Special Assets Officer - Mortgage Portfolio
Job Details
Experienced
Lacey Branch & Admin - Lacey, WA
Full Time
$60,000.00 - $75,000.00 Salary/year
Day
Banking
Description

A GREAT PLACE TO WORK AND BANK  

Join our team!  1st Security Bank team members deliver service that "WOWs" each other and our customers. We value relationships, teamwork, community, and professional growth in a safe, friendly, and progressive workplace. We celebrate diversity and support equality for all. If you share these core values and are committed to career excellence, let us help you reach your dreams!

 

If you are the type of individual that would enjoy working at one of the Puget Sound's Best Places to Work for 7 years in a row and focuses on providing an exceptional client experience, then 1st Security Bank is the place for you. 1st Security Bank was named a bronze medal winner in its class in the Puget Sound Business Journal's Best Workplaces contest in its first year nominated and is also consistently rated a 5 star Bank in Washington State by Bauer Financial, an independent bank rating firm.

POSITION SUMMARY:

Identifies problem loans in the mortgage owned and serviced portfolios and develops work out strategy to minimize losses and ensure adherence to agency guidelines.

ESSENTIAL DUTIES AND RESPONSIBILITIES include the following:

 

  • Actively negotiates workout agreements with borrowers to recover problem loans and special assets.

  • Provides advise and counsel to credit administration regarding problem loans prior to their assignment as special assets.

  • Participates in the monthly problem loan meeting with updates on all downgraded mortgage loans.

  • Restructures loans in accordance with the bank’s credit policy or GSE guidelines.

  • Adhere to Fannie, Freddie, GNMA, FHA and VA collections, loss mitigation and foreclosure timelines.

  • Manage monthly reporting to agencies and insurers as required by contract.

  • Create and distribute monthly delinquency reports to management

  • Ensure collections practices are within policy and in keeping with company core values.

  • Works closely with collectors on instructions for loss mitigation and foreclosure alternatives.

YOU WILL BE ELIGIBLE FOR

  • Full medical, dental, and vision coverage for individual or family plan.

  • Life insurance.

  • Long- and short-term disability insurance.

  • 401K matching program.

  • Paid sick and vacation time.

OUR CORE VALUES

  • Relationship Driven - we strive to "WOW" (surprise, excite and delight) each other and our customers.

  • Ethical - fair, honest and act with integrity. 

  • Lead by Example maintain a positive attitude, show respect for others, and have some fun!

  • Accountable - we take our responsibilities seriously and we meet our commitments with urgency.

  • Team Player - dependable, enthusiastic contributor to team success and to the greater good of the bank.

  • Embrace Dreams - we encourage each other to reach for our dreams.

  • Diversity - we celebrate diversity and support equality for all.

  • Community Oriented - we actively support our communities and the Bank's CRA initiatives.

  • Open and Honest Communication - always professional, responsive, and timely.

Qualifications

EDUCATION and/or EXPERIENCE

  • Minimum five years mortgage portfolio management and loss mitigation experience including Fannie, Freddie, GNMA, FHA and VA or equivalent combination of education and credit underwriting experience.  

  • Thorough knowledge of all applicable regulations that pertain to this position including Fannie, Freddie and Ginnie AllRegs.

  • Knowledge of the Bank Secrecy Act and Anti-Money Laundering policies, procedures and related programs.

  • Strong computer skills including knowledge of all Microsoft Office products, DNA and Akcelerant experience is a plus.

COMPUTER SKILLS

To perform this job successfully, an individual should be proficient in Microsoft Office Products and willing and able to learn other software.

PHYSICAL DEMANDS AND WORK ENVIRONMENT

The physical demands described here are representative of those that must be met by an employee to successfully perform the essential functions of this job. The work environment characteristics described here are representative of those an employee encounters while performing the essential functions of this job. Reasonable accommodations may be made to enable individuals with disabilities to perform the essential functions.

  • The employee will operate in a general office environment, using office equipment such as a phone and a computer. The employee must be able to bend and squat occasionally when accessing storage.

  • The noise level in the work environment is usually quiet to moderate as compared to a private office with light foot traffic and office equipment. The employee must be able and willing and able to interact frequently with the general public.

Apply