Foreclosure Loss-Mitigation Specialist II

We do the right things, right now. We do them in a way that is relevant to our clients. Become a part of our history as it continues to be written!

If you are interested and qualified for this role, we invite you to apply.

The Foreclosure/Loss Mitigation Specialist within the Retail Collections Department oversees and reviews accounts that are in contractual default and should be considered for either a form of Loss Mitigation or Foreclosure, depending on the present circumstances. Within the Retail Collections Department these functions may be separated and performed by different individuals holding the same title. Any individual with this title should be able to monitor and manage any asset through the entire default, mitigation, foreclosure or litigation process.

Essential Functions/Responsibilities

• Review loan file documentation and engage legal counsel as appropriate. 10%
• Determine appropriate and least costly collection strategy and course of action for assets that are currently in foreclosure and advance stages of default and delinquency. 5%
• Develop strong working relationships with 3rd party attorneys to assure proper processes and procedures are followed to complete all aspects of litigation in a correct and well documented manner. 10%
• Prepare bidding instructions in accordance with FFB credit policy for retail properties proceeding to sheriff's sale. The specialists may be required to attend sheriff sales and will submit bids on behalf of the bank. 5%
• Recommend charge-off amounts in regards to assets requiring full or partial write-downs to bring loans in line with projected or identified recoverable balances. 5%
• Work with realtors, attorneys, property management companies, as well as state and local governments to secure proper title to properties and allow for the easy and properly documented and legal transition of properties into the Bank's OREO portfolio. 8%
• Arrange for the maintenance, valuation and securing of properties while working towards the re-marketing and liquidation of the collateral by the OREO specialist. 10%
• Processes and distributes all appropriate invoices in regards to foreclosure, litigation and maintenance on applicable properties. 5%
• Counsel clients directly in loss mitigation options while guiding client through the process of working to secure the least costly course of action to the bank and the client. 5%
• Maintain a working knowledge of updates and procedural changes within the bank and within the industry in regards to the modification or cure of troubled assets. 10%
• Produce and arrange for the execution of agreements and documentation required with clients for modification, forbearance and extensions of loans. 10%
• Coordinate activities with the other associates within the Collections Department. Fully document all accounts on the collection system. 5%
• Create, update and maintain sufficient reporting for all foreclosed, modified or restructured assets. 5%
• Administer the reporting of delinquent and default assets with MI insurance coverage. 2%
• File all applicable claims for MI covered assets. 5%

Minimum Knowledge, Skills, and Abilities Needed to Perform Essential Functions of the Job

• Must be proficient in all skills required of the Retail Collections Specialist.
• 2-4 years related experience and/or training; or equivalent combination of education and experience.
• Bachelor's degree (B.A.) from four-year College or university; or equivalent combination of education and experience.

Preferred Knowledge and Skills

Level of Complexity and Scope

Degree of Independence and Decision-Making

Required Supervisory Responsibilities

Physical Requirements

• Occasionally lifts and carries up to 20 lbs.
• Occasionally stands and walks.
• Frequently sits and drives.

Compliance Statement

The associate is responsible for meeting all compliance requirements imposed on First Financial Bank by State and Federal law and regulation, as well as all related First Financial Bank policies and procedures. This includes all Bank Secrecy Act, Anti-Money Laundering, OFAC and Suspicious Activity reporting requirements, as well as all other lending and deposit compliance requirements.

Development and Training

Pay Scale

$19.47/hr - $23.56/hr

Benefits

We have relevant, thoughtful benefits and programs that support every aspect of our associates' holistic wellbeing. Please review our Benefits Guide.

Incentive Eligibility

All roles are incentive eligible with the exception of Co-Op, Intern, or Student positions.

It is our policy to not discriminate against any individual in violation of federal, state, and local laws as it relates to age, race, color, religion, national origin, sex, marital status, pregnancy, gender identity, disability, sexual orientation, genetic information, veteran/military service, or any other characteristic protected by law.

We are an E-Verify Employer.