Consumer / Mortgage Loan Collector

Employment Status:

Full Time

Location:

Corporate Center, Holland

Job Description:

POSITION SUMMARY:

• Contacts assigned delinquent customers to obtain payment commitments designed to resolve delinquency on installment loans, mortgages, home equities, and personal lines of credit.
• Identify, evaluate, and resolve reasons for delinquency by offering workout solutions that adhere to guidelines and are equitable to Macatawa Bank and the customer.
• Record all collection efforts via the collection system insuring that all accounts are noted accurately.
• Conduct research and access credit bureau reports, imaged loan files, bank statements, credit applications and third party vendor services as necessary, to support collection efforts.
• Escalate calls and or problem accounts to repossession, legal, or collection agencies as appropriate. Keep management informed as applicable.
• Review, negotiate and recommend action on requests for proposed foreclosure or repossession alternatives within the timeframes and policies established by management.
• Work with bank’s attorney to initiate foreclosures.
• Evaluate data provided on broker’s price opinions and appraisals to determine fair market values on property.
• Liquidate repossessed assets as appropriate utilizing approved vendors to provide maximum value.
• Responsible for tracking any bankruptcies or lawsuits regarding any consumer/mortgage loan relationships. Complete bankruptcy checklist for appropriate operations input. Work directly with banks attorney on the bankruptcy or lawsuit issues.
• Provide recommended charge-offs and repossession memos for monthly charge off meeting. Provide monthly reporting to manager as assigned.
• Remain current on legal issues regarding collections.
• May train/mentor new or less experienced employees on collection systems, policies and procedures.
• Work with Loan Operations to process payments, payoffs, re-ages, year-end reporting and proper accounting treatment of bankruptcies, repossessions, foreclosures, ORE, and recoveries.

MINIMUM QUALIFICATIONS:

• Bachelors Degree
• 1 to 3 years collections experience.
• Strong working knowledge of collection processes and procedures.
• Excellent oral and written communication skills.
• Requires good negotiation and organizational skills.
• Computer and collection software experience a plus.