Loss Mitigation Specialist Opportunity Overview

As a Loss Mitigation Specialist with Banner Bank you will be responsible for loss mitigation efforts as well as bankruptcy file processing pertaining to investor owned loans (or portfolio loans with private mortgage insurance) within the Mortgage Servicing portfolio. Ensure timely and accurate administration, monitoring, and reporting of loss mitigation efforts and results to investors, private mortgage insurers, and regulatory agencies. Assist with collection calls and correspondence with delinquent customers.

As a Loss Mitigation Specialist with Banner Bank you will have the opportunity to:

• Place calls to customers regarding past due payments using assigned collection queues. Update loan records to with customer profile information. Document attempts to contact and customer conversations


• Send appropriate correspondence to customers based on delinquency and other loan characteristics. Answer customer inquiries related to past due payments and payment changes related to escrow, escrow analysis, and adjustable rates


• Advise customers on retention or non-retention loss mitigation options available based on loan type, state, and investor parameters. Establish payment plan options to maximize borrower success in retaining their home. Report loan status and/or process claims accurately and timely to investors, agencies, and/or PMI companies.


• Monitor bankruptcy court status, processes, and accounts for loan payments associated with bankruptcy plan. Prepare and file routine bankruptcy documents with the bankruptcy court.


• Modify or correcting credit reporting and/or late charge assessment as situations require and research supports. Work with credit repositories to ensure accurate reporting in accordance with the FACT Act.


• Calculate income and reviewing customer financial information and make recommendations in accordance with loss mitigation option hierarchy or foreclosure. Negotiate, calculate, draft, and monitor repayment, forbearance or loan modifications for receipt of payments in accordance with the agreement.


• Obtain inspections, BPOs, and/or appraisals. Review results for recommendations regarding risk rating, charge offs, property repairs, and securitization. Perform maintenance pertaining to charge-offs, non-accruals, and risk ratings.


• Comply with policies, procedures, security requirements, and government regulations.

QUALIFICATIONS

Education & Certifications

• H.S. Diploma in required


• Associate's Degree in related field preferred

Experience

• 3 - 5 years in of customer service, collections, or mortgage servicing experience preferred. Legal experience, especially pertaining to bankruptcy and/or foreclosures preferred

Knowledge, Skills and Abilities 

• Knowledge of basic accounting principals. Solid understanding of residential lending programs, investor relationships, and mortgage insurance


• Ability to prioritize, multi-task, and meet deadlines.


• Ability to work independently and as part of a team.


• Ability to communicate in a positive and professional manner through telephone, e-mail, or written correspondence with customers and co-workers.


• Ability to understand and apply changes to regulations and requirements to daily work.


• Knowledge of investor, federal and state laws and regulations relating to mortgage servicing and collections.

Travel

• 0%

Compensation & Benefits

• Comprehensive employee benefits package, including medical, dental, vision, health and dependent daycare funds, life and disability protection


• Paid vacation time, sick time and 10 company paid holidays


• 401k (with up to 4% match)

About Banner Bank

More than 130 years ago, we started with core values that never go out of style: listen, learn and help businesses and individuals reach their goals. Our focus on offering outstanding value is why Money Magazine named Banner the Best Bank in the Pacific Region of the U.S. in 2019. Moreover, our financial strength and stability are key reasons Forbes names us one of the Best 100 Banks in America the past four years. 

With more than $12 billion in assets and over 200 locations throughout Washington, Oregon, Idaho, and California, we understand our role in the economy and take that responsibility seriously. In addition to offering a source of capital to personal banking clients and businesses of all sizes, we place a high importance on employee volunteerism and donate millions of dollars each year to community organizations. 

Banner Bank is an Equal Opportunity Employer committed to diversity in the workplace. All qualified applicants will receive consideration for employment without regard to race, color, religion, sex, sexual orientation, gender identity, national origin, citizenship, marital status, age, disability or protected veteran status.

NOTICE TO RECRUITMENT AGENCIES:

Banner Bank does not accept unsolicited resumes from agencies and/or search firms for any job postings on this site. Resumes submitted to any Banner Bank employee by a third party agency and/or search firm without a valid written and signed search agreement, will become the sole property of Banner Bank. No fee will be paid if a candidate is hired for a position as a result of an unsolicited agency or search firm referral.