• Title

  • Loss Mitigation Representative

    Purdue Federal Credit Union
    Job Description
    The Loss Mitigation Representative is responsible for the control of delinquent loan accounts and pending late payment reminders.  Makes follow-up telephone calls on delinquent loan accounts and maintains accurate records on delinquent loan accounts.
    *Employees are expected to adhere to all rules and regulations applicable to this position, including but not limited to all policies and procedures pertaining to the Bank Secrecy Act.
    Duties and Responsibilities (Essential Functions):
    • Member Interaction
      • Call members on delinquent consumer and mortgage loans from 11 days (consumer) and 16 days (mortgages) to 44 days past due and respond to incoming calls
      • Send out the 45 Day Loss Mitigation Options Letter at 35 days delinquent
      • Meet with members in the branch for one-on-one consultation and payment arrangements
    • Blocked Accounts
      • Block Visa cards when needed
      • This includes removing credit limits for Members that are 60 days delinquent as well as blocking ATM and debit cards as needed
    • Collateral
      • Recommend action for repossession of collateral securing delinquent Loans
      • Is responsible for the upkeep of such collateral while in the Credit Union’s possession, and assist with the disposition of such Collateral in the best interest of the credit union
    • Skip tracing
      • Forward accounts with no contact information to the “No Contact Information” queue for review and skip tracing
    • Cross training of different collection activities
    Knowledge, Skill, and Ability Requirements:
    • High School Diploma or GED Equivalent
    • Minimum 1 to 3 years of similar experience
    • Competent computer skills
    • Ability to communicate, verbally and in writing, in a professional manner when dealing with employees, members, vendors and company contacts
    • Ability to follow the core values of honesty, integrity, mutual respect, pride and ownership
    Work Environment/Physical Demands:
    • This job operates in a clerical office setting.  This role routinely uses standard office equipment such as computers, phone, photocopiers, filing cabinets and fax machines
    • This position requires manual dexterity, the ability to lift files and open filing cabinets
    • This position requires sitting, bending, stooping or standing as necessary
    Contact Information