Repossession Specialist
About the role
LMCU is looking for a Repossession Specialist who will be responsible for preserving the Credit Union’s assets by controlling delinquent loan accounts, collecting delinquent loan payments and/or recovering collateral.
Responsibilities
- Contacts delinquent accounts by phone and mail;
- takes appropriate action to bring current or seize LMCU collateral;
- Analyzes financial situation of delinquent borrowers and values the collateral in which LMCU holds a secured interest;
- Provides recommendations to management for either Loan Work Out with Members or that collateral needs to be repossessed;
- Attends auctions as needed to ensure LMCU is getting the most value on all repossessed collateral and maintains accurate reports showing all existing LMCU collateral with proper PVGL amounts;
- Informs management of trends in loan underwriting contributing to delinquent/charged off loans;
- Surens that LMCU is obtaining a minimum of 90% of all PVGL amounts for all repossessed collateral.
Requirements
- Two years of similar or related experience;
- Prior experience working for a credit union;
- Excellent written and verbal communication skills.
Benefits
All Employees: weekly pay and retirement savings options.
Full Time Employees: comprehensive health coverage including medical (with prescription), dental, vision, HSA match, paid parental leave, and tuition reimbursement.
Pay
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Schedule
N/A
Qualifications
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Skills
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Benefits
To see a full list of our benefit offerings, check out this helpful guide!
Contact Information
If you lack access to the internet or require an accommodation in the application process, please send your resume via mail to P.O. BOX 2848, Grand Rapids, MI 49501-2848. LMCU is an Equal Opportunity Employer.