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Open nowPosted 4 days ago

Loss Mitigation Workout Specialist

S&T Bank81 open roles

Where
North Fifth Street
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Your applicationOpen nowLoss Mitigation Workout SpecialistS&T Bank · North Fifth Street
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The clock on this job

Early applications get read.

12.3% of postings close within 7 days. Measured by our own scanner across the market. S&T Bank postings stay open a median of 34 days.

Share of postings closed within
  1. 2.1%1 day
  2. 4.5%3 days
  3. 12.3%7 days
  4. 19.3%14 days
  5. 35.6%30 days
  6. 58.1%60 days
This job: posted 4 days ago

S&T Bank median: 34 days open

The posting

Location:

355 North Fifth Street

Indiana, PA 15701

Hours:

Monday - Friday: 8:00AM - 5:00PM

(Additional hours as necessary to meet the objectives of the department)

Function:

Assists in minimizing the bank’s loan losses by working with customers to identify hardships and loss mitigation options. Serves as a first point of contact for delinquent borrowers. Makes outbound calls concerning collection of delinquent loans and processing bankruptcy proceedings, also handles foreclosures process.

Duties and Responsibilities:

  • Works with customer to identify loss mitigation opportunities for long term resolution to delinquent loan relationships.
  • Primarily responsible for handling portfolio Loss Mitigation hardship requests, applications, and working with the customer through out the process. Maintains and handles all Loss Mitigation hardship processes and updates procedures when appropriate.
  • Will monitor and assist in the short-term payment relief process, including handling initial inquiries, completing documentation and coordinating with branch partners as needed.
  • Knowledge of trial/forbearance/repayment plan agreements, modifications, pre-foreclosure sales (short sales) and Deed-in-Lieu of Foreclosure.
  • Handles the entire mortgage foreclosure process, as directed. This includes preparing and sending the Act 91 Notices, as well as preparing sheriff sale bid sheets for analysis on final decision on foreclosure.
  • Must learn and become familiar with the PACER system, which tracks all bankruptcy files for the court systems.
  • Identify and reviews bankruptcy accounts and takes action as needed to protect the company’s interests. Actively prepares and files all bankruptcy documentation as required and corresponding with attorneys as needed.
  • Contact and interact with delinquent borrowers to review different options to foreclosure and determine repayment.
  • Enforce loan workouts, forbearance, stipulations, modifications as well as deed in lieu transactions adhering to policies and procedures
  • Prepares written correspondence and related documents regarding delinquent loan payments.
  • Collaborates with various support departments within servicing to identify needs and deliver results while meeting deadlines in a professional manner
  • Obtain credit reports, property condition reports, appraisals, inspections, surveys and title work. Identify situations where foreclosure is recommended
  • May assists with internal and external audit requests.
  • Interfaces and coordinates with attorneys, judges, magistrates, realtors, repossession collection agencies, financial institutions, and any vendor as needed. In addition, attends court hearings to represent the company.
  • Maintains a good working relationship with all bank employees. Demonstrates the ability to work independently. Works as a team player to contribute to the success of the department and in turn the organization.
  • Be cognizant of UDAAP and any other regulations during contact with customers.
  • Performs additional duties as required.

Education:

Requires a high school diploma or equivalent basic academic education. Needs to obtain NMLS licensing.

Experience:

Requires two to five years of general experience.

Physical Demands:

Operates a keypad device, or electronic and office equipment 87% of the day; 87% of the day. Sitting is required 87% of the day. Performs daily tasks with the use of manual dexterity skills for both typing and filing on frequent basis up to 60% of the business day. Must be able to focus visually at a close distance of 18”-20” for a period of up to 40% of the business day.

Equal Opportunity Employer/Protected Veterans/Individuals with Disabilities

The contractor will not discharge or in any other manner discriminate against employees or applicants because they have inquired about, discussed, or disclosed their own pay or the pay of another employee or applicant. However, employees who have access to the compensation information of other employees or applicants as a part of their essential job functions cannot disclose the pay of other employees or applicants to individuals who do not otherwise have access to compensation information, unless the disclosure is (a) in response to a formal complaint or charge, (b) in furtherance of an investigation, proceeding, hearing, or action, including an investigation conducted by the employer, or (c) consistent with the contractor’s legal duty to furnish information. 41 CFR 60-1.35(c)

Salary Range:

$16.23 - $33.32

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