Debt Resolution Specialist
Primary Duties And Responsibilities
- Proactively contact delinquent borrowers to discuss hardships and available options
- Handle all serious collection matters, ensuring effective management from the initial stages through resolution
- Facilitate the bankruptcy process, addressing each phase with diligence and accuracy
- Review borrower financial documents (pay stubs, tax returns, bank statements) to assess ability to pay
- Recommend and implement strategies such as loan modifications, deferrals, forbearance plans, or short sales
- Collect, verify, and process required paperwork, ensuring accuracy and completeness
- Maintain knowledge on relevant loss mitigation best practices, the credit union’s policy, and service guidelines (FHLMC) to perform this role effectively
Essential Responsibilities
- Maintain detailed and accurate records of all communications and actions
- Analyze borrowers’ financial information to determine Loss Mitigation eligibility, which includes but not limited to ordering valuations, running credit reports, property searches, etc.
- Prepare recommendations and memo/loss mitigation review sheet for management review
- Create and maintain management reports of all Loss Mitigation activity and progress
- Maintain accuracy of tracking reports of all loss mitigation activity
- Monitor the execution of loss mitigation agreements, processing and filing in accordance with investor and GECU policy
- Interact with investors and MI companies to synchronize the loss mitigation process for serviced and insured loans
- Prepare legal decision worksheet for management to approve loans for foreclosure
- Submit delinquency reporting for Freddie Mac loans and loans with private mortgage insurance
- Serve as a backup to the Escrow Specialist as needed
Education And Experience
- A high school diploma or GED required
- An associates degree in finance or business preferred
- At least 2 years of experience in loss mitigation/bankruptcy/escrow and reviewing financial information required
Knowledge, Skills, And Abilities
- Extensive knowledge in financial analysis and Loss Mitigation practices
- Well-rounded knowledge of foreclosures and bankruptcies
- Extensive knowledge of Freddie Mac (FHLMC) servicing/loss mitigation guidelines
- Solid analytical skills with proven ability to convert large amounts of data into meaningful recommendations
- Proficient computer skills with the ability to learn multiple systems
- Effective oral and written communications skills
- Ability to maintain a calm demeanor when dealing with emotional/distressed borrowers
- Detail oriented with strong organizational skills
- Knowledge of escrow is preferred
Benefits
- Health, Dental and Vision insurance
- Life and Disability insurance options
- Paid Time Off starts accruing once hired and take your birthday off
- Paid 401k Retirement plan with up to a 10% match of your base gross compensation
- Tuition reimbursement opportunities & professional development
- Volunteer opportunities - and earn additional PTO hours!
- On-site clinics for Vaccines and Mammograms
- And many more!
About the Role
General Electric Credit Union is a not-for-profit, member-owned full service financial institution headquartered in Cincinnati with branches in Ohio and Kentucky. At GECU, we pride ourselves on maintaining quality service, being an employee-friendly workplace, and developing our team members while teaching you the skills to lead you to career advancement opportunities.
Qualifications
High school diploma or GED required; associates degree in finance or business preferred
Skills
Extensive knowledge in financial analysis and Loss Mitigation practices
Well-rounded knowledge of foreclosures and bankruptcies
Extensive knowledge of Freddie Mac (FHLMC) servicing/loss mitigation guidelines
Solid analytical skills with proven ability to convert large amounts of data into meaningful recommendations
Proficient computer skills with the ability to learn multiple systems
Effective oral and written communications skills
Ability to maintain a calm demeanor when dealing with emotional/distressed borrowers
Detail oriented with strong organizational skills
Knowledge of escrow is preferred
Benefits
- Health, Dental and Vision insurance
- Life and Disability insurance options
- Paid Time Off starts accruing once hired and take your birthday off
- Paid 401k Retirement plan with up to a 10% match of your base gross compensation
- Tuition reimbursement opportunities & professional development
- Volunteer opportunities - and earn additional PTO hours!
- On-site clinics for Vaccines and Mammograms
- And many more!