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Title

Loss Mitigation Specialist 

Description

At Sterling Bank and Trust, we know that a world-class team is a foundation of our success. We are currently looking for aLoss Mitigation Specialistto join our Servicing team. The Loss Mitigation Specialist is responsible for working with a portfolio of delinquent loans and loans serviced by other to maintain asset quality, full compliance, and quality assurance with all Bank and regulatory guidelines regarding default administration, foreclosure, alternatives to foreclosure, resolution options. If you have experience working in collections within a financial institution, wed love to hear from you.

Sterlings compensation and benefits packages are highly competitive. Full-time Sterling employees have access to a comprehensive health care plan, dental and vision coverage, flexible spending accounts, 401(k) plans with matching contributions, PTO, and more.

A Sample of Your Day-to-Day:

  • Performs collateral evaluations and written analyses of equity position to recommend Foreclosure, Charge Off or Legal action.
  • Employs loss mitigation techniques to discuss programs available to borrowers with imminent default or in default.
  • Provides administrative support duties including reporting, system coding, process changes and forms management.
  • Coordinates with attorneys, trustees, debtors and others to research estate in bankruptcy, probate or workout in various states to minimize losses and maximize recoveries.
  • Review loss mitigation package documentation in accordance with Regulation X to determine if the homeowner qualifies for a loss mitigation option.
  • Monitor OCC bulletins, Fannie Mae, FHLB and other guidelines for compliance within the department.
  • Initiate direct contact with borrowers to assess borrowers situation and obtain repayment options to reduce potential losses to the bank in accordance with regulations and company policies.
  • Assists customers in processing insurance claims
  • Obtains, reviewed and analyzes property value opinions
  • Inbound and outbound calling and follow-up.

What Were Looking For

  • Associates degree or equivalent combination of relevant education and experience
  • Three or more years of experience within a financial institution compliance and/or collections department
  • Knowledge of Foreclosure, Bankruptcy, REO/Property Preservation, Post Charge Off Collections.
  • Maintain knowledge and compliance of all applicable state and federal mortgage laws.
  • Detailed knowledge of Bankruptcy law, including Chapters 13 and 7, probate and work out law.
  • Knowledge of bankruptcy legal procedures, including Relief from Stay, property abandonment, affidavits, Proof of Claim, conversion of Chapter 13 to 7 and Chapter 13 repayment plans

Core Competencies:

  • Integrity - Sets high standards of honesty for self and others; transparent intentions; keeps commitments that align with Sterlings Code of Business Conduct and Ethics.
  • Inclusion -Treats people with dignity and respect; creates a welcoming environment and promotes cultural competency.
  • Continuous Learning - Completes all required training to ensure compliance; Identifies and participates in learning activities that lead to professional growth.
  • Synergy - Collaborates together using teams expertise and knowledge to maximize results; Actively seeks information to understand team members and customers circumstances, problems, expectations and needs

About US:

Sterling Bank & Trust provides a comprehensive choice of banking solutions, innovative loan products, and outstanding personal service to individuals, professionals, businesses, and commercial customers as a trusted neighborhood bank. We're known for highly competitive deposit rates, expertise in mortgage lending, and keeping deposits at work in the local community. Our customers know that they can stop by any branch and be treated like family. Since the Bank was founded in 1984, our customers have trusted us to help them handle their banking and financial needs. With over $2 billion in assets, Sterling Bank & Trust continues to grow better to serve our customers in communities across the U.S.

EOE Statement:

Sterling Bank and Trust is proud to be an equal employment employer. We do not discriminate in hiring or any employment decision based on race, color, religion, national origin, age, sex, (including pregnancy, childbirth, or related medical conditions), marital status, ancestry, physical or mental disability, genetic information, veteran status, gender identity or expression, sexual orientation, or other applicable legally protected characteristic.

 
Position Requirements

QUALIFICATIONS

To perform this job successfully, an individual must be able to perform each essential duty satisfactorily. The requirements listed below are representative of the knowledge, skill, and/or ability required. Reasonable accommodations may be made to enable individuals with disabilities to perform the essential functions.

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EDUCATION and/or EXPERIENCE

  • Associates degree or equivalent combination of relevant education and experience
  • Three or more years of experience within a financial institution compliance and/or collections department
  • Knowledge of Foreclosure, Bankruptcy, REO/Property Preservation, Post Charge Off Collections.
  • Maintain knowledge and compliance of all applicable state and federal mortgage laws.
  • Detailed knowledge of Bankruptcy law, including Chapters 13 and 7, probate and work out law.
  • Knowledge of bankruptcy legal procedures, including Relief from Stay, property abandonment, affidavits, Proof of Claim, conversion of Chapter 13 to 7 and Chapter 13 repayment plans
 
Full-Time/Part-Time Full-Time  
Req Number ADM-22-00007  
Location Southfield Office  
About the Organization Sterling Bank & Trust provides a comprehensive choice of banking solutions, innovative loan products, and outstanding personal service to individuals, professionals, businesses, and commercial customers as a trusted neighborhood bank. We're known for highly competitive deposit rates, expertise in mortgage lending, and keeping deposits at work in the local community. Our customers know that they can stop by any branch and be treated like family. Since the Bank was founded in 1984, our customers have trusted us to help them handle their banking and financial needs. With over $3 billion in assets, Sterling Bank & Trust continues to grow better to serve our customers in communities across the U.S.  
EOE Statement Sterling Bank and Trust is proud to be an equal employment employer. We do not discriminate in hiring or any employment decision based on race, color, religion, national origin, age, sex, (including pregnancy, childbirth, or related medical conditions), marital status, ancestry, physical or mental disability, genetic information, veteran status, gender identity or expression, sexual orientation, or other applicable legally protected characteristic.

Applicants with disabilities may be entitled to reasonable accommodation under the terms of the Americans with Disabilities Act and certain state or local laws. A reasonable accommodation is a change in the way things are normally done which will ensure an equal employment opportunity without imposing undue hardship on Sterling Bank. Please inform Sterling Bank's human resources department if you need assistance completing any forms or to otherwise participate in the application process.
 

This position is currently not accepting applications.

To search for an open position, please go to http://SterlingBankandTrust.appone.com



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