Loss Control Specialist; Durham

Description

LCCU is hiring!

The Loss Control Specialist will review and process Foreclosures, Bankruptcies, Legal collections and charge-off accounts for defaulted loans submitted by Loss Mitigation and Collateral Administration departments and serves as a resource person for Credit union personnel who have questions related to these topics. Provides support to the Loss Mitigation Manager with special projects/assignments. Ensure the areas are complying with current laws and procedures and all duties are being managed in a timely manner.

• Flag all accounts for members that have filed bankruptcy noting recent activity and balances which may benefit LCCU in claim filing.
• Load Bankruptcy case information into the core system database.
• Review accounts when bankruptcy notice is the action to determine if the Credit Union can improve the status of our claim due to actions of the debtor prior to the filing or based on the terms of the account agreement.
• Communicate (both verbally and through written correspondence) with attorneys and Chapter 13 Offices.
• Prepare reaffirmation agreements in Chapter 7 cases.
• Terminate all automated payments, funds transfer upon receiving a notice of filing.
• Open and process bankruptcy-related mail daily.
• Collect specialized loans (non-filing co-debtors, discharged bankruptcy, and cease communication) in accordance with FDCPA.
• Review bankruptcy reports to ensure collection contact with non-filing co-debtor and timely notice of default.
• Complete the charge-off process for all bankrupt accounts.

• Review Real Estate Mortgage Loans 90-Day past due to determine when collection efforts are not successful and consult with the Loss Mitigation Manager to proceed with notice of default.
• Update foreclosure status in the collections module.
• Prepare legal documents for referral to a foreclosure attorney.
• Ensure compliance with SCRA.
• Daily correspondence with foreclosure attorneys through phone, email, and mail.
• Monitor the progression of foreclosure proceedings.
• Provide monthly reports of scheduled foreclosure sales to Senior Management.
• Review Mortgage Loan Live Contact Exception Report in accordance with Reg X.

• Review charge-off report monthly to determine and consult with the Loss Mitigation Manager to proceed with legal collections according to the Loss Mitigation policy.
• Prepare documents for referral to an attorney for legal collections.
• Record signed reaffirmation agreements with the Court.
• File notices of mortgage payment changes with the Court.
• Appeal to Trustee/Attorneys for adequate protection if necessary.
• Seek relief from staying to secure collateral when debtors fail to obtain insurance coverage.
• Respond to Notices of Final Cure when a case is closing to advise the court whether our records agree with theirs that the mortgage loan is current.
• Review documentation to determine if an attorney should be retained to file a motion on behalf of LCCU.
• Review and process charge-off accounts for defaulted loans and credit card accounts submitted by the Loss Mitigation department.
• Complete transactions to charge off loans and credit cards.
• Key required maintenance and monetary transactions to accounts.

• Key collection updates in the appropriate Loss Mitigation systems.
• Review, process, and report different types of credit union products that have become uncollectable.
• Maintain retention records, file paperwork, scan documents, and data to present reports to management, and perform other clerical duties as needed.
• Assist other Loss Mitigation departments and perform additional duties as needed.
• Must effectively communicate with branches, members, and senior LCCU executives.
• Employees will analyze requests and should be able to reason and perform critical analysis.
• Assist in creating new processes to improve workflow and provide efficient service to branches.
• Knowledge of Loss Mitigation operational procedures and systems.
• Monitor payments from trustees and manually charge off loans and credit cards.
• Assist in creating new processes to improve workflow and provide…