FUNCTION: Responsible for working with customers during early stages of delinquency on loans owned or serviced by Bangor Savings Bank to find mutually acceptable solutions to address and to resolve the delinquency. Efforts involve direct communication with customers to offer specific options available to financially distressed homeowners and to other borrowers. Manages designated customer outreach queues with a strategic approach that minimizes the number of cases that advance to more serious stages of delinquency. Assesses individual customer circumstances to designate correspondence and related information that must be provided within applicable timeframes. Obtains financial information from customers who are in the early stages of delinquency, both for portfolio loans and for loans serviced for Investors (such as MSHA, FHLMA, FNMA, VA, HUD, and PMI). Performs various efforts to monitor the condition and status of real property and may work with attorneys and property management companies to inspect, protect, and preserve the value of the Bank’s collateral. Evaluates loans to determine when required notices and information are to be sent to customers. Recommends course of action for loans approaching more serious stages of delinquency and transitions those loans to other members of the Special Assets team when appropriate.
Under the guidance of the manager:
- Contacts customers during early stages of delinquency and works collaboratively to find mutually acceptable solutions in accordance with Bank policy and/or Investor guidelines.
- Continuously works on an early stage outreach strategy to minimize delinquency and non-performing loans.
- Maintains high volume of inbound and outbound calls.
- Reviews customer circumstances and analyzes Bank policy and/or Investor guidelines to designate appropriate early intervention correspondence to be provided and ensures that applicable deadlines are met.
- Assists other members of the Special Assets team by obtaining financial information from customers who are in the early stages of delinquency, for both portfolio and serviced loans, to find alternatives to foreclosure or repossession whenever possible.
- Determines and coordinates the services of property management companies to perform the necessary services (within allowable guidelines) on real estate to inspect, protect, and preserve the value within guidelines established by the Bank or other holders of mortgages for which the loan is serviced. Reviews inspection reports to ascertain property condition and occupancy status; takes appropriate action as required.
- Evaluates loans to determine when legal notice(s) to customers are required in the event that early intervention efforts are not successful.
- Analyzes all customer and property information for loans approaching more serious stages of delinquency and recommends an appropriate course of action based on the relevant circumstances. Transitions loans to other members of the Special Assets team as appropriate.
- Ensures that all loans secured by real estate and/or by personal property collateral are managed according to the servicing standards of Investors and Bangor Savings Bank, as applicable.
- Works effectively and efficiently with core systems.
- Communicates and interacts effectively with other departments of the Bank.
- Produces and interprets reports.
- Develops and maintains spreadsheets.
- Develops and maintains a working knowledge of options available to homeowners in distress and to other customers that can be leveraged to best assist struggling borrowers.
- Creates written communication to customers that meets guidance.
Compliance and Control:
- Assists in ensuring that the Bank is in compliance with local, state and federal laws and regulations.
- Performs additional duties as requested.
- Analytical – Observes processes and trends. Makes recommendations for process changes that help achieve departmental and individual goals.
- Initiative - Takes independent action, operates as a pro-active self-starter, acts on opportunities, practices self-development
- Adaptability/Flexibility – Adapts to change, is open to new ideas, takes on new challenges, handles pressure, adjusts plans to meet changing needs
- Integrity/Ethics – Deals with others in a straightforward, honest manner, is accountable for actions, maintains confidentiality, supports company values, conveys news good or bad
- Interpersonal Skills – Has good active listening skills, negotiation techniques
- Vision/Values – Supports company mission/values through daily actions and decisions, communicates the Bank’s vision, mission and values to others, incorporates vision when planning
- Organizational – Has strong organization system. Utilizes system for improvement/advancement of goals.
- High school diploma or equivalent required, college, business or banking professional training helpful.
- Strong verbal and written communications skills required.
- Excellent customer service skills preferred.
- Personal computer literacy required.
- Ability to work independently with minimal supervision essential.
Physical Demands/Conditions Requirements:
- General office environment.
- Moderate lifting (to 35 lbs.) required. Moderate reaching, walking, sitting and standing required.
Bangor Savings Bank is an Affirmative Action / Equal Opportunity Employer of women, minorities, protected veterans and individuals with disabilities.
General office equipment.
External and internal applications, as well as position incumbents who become disabled, must be able to perform the essential functions (as listed) either unaided or with the assistance of a reasonable accommodation to be determined by management on an individual basis.