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Job Opportunity: Workout Specialist:Job description:
Workout SpecialistOverviewHudson Valley Credit Union is currently recruiting for the position of Workout Specialist. Primary Function: Responsible for underwriting and implementing consumer loan modifications, workout plans, and mortgage loans modifications to best preserve the assets of the Credit Union and reduce losses. Ensure Compliance with investor reporting and servicing requirements. Responsibilities » Process, analyze and underwrite modifications of consumer, automobile, and residential mortgage loans in conformity with HVCU loan modification policies and guidelines and/or real estate mortgage regulatory compliance requirements. Monitor progression of the modification requests from initial request through approval or denial of request. » Prepare mortgage loan modifications for closing by obtaining loan payoffs, escrow analysis, capitalize on all property preservation, and attorney foreclosure fees. Coordinate with legal counsel on the final preparation of all modification documents and conduct the loan modification closing directly with the members. Monitor and adhere to secondary market requirements on workouts. » Work with management and legal counsel to cure delinquency and determines the proper handling of real estate workout plans. Accurately prepare and update workout reporting, tracking and analytical reports. Handles member interactions and internal customers over the phone, in writing or in person in a timely, professional manner. » Coordinate alternatives to foreclosure. Evaluate and analyze recommendations for workouts and foreclosures. » Maintain and update workout procedures and provides recommendations to management for process and underwriting changes.Responsible for adherence to secondary market requirements on all investors and loan product types. » Monitor industry trends connected with real estate and consumer loan workouts and make recommendations to management for process and underwriting changes with a strong focus on Mortgage Servicing Regulation changes and TDR reporting and regulations. » Adhere to all Credit Union policies, procedures, and regulatory agency requirements. Participate in all required and recommended training and development including, but not limited to, Bank Secrecy Act training (BSA) and demonstrate attained expertise. Participate on Credit Union teams, projects and strategic initiatives when the opportunity arises. Perform additional tasks and special projects as assigned. » Embrace and apply HVCU’s guiding principles to all activities and responsibilities. This includes the Credit Union’s Mission, Vision, Core Values, Employee and Member Value Propositions, Sales and Service Model, and commitment to Lean Six Sigma practices. Support the Credit Union’s initiatives by demonstrating teamwork and professionalism. » Responsible for regular and predictable attendance including punctuality. Qualifications » High School Diploma, General Education Development (GED) certificate, or state authorized high school equivalent certificate required » Registration with the National Mortgage Licensing System and Registry (NMLS) required » Minimun 2 years work history in a Credit Union or Financial Instituion required » Minimum 1 Year expereince underwriting in consumer and/or residential mortgage preferred » Minimum 1 Year real estate and/or consumer lending processing practice preferred » Minimum 1 Year collections practice preferred Why choose HVCU? HVCU cares for our employees, members, and community. We actively seek to create an inclusive workforce by hiring people with diverse perspectives and practices. We celebrate and embrace what makes each of us different and foster an environment where everyone feels that they belong. In commitment to our diversity, equity, and inclusion mission, we encourage members of historically underrepresented communities to apply, including those who identify as women, minorities, veterans, disabled and LGBTQ+. Employee Perks: » HVCU University & Academy; Professional Development Training » Student Loan Repayment & Tuition Reimbursement Programs » Medical, Dental, and Vision coverage (coverage starting as low as $20 per month) » 401(k) with employer match and non-elective employer contribution » Paid time off (PTO), holidays, and community volunteer time » Life, Short-Term, and Long-Term Discapability Insurance » Discounted Loan Rates & Fees Hudson Valley Credit Union is an AA/EEO employer committed to equal opportunity and employee diversity. All qualified candidates will receive consideration for employment without regard to race, color, religion, sex, age, sexual orientation, gender identity, the status of being transgender, national origin, discapability, military or veteran status, genetic information, marital or familial status, domestic violence victim status, or any other characteristic protected by law. » High School Diploma, General Education Development (GED) certificate, or state authorized high school equivalent certificate required » Registration with the National Mortgage Licensing System and Registry (NMLS) required » Minimun 2 years work history in a Credit Union or Financial Instituion required » Minimum 1 Year expereince underwriting in consumer and/or residential mortgage preferred » Minimum 1 Year real estate and/or consumer lending processing practice preferred » Minimum 1 Year collections practice preferred Why choose HVCU? HVCU cares for our employees, members, and community. We actively seek to create an inclusive workforce by hiring people with diverse perspectives and practices. We celebrate and embrace what makes each of us different and foster an environment where everyone feels that they belong. In commitment to our diversity, equity, and inclusion mission, we encourage members of historically underrepresented communities to apply, including those who identify as women, minorities, veterans, disabled and LGBTQ+. Employee Perks: » HVCU University & Academy; Professional Development Training » Student Loan Repayment & Tuition Reimbursement Programs » Medical, Dental, and Vision coverage (coverage starting as low as $20 per month) » 401(k) with employer match and non-elective employer contribution » Paid time off (PTO), holidays, and community volunteer time » Life, Short-Term, and Long-Term Discapability Insurance » Discounted Loan Rates & Fees Hudson Valley Credit Union is an AA/EEO employer committed to equal opportunity and employee diversity. All qualified candidates will receive consideration for employment without regard to race, color, religion, sex, age, sexual orientation, gender identity, the status of being transgender, national origin, discapability, military or veteran status, genetic information, marital or familial status, domestic violence victim status, or any other characteristic protected by law. » Process, analyze and underwrite modifications of consumer, automobile, and residential mortgage loans in conformity with HVCU loan modification policies and guidelines and/or real estate mortgage regulatory compliance requirements. Monitor progression of the modification requests from initial request through approval or denial of request. » Prepare mortgage loan modifications for closing by obtaining loan payoffs, escrow analysis, capitalize on all property preservation, and attorney foreclosure fees. Coordinate with legal counsel on the final preparation of all modification documents and conduct the loan modification closing directly with the members. Monitor and adhere to secondary market requirements on workouts. » Work with management and legal counsel to cure delinquency and determines the proper handling of real estate workout plans. Accurately prepare and update workout reporting, tracking and analytical reports. Handles member interactions and internal customers over the phone, in writing or in person in a timely, professional manner. » Coordinate alternatives to foreclosure. Evaluate and analyze recommendations for workouts and foreclosures. » Maintain and update workout procedures and provides recommendations to management for process and underwriting changes.Responsible for adherence to secondary market requirements on all investors and loan product types. » Monitor industry trends connected with real estate and consumer loan workouts and make recommendations to management for process and underwriting changes with a strong focus on Mortgage Servicing Regulation changes and TDR reporting and regulations. » Adhere to all Credit Union policies, procedures, and regulatory agency requirements. Participate in all required and recommended training and development including, but not limited to, Bank Secrecy Act training (BSA) and demonstrate attained expertise. Participate on Credit Union teams, projects and strategic initiatives when the opportunity arises. Perform additional tasks and special projects as assigned. » Embrace and apply HVCU’s guiding principles to all activities and responsibilities. This includes the Credit Union’s Mission, Vision, Core Values, Employee and Member Value Propositions, Sales and Service Model, and commitment to Lean Six Sigma practices. Support the Credit Union’s initiatives by demonstrating teamwork and professionalism. » Responsible for regular and predictable attendance including punctuality. Skills:
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