Loss Mitigation Specialist

Primary Purpose of Job

Responsible for reducing risk to ASB by mitigating losses associated with the Consumer Retail Portfolio, while ensuring compliance with all applicable internal policies and procedures, investor servicing requirements, banking laws and regulations, and applicable Federal and state laws. Negotiates with customers and works closely with attorneys and other professionals to resolve delinquency issues and minimize losses.

Major Job Accountabilities

• Evaluates borrower requests for assistance (due to financial hardship) in accordance with servicing guidelines. Determines the ideal course of action, which may include any of the following: short sales, forbearances, repayment plans, deed-in-lieu of foreclosure, or loan modifications. Obtains all required approvals from investors, mortgage insurance companies, and/or others to facilitate mitigation alternatives. Prepares required documentation including notices, letters, and loss mitigation packages. Maintains appropriate and thorough records and documentation to ensure all regulatory and compliance requirements are met. Coordinates, monitors, and deploys loss mitigation alternative through completion, including the filing of reimbursement claims.
• Assists in identifying at-risk loans that demonstrate the potential for a threat of loss. Conducts periodic individual impairment analyses to ascertain appropriate reserve levels. Monitors substandard portfolio for credit risk adjustments.
• Manages accounts within the litigation inventory related to collections, foreclosure, bankruptcy, and probate. Coordinates efforts directly with outside counsel for efficient and effective responses to requests for documents, information, settlement authority, check requests, discovery, etc. to facilitate the prompt filing and handling of such litigation matters. Ensures all actions, deadlines, and correspondence are processed in a timely manner, clearly documented and tracked internally.
• Investigates and responds to credit bureau disputes received from the three major credit reporting agencies, directly from consumers, or through Adverse Action requests.
• Processes decedent notifications and generates initial correspondence on behalf of the Bank to decedent's estate. Such correspondence may include matters related to ACH chargebacks, improper online access, and handling of outstanding loan balances. Investigates and responds to questions from the decedent estate regarding transition of loans.
• Monitors and remains current on regulations related to matters of loss recovery to ensure internal compliance with all laws and regulations.

Experience Required
Three (3) years of work experience underwriting, mortgage loan, loss mitigation, collection, or legal experience

Required Skills or Training

• Able to comprehend and analyze content information gathered from different sources to make sound recommendations and decisions.
• Able to work in a fast paced, team-oriented environment and complete assigned tasks within tight timeframes.
• Demonstrated analytical skills and highly effective organizational skills, with significant attention to detail.
• Demonstrates excellent communication skills, including the ability to conduct professional and effective discussions with a broad constituency; possesses highly effective writing skills.
• Proficient with Microsoft Office suite, including Word, Excel and PowerPoint.

EOE, including disability/veterans

At American Savings Bank, we welcome and support all individuals and celebrate the diversity of our team members, customers and community. We are committed to ensuring that our online application process is accessible and provides an equal employment opportunity to all job seekers. If you need assistance searching for a job or submitting an application, please contact us by calling 808-538-2000 and a member of our Recruitment team will follow up with you. Mahalo for your interest in American Savings Bank!