Loss Mitigation Associate (Durham)

Loss Mitigation Associate - Collections

LCCU is hiring! The Loss Mitigation Associate - Collections is responsible for understanding and following policies and procedures regarding loss mitigation processes for Mortgage Loan and all real estate secured loans, Consumer Loans, and Credit Cards. The Loss Mitigation Associate - Collections will develop delinquency controls and effective collection techniques, delinquency letters, and collection calls for members protected under the Servicemembers Civil Relief Act (SCRA) and ensure compliance with state and federal regulations. Handling special situation. Process correspondence for the collections department, provide general administrative support, and maintain accurate records.

As a vital member of the LCCU team, your responsibilities include the following:

• Ensure compliance with state and federal regulations.
• Understand and follow policies and procedures regarding loss mitigation processes for Mortgage Loan and all real estate secured loans, Consumer Loans, and Credit Cards.
• Access to delinquency reports for home loans, home equity loans, consumer loans, and credit cards is accessed, documented, and tracked in our LCCU systems.
• Check for delinquent accounts, maintenance, and processing errors that can make a loan appear delinquent for home loans, home equity loans, consumer loans, and credit cards in our LCCU system. Identify errors and correct them.
• Analyze accounts to identify appropriate next steps based on factors such as account types, amount owed, transfer of funds, minimum balance, credit rating, and collateral value.
• Process all collections correspondence accurately.
• Collection efforts must be documented. Keep notes of delinquency efforts up to date in collection systems and enter data into the credit union's collection system.
• Ensure that the notes can be used in a court of law and can be reviewed by regulators.
• Respond to phone calls related to payment advice and delinquent accounts.
• Supervise the sending of payment advice, detecting and correcting credit union errors in a timely manner.
• Provide members with a full explanation of the loan status as requested.
• Follow up on delinquent loans and make calls for interest, partial or full payments.
• Maintain a detailed written record of all communications made regarding delinquency and scanned documents.
• Perform other administrative duties as needed.

Required Courses:

Responsible for successfully completing required compliance training courses (BSA/Identity Theft) on an annual basis.

• Servicemembers Civil Relief Act (SCRA).
• Unfair, Deceptive, and Abusive Acts and Practices (UDAAP).
• Equal Credit Opportunity Act (ECOA) Regulation B.
• Fair Credit Reporting Act (FCRA) Regulation V.
• Servicemembers Civil Relief Act (SCRA).
• North Carolina General Statutes.

Requirements

Curious about joining our LCCU team? Here's what you'll need to bring along:

• High School degree and minimum 0 to 1 years related/office experience preferred.
• Excellent verbal and written communication skills in Spanish, and English.
• Proficiency in Microsoft Office and other computer software, including email functions.
• Proficiency in using collection systems and generating reports.
• Excellent organizational and administrative skills.
• Ability to handle sensitive and confidential information.
• Proficiency in using office software and equipment.
• Previous experience in a similar role is preferred.

Competencies:

• Attention to detail and accuracy in work.
• Ability to work independently and as part of a team.
• Strong communication skills, both written and verbal.

LCCU is the perfect fit for you if:

• You are motivated to learn and grow into the best version of your professional and personal self.
• Your core values resonate with pursuing meaningful results to make a positive difference in your community.
• You thrive in an environment with team members who work from the heart. With employees from 20 different countries, we are a fun and multicultural team that comes together to embrace and learn from our differences. Organizational initiatives are constant.

What does LCCU have to offer you?

We provide a challenging and friendly work environment as well as a competitive salary and benefits package, including an employer-paid medical insurance plan, 401(k) plan (with a substantial company match), employer-paid life and disability plan, and generous paid time off to maintain a healthy work/life balance.

We foster a culture that incites creativity, encourages collaboration, and provides the opportunity for our employees to be their best and build their careers. Don't wait! Come and experience the purpose that comes with being part of the movement towards a stronger, more inclusive community.