Loss Mitigation Team Lead

Location
Herndon, Virginia
Posted
Nov 10, 2022
Closes
Dec 10, 2022
Ref
2152
Function
Finance
Hours
Full Time
Overview

The primary function of the Loss Mitigation Team Leader role is to provide leadership and direction to the Loss Mitigation Department. This role is also responsible for the planning, organizing and directing of loss mitigation efforts for the Credit Union to ensure all operations are in accordance with established policies, procedures and legal requirements.

Responsibilities

  • Supervises 9-10 employees within the Loss Mitigation Department
  • Responsible for the Loss Mitigation team's production and post charge off recovery dollars for charged off loans
  • Analyzes and resolves referred accounts from the team and determines the best course of action giving special attention to loss prevention, loss calculations and predictions
  • Have a working knowledge of Fannie Mae and Freddie Mac collection guidelines
  • Coordinate all aspects of the foreclosure and/or judgement process including the ability to assess the availability of Private Mortgage Insurance and file claims as warranted
  • Act as the liaison for all indirect investors
  • Verify accuracy for charged off loans to ensure all steps are within the state and investor regulations
  • Oversee the Financial Needs process to ensure all documentation is received and accurately presented to the Financial Needs Committee
  • Oversee the credit dispute process for all consumer and mortgage loans to include credit cards
  • Handle escalated questions or complaints
  • Meets with direct reports on a consistent basis to review standard quality of work
  • Writes and conducts annual performance reviews
  • Must have the ability to use discretion in your work
  • Remains cognizant of and adheres to NWFCU policies, procedures and regulations pertaining to the Bank Secrecy Act (BSA)

Qualifications

Required:

  • High school diploma or equivalent
  • Minimum 5 years of collections or loss mitigation experience
  • Minimum 2 years of management experience
  • Working knowledge of Fannie Mae and Freddie Mac collection guidelines
  • Working knowledge of FDCPA (Fair Debt Collection Practices Act)
  • Working knowledge of Microsoft Office and databases

Preferred:
  • Collections experience working in a financial institution
  • Mortgage servicing experience working in a financial institution
  • Working knowledge of TCPA (Telephone Consumer Protection Act) Compliance

EEO Notice

Northwest Federal Credit Union is an Equal Opportunity Employer and will consider all qualified applicants without regard to race, color, age, religion, sex, sexual orientation, gender identity, genetic information, national origin, disability, protected veteran status or any other classification protected by law.

NWFCU complies with federal and state disability laws and makes reasonable accommodations for applicants and employees with disabilities. If reasonable accommodation is needed to participate in the job application or interview process, to perform essential job functions, and/or to receive other benefits and privileges of employment, please contact the Human Resources Department at 703-709-8900 or HRDepartment@nwfcu.org.

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