The Mortgage Solutions Specialist works with members experiencing financial hardship to identify solutions that support their financial recovery while protecting the credit union's interests. This role manages residential and commercial real estate delinquency accounts, including collections, loan modifications, loss mitigation, and foreclosure activities. The position evaluates member circumstances, recommends appropriate resolutions, minimizes potential losses, and ensures compliance with regulatory requirements, investor guidelines, and credit union policies while delivering exceptional member service.
Essential FunctionsPartner with members experiencing financial hardship to identify and implement mortgage assistance solutions that support successful repayment and retention outcomes.Manage delinquent residential and commercial real estate loan portfolios, including collections, loss mitigation, loan modifications, and default servicing activities.Evaluate defaulted mortgage and commercial real estate loans and recommend appropriate workout, recovery, or foreclosure strategies.Coordinate foreclosure activities with attorneys, members, and third-party vendors while ensuring compliance with applicable federal and state regulations.Monitor and manage real estate owned (REO) properties, including insurance coverage, tax payments, property preservation, and disposition efforts.Prepare, submit, and monitor mortgage insurance claims, ensuring accuracy and adherence to required timelines and servicing standards.Respond to member inquiries and provide guidance regarding available loss mitigation and mortgage assistance programs.Maintain accurate documentation and records related to collections, loss mitigation, foreclosure activities, and member communications.Collaborate with internal teams to resolve complex account issues and support continuous process improvement.Utilize servicing systems, collection tools, and technology solutions to improve operational efficiency and member outcomes.Adhere to all applicable regulatory requirements, investor guidelines, Bank Secrecy Act (BSA) requirements, and credit union policies and procedures.
