Loss Mitigation Specialist

The Role

Live here. Play here. Bank here. Work here. If you’re looking to build your career at a forward-thinking organization with deep community roots and a vision for growth, success, and giving back, you’ve come to the right place.

About the role

We’re your local community bank—and have been since 1875—that is committed to providing excellent customer service and giving back to our communities. We foster a collaborative, inclusive work environment as part of a close-knit team where your voice is valued and heard. Our highly engaged employees are rewarded for their performance and have ample opportunities for cross-training and advancement within the organization.

We’ve been named one of the best places to work in Maine, and offer robust benefits focused on your holistic well-being.

Responsibilities

• Contact severely delinquent borrowers on serviced and bank-owned loans to determine causes of delinquency.
• In the event of an incurable default, work with borrowers to liquidate their homes in an expeditious and cost-effective manner.
• Follow the account throughout the loss mitigation process from first contact through eventual claim (if appropriate).
• If the borrower is uncooperative, or otherwise unable to qualify for a loss mitigation alternative, present the file to the team leader and/or the Holder of the mortgage for approval to refer the matter to an attorney for foreclosure.
• Potential to be involved in the court-mandated mediation program is a distinct possibility.
• Will also be involved in the oversight of property management, including review of property inspection reports, appropriate action to preserve and protect properties following the published guidelines of the Holder and/or any mortgage insurance company that may be involved in the loan.
• Shadow and cross-train with the team leader in an ongoing effort to expand their knowledge and utility to the Bank.
• May also include the calling of delinquent Borrowers for payments on loans running from 15 – 90 days past due, depending on department staffing.

Qualifications

• Two year college degree or equivalent experience.
• Three to five years of collections, underwriting or home ownership counseling experience is preferred.

Benefits

Our comprehensive total rewards package offers something for everyone!

• Robust medical, dental, and vision insurance packages
• Generous time off, including paid federal holidays and paid day off for your birthday
• 401(k) retirement savings plan
• Tuition reimbursement, professional development, and career growth opportunities
• Employee assistance program
• Comprehensive wellness program

Schedule

Our schedule is flexible and accommodating to your needs.

Pay

Compensation is competitive and commensurate with experience.

Benefits

Our benefits package includes:

• Medical, dental, and vision insurance
• Paid federal holidays and paid day off for your birthday
• 401(k) retirement savings plan
• Tuition reimbursement, professional development, and career growth opportunities
• Employee assistance program
• Comprehensive wellness program

Skills

A basic knowledge of practical home ownership is encouraged.

Requirements

• Ability to read and comprehend simple instructions, short correspondence, and memos.
• Ability to write simple correspondence.
• Ability to effectively present information in one-on-one and small group situations to customers, clients, and other employees of the organization.
• Ability to add, subtract, multiply, and divide in all units of measure, using whole numbers, common fractions, and decimals.
• Ability to compute rate, ratio, and percent and to draw and interpret bar graphs.
• Ability to apply common sense understanding to carry out detailed but uninvolved written or oral instructions.
• Ability to deal with problems involving a few concrete variables in standardized situations.
• Knowledge of Internet software; Excel Spreadsheet software and Word Processing software.

Physical Demands

The physical demands described here are representative of those that must be met by an employee to successfully perform the essential functions of this job. The noise level in the work environment is usually moderate.

Work Environment

The work environment characteristics described here are representative of those an employee encounters while performing the essential functions of this job. The noise level in the work environment is usually moderate.

Equal Opportunity Employer

Camden National Bank is an Equal Opportunity Employer and does not discriminate on the grounds of race, color, religion, sex, sexual orientation, including gender identity and gender expression, national origin, citizenship status, age, disability, genetic information or veteran status.