Position Title: Collection Adjuster 2 – Residential

Reports To: Residential Collection Manager

Department: Retail Lending – Collections

FLSA Status: Non-Exempt

Purpose: The Residential Collection Adjuster 2 is responsible for managing advanced stages of delinquency to acceptable levels in accordance with established Department goals and objectives. Must strictly adhere to all Bank policies and procedures in addition to all State, Federal, CFPB Servicing Guidelines and Investor mandates and requirements. This position will work with borrowers in providing financial counseling and will implement structured repayment plans, loss mitigation options, modifications, short sales and foreclosure processing.

Supervisory Responsibilities:

Degree of Supervision Received: Moderate

Degree of Supervision Given: None

Essential Functions:

• Contact delinquent borrowers to arrange for timely repayment. The majority of the contact is initiated though telephone contact. Letters and approved e-mails are other permissible contact options. A measurable goal is the expectation for borrower contact via telephone to meet established goals for an average call volume. Must initiate outbound calls with borrowers to determine the reason for default. Ensure right party contact and fully, clearly, and concisely document all work efforts and collection activity. Ensure that all letters and all regulatory notifications are forward in a timely manner to all borrowers.
• Obtain updated borrower information. Verify information with each interaction. Utilize standard collection practices when attempting to located borrowers such as: skip tracing tools and techniques; approved social media outlets; and approved and authorized references and third parties. Fully, clearly and concisely document all borrower interactions and conversations. Fully disclose all collection activity.
• Expert knowledge of regulations governing collection activity such as, but not limited to: FDCPA, SCRA, Privacy, Fair Lending, and CFPB Servicing guidelines. Must ensure strict adherence that is critical to avoid sanctions, fines and penalties both from a Bank and personal liability standpoint.
• Expert knowledge and adherence to Investor due diligence and servicing guidelines and requirements for Early Intervention, Avoiding Foreclosure, Loss Mitigation, Modifications, Property Inspections. Participation and attendance at Investor webinars and training sessions. Knowledge of the location of on-line access to Investor Servicing guidelines. Prepare and submit monthly Investor reports. Prepare and update all department LTV monthly reports.
• Respond promptly to inbound calls. Efficiently handle a variety of borrower inquiries via phone calls and written correspondence. Educate borrowers on the resolution process. Complete a financial analysis to determine borrower(s) ability to repay. Provide assistance and alternatives. Fully describe and detail eligibility for relief options. Communicate external loss mitigation options including agencies, charities and Investor programs. Forward forbearance, deferment and modification agreements and packages and follow up to request additional information and the receipt of all documentation. Monitor all workout processes through completion. Coordinate requests for Short Sales and Deed in Lieu of Foreclosure.
• Define problems, collect data, establish facts. Promptly research and respond to borrower inquiries and resolve payment posting issues. Provide loan history information and explanations. Work closely with peers across the Bank to provide the best possible borrower experience. Values must align with working in a true team environment to consistently deliver a superior quality of service.
• Research and resolve all delinquent tax notifications. Work closely with towns, counties and other municipalities to avoid losing the Bank’s and Investor’s interest in real property. Negotiate with borrowers for the delinquent tax repayment. Analyze borrower ability to remit payment and when this can’t be accomplished, obtain appraisals, seek approval for Bank to remit payment, work with Loan Servicing to charge the loan, re-amortize payments and created an escrow account going forward. Monitor the loan and upon default, refer for foreclosure.
• Resolution of delinquency; NSF items; returned electronic payments; all for the purpose of reducing delinquency and avoiding losses. Offer payment alternatives for the timely receipt of contractual payments: ACH processing, AFT processing, Bank Offsets, Electronic one-time payment processing, and Digital Banking. A measurable goal is the expectation of monthly electronic payments.
• Proactively refer all potential loss situations to management such as but not limited to: Vacant properties; Deceased borrowers, Successor in Interest, Bankruptcies, Property Code Violations, Mold Remediation, Trash, Lawn Care and Snow Removal situations. Recommend foreclosure action and forward Demand requests to Legal teams. Recommend and prepare sale Bid Sheets and Court Settlement Options.
• Demonstrate the standards and principles of the Five Star Bank experience in every interaction with internal and external customers, associates, and stakeholders. Incorporate the high-performance behaviors of teamwork, leading by example, and service in every facet of work.
• This job description is not exhaustive. The Collection Adjuster 2 – Residential may be required to perform other duties as assigned.

Job Related Qualifications – Education and Prior Experience:

Required:

• Education: High School Diploma or equivalent
• Prior Experience: 5+ years of Collection, Banking, Credit Union, Mortgage Processing, Mortgage Lending Company, Law Firm, Collection Agency, Investor Group

Preferred:

• Education: Associate Degree in business or related field
• Prior Experience: 5-7 years of Collection, Banking, Credit Union, Mortgage Processing, Mortgage Lending Company, Law Firm, Collection Agency, Investor Group. Paralegal, prior supervision, litigation experience.

Competencies:

• Strong verbal and written communication skills. Demonstrated customer service and delinquency resolution skills.
• Basic knowledge of the collection function to include familiarity with internet- based search techniques for skip tracing, property values, Investor guidelines.
• Working knowledge of Microsoft Office, Windows operating system, and Excel applications with the ability to learn new and existing Banking software. Excellent keyboarding skills.
• Analytical ability to interpret data and to make sound decisions and logical recommendations. Excellent negotiation skills with the ability to overcome objections.
• Strong organizational skills.
• Ability to work in a fast- paced, high volume environment with specific measurement performance goals. Follow through, accountability, integrity, empathy, accuracy, attention to detail and problem solving are required skills.

Physical Requirements:

• Able to regularly sit for prolonged periods of time.
• Extensive computer usage is required.

Five Star Bank and affiliate companies are committed to Equal Employment Opportunity and Affirmative Action. We recruit, hire, train and promote persons in all job titles and ensure that all other personnel actions are administered without regard to race, religion, color, national origin, citizenship, sex, sexual orientation, gender identity, age, veteran status, disability, genetic information, or any other protected characteristic. Five Star Bank and affiliate companies are committed to providing reasonable accommodations to employees and applicants with disabilities to the full extent required by the Americans with Disabilities Act (ADA). If you feel you need a reasonable accommodation pursuant to the ADA, you are encouraged to contact us at (716)817-5186.

Note: At a later stage in the application process, applicants may be required to provide information about their criminal conviction history, if any, and to authorize the procurement of a consumer report that will contain, among other things, information about criminal conviction history. Except as required by applicable law, prior criminal convictions will not automatically disqualify an applicant from employment, and Five Star Bank will only consider such history in accordance with applicable law. Please be advised, however, that federal law prohibits Five Star Bank from employing “any person who has been convicted of any criminal offense involving dishonesty or a breach of trust or money laundering or has agreed to enter into a pretrial diversion or similar program in connection with a prosecution for such offense” unless the FDIC has provided prior written consent.