Univest is seeking a Loss Mitigation Specialist in Souderton, where you will support clients with past due consumer and residential mortgage accounts. The role involves recommending solutions, documenting client hardships, and managing payment arrangements while ensuring compliance with relevant laws and regulations.
Responsibilities
- Contact consumer and residential mortgage clients that are past due to help resolve their delinquency and documenting what caused their hardship
- Partners with Manager of Consumer and Mortgage Collections and recommends forbearance, repayment, or modification options, whichever best applies to the situation. If unable to enter repay, has the ability to work with clients on liquidation options such as short sale or deed-in-lieu
- Enter information into the collection system and follow-up on payment commitments
- Recommend course of action to be taken on problem accounts
- Prepare and send collection letters
- Possess an understanding of the loss mitigation waterfall according to Fannie or Freddie guidelines
- Order property inspections, judgement searches and property evaluations on delinquent mortgages
- Understand the legal steps needed to collect on delinquent loans
- Identify and mitigate potential risks to the Bank; interact with Bank personnel, debtors and others pertaining to such issues
- Effectively work with and support other departments in the bank, including loan operations and mortgage servicing
- Accountable for compliance with laws and regulations that apply to this position including the Univest Code of Conduct
- Perform other duties as assigned
Skills
- Bachelor's degree preferred, Associates degree or equivalent acceptable
- Minimum 1-3 years' experience in financial services and, specifically, interaction with bank customers
- General knowledge of bank operations, policies, procedures, and products and of applicable compliance issues
- A detail-oriented person with basic working knowledge of loan documents, loan restructuring, and loan terms
- Excellent telephone communication skills
- Excellent administrative and organizational skills, ability to systematically track and follow-up on payment arrangements
- Proficiency in MS Office products
- Prefer experience in residential or consumer collections, including Fannie Mae, Freddie Mac and the Fair Debt Collection Practices Act
Benefits
- Health Insurance: Medical, dental and vision coverage (single or family; begins the first of the month following start date)
- Retirement Plan: Participation in 401(k) plan with up to a 3% employer match after 6 months of employment
- Paid Time Off (PTO): 15 days annually (prorated your first year)
- Short Term Disability: 10 days annually of sick time with a doctors note (prorated your first year)
- Holiday Time Off: 11 paid holidays
- We offer company paid life insurance: as well as other supplemental insurances
- Tuition reimbursement
- Employee Wellness programs: including fitness club discounts and fitness tracker discounts/ annual reimbursement
- Discounts: on loan products
- Professional development trainings
Company Overview
Univest is a regional bank that provides financial solutions for individuals, businesses, municipalities and nonprofit organizations. It was founded in 1976, and is headquartered in Souderton, Pennsylvania, USA, with a workforce of 501-1000 employees. Its website is http://www.univest.net/.
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