Loss Mitigation Specialist

Camden National - Bangor, ME

Full-time - Entry Level

Remote - Bangor, ME

Management of Companies and Enterprises

About the position

Camden National Bank is a local community bank that has been serving since 1875, committed to providing excellent customer service and giving back to the community. The organization fosters a collaborative and inclusive work environment, where employees are valued and rewarded for their performance. The bank has been recognized as one of the best places to work in Maine, offering robust benefits focused on holistic well-being. This position involves contacting severely delinquent borrowers on serviced and bank-owned loans to determine the causes of delinquency and to assist in loss mitigation efforts. The role allows for flexibility, with the option to work from a bank location three days a week and from home two days a week.

Responsibilities

• Collect financial information and review for possible loss mitigation options to cure the borrower's delinquency.
• Work with borrowers to liquidate their homes in an expeditious and cost-effective manner in the event of an incurable default.
• Follow the account throughout the loss mitigation process from first contact through eventual claim (if appropriate).
• 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 if the borrower is uncooperative or unable to qualify for a loss mitigation alternative.
• Potential involvement in the court-mandated mediation program.
• Oversee property management, including review of property inspection reports and taking appropriate action to preserve and protect properties.
• Shadow and cross-train with the team leader to expand knowledge and utility to the Bank.
• Call delinquent borrowers for payments on loans running from 15 - 90 days past due.

Requirements

• Two year college degree or equivalent experience.
• Three to five years of collections, underwriting, or home ownership counseling experience is preferred.
• Basic knowledge of practical home ownership is encouraged.
• Ability to read and comprehend simple instructions, short correspondence, and memos.
• Ability to write simple correspondence and effectively present information in one-on-one and small group situations.
• 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.
• Knowledge of Internet software, Excel Spreadsheet software, and Word Processing software.

Benefits

• 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