio, small business and consumer real estate loans.

The Credit Collection Specialist assists in the collection of past due installment loans, Home Equity lines of credit, credit cards, Home Mortgages and charged off checking accounts. The role may also assist with collection efforts Small Business Banking loans and Visa business credit cards. Complies with investor servicing requirements and status reporting to investors. Implements loss mitigation activities when appropriate. Accurately documents conversations and reasoning behind actions taken. Assists in the collection of accounts that have been charged off.

Location : 717 W Sprague Ave, Spokane, WA 99201

Schedule : Monday thru Friday, Dayshift hours. Eligible for a hybrid schedule after initial training.

Essential Functions

  • Contacts delinquent customers by phone and mail
  • Recommends legal action where appropriate
  • Meets deadlines with respect to investor requirements on delinquent RE loans
  • Works in the recovery of bad debt and charged off loans

Real Estate Loans

Recommends loss mitigation procedures to prevent foreclosure, as appropriate.

  • Recommends loans for charge down or charge off.
  • Identifies problem loans for intervention.
  • Begins loss mitigation procedures to prevent foreclosure
  • Submits request to investors for approval of Modifications, Deed in Lieu, & Short Sales in accordance with investor requirements and within established timelines.
  • Has strong knowledge of bank loan documents and definitions and a clear understanding of default and the remedies available to cure.
  • Adheres to required timelines for various notifications of default and trustee sale including breach letters, correct documents to attorney, close follow up with attorney for subsequent notices and trustee sale notification.
  • Analyses and prepares process checklist including appraised value, past due taxes, other liens, and expenses to determine value and creditor's bid at Trustee's Sale.
  • Assists in preparing monthly reporting to investors and mortgage insurers of the status of past due loans.
  • Other Loan types

    • Recommends loss mitigation efforts and / or re-structuring options

  • Has strong knowledge of loan documents and definitions and a clear understanding of default and the remedies available to cure.
  • Assists in preparing monthly reports as to charge-off status and recoveries
  • Recommends loans for charge-off or charge-down

    • Requirements

  • Ability to understand bankruptcy law, real estate law, and civil law.
  • Ability to communicate effectively with attorneys as a knowledgeable creditor, serves as an informed advocate for the bank when dealing with attorneys for the bank and for the customer.
  • Ability to understand basic legal terms and concepts.
  • Ability to analyze appraisals.
  • Be able to understand bank loan documents and legal terminology contained therein so that the rights of the bank are protected in legal matters.
  • Knowledge of RCW laws and regulations as well as Federal Disclosure Requirements and the compliance requirements under the Fair Debt Collection Act.
  • Ability to communicate effectively with customers both orally and written.
  • Ability to analyze property appraisals and BPO's for accuracy with a clear understanding of appraisal terminology.
  • Ability to work as a team player and work closely with collection staff.
  • Regular, reliable attendance is required.

    • Pay Range : $19.8708 - $29.8329

    The compensation range represents the low and high end of the base compensation range for this position located in Spokane, WA. Actual compensation will vary and may be above or below the range based on various factors including but not limited to location, experience, and performance.

    What Our Culture Can Offer You :

    Our benefit philosophy is to provide you with a comprehensive package to secure your overall wellness and help you become and remain a fulfilled and productive employee. Our benefits include Health, Financial, Retirement and Work / Life Benefits. We are proud to share an overview of our benefits HERE as part of your total compensation.

    Washington Trust Bank celebrates diversity in the workplace and actively recruits talent to help reflect the unique communities where we live and work. We are proud to be an equal opportunity employer and prohibit discrimination or harassment based on race, religion, sex, gender identity, sexual orientation, national origin, age, pregnancy, disability, genetic information and any other protected characteristics outlined by state, federal and local laws. We believe strength comes from the diverse backgrounds and experiences of our team, and we are dedicated to fostering a supportive and inclusive work environment.

    Equal Opportunity Employer / Protected Veterans / Individuals with Disabilities

    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.

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    Collection Specialist • Spokane, WA, United States

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