Loss Mitigation Associate (Durham)

About the role

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. This role develops delinquency controls and effective collection techniques, delinquency letters, and collection calls for members protected under the Servicemembers Civil Relief Act (SCRA) and ensures compliance with state and federal regulations.

Responsibilities

• Ensure compliance with state and federal regulations.
• Understand and follow policies and procedures regarding loss mitigation processes for Mortgage Loan, real estate secured loans, Consumer Loans, and Credit Cards.
• Access, document, and track delinquency reports for home loans, home equity loans, consumer loans, and credit cards in LCCU systems.
• Check for delinquent accounts, maintenance, and processing errors that can make a loan appear delinquent; identify and correct errors.
• Analyze accounts to identify appropriate next steps based on account types, amount owed, transfer of funds, minimum balance, credit rating, and collateral value.
• Process all collections correspondence accurately and document collection efforts.
• Keep notes of delinquency efforts up to date in collection systems, ensuring they are legally defensible and regulator-ready.
• 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 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 regarding delinquency and scanned documents.
• Perform other administrative duties as needed.
• Successfully complete required compliance training courses (BSA/Identity Theft, SCRA, UDAAP, ECOA – Regulation B, FCRA – Regulation V, North Carolina General Statutes) on an annual basis.

Requirements

• High School degree and minimum 0 to 1 years of 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.

Skills

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

Benefits

• Competitive salary and benefits package.
• Employer-paid medical insurance plan.
• 401(k) plan with a substantial company match.
• Employer-paid life and disability plan.
• Generous paid time off to maintain a healthy work/life balance.
• Challenging and friendly work environment.
• Culture that encourages creativity, collaboration, and career growth.

About Us

LCCU is a multicultural team with employees from 20 different countries. We foster a culture that embraces and learns from our differences, with constant organizational initiatives. We are motivated to learn, grow, and make a positive difference in our community.