Loss Mitigation Representative

Job Description

Loss Mitigation Representative

Job Summary:

In this role, you will manage the repossession process from assignment to resolution, ensuring compliance with regulations and internal procedures. You will collaborate with third-party agencies, assist in skipping tracing efforts, and maintain accurate records related to repossessions, insurance claims, and account recovery efforts.

Salary: $20.00- $28.00 Per Hour Depending on Experience

About Us:

Hughes Federal Credit Union is dedicated to providing a positive difference in our members’ financial lives. Our commitment to the Tucson community extends beyond our members as we sponsor and support local charities and organizations that promote the financial literacy of future generations. Join our team and see why we have been named a “Best-In-State” credit union, four years in a row!

Key Responsibilities:

Assign repossessions accounts to third-party agencies in a timely and accurate manner.

Review loan documents and credit reports to support skip tracing and locate members.

Coordinate with repossessions partners to recover collateral and mange case progress.

Create and send Notice of Intent and Notices of Deficiency Balance to members.

Process sales proceeds and track refunds from back-end loan products.

Monitor and complete claims with third-party insurance carriers as needed.

Process reinstatements and redemptions according to policy and within required timeframes.

Maintain accurate and up-to-date repossession tracking and charge-off projection logs.

Manager a personal queue of accounts to ensure timely resolution and goal achievement.

Review account history and determine next steps in the recovery process.

Communicate directly with members to discuss resolution options and payment arrangements.

Document all activity accurately within the electronic collections software platform.

Ensure all actions comply with internal policies, procedures, and applicable regulations, including the Fair Debt Collections Practices Act (FDCPA).

Utilize all available contact information to reach members, including phone numbers, addresses, and employer details.

Escalate serious collection issues to senior collection staff or the collections manager.

Qualifications:

Required:

Six months of similar or related experience

High school diploma or equivalent preferably

Strong attention to detail and organizational skills

Ability to handle sensitive information with discretion

Preferred:

Experience in collections, repossession, or recovery in financial services environment

Knowledge of FDCPA and other relevant regulations

Proficiency in electronic collection and loan servicing systems

Prior experience with third-party vendor coordination

Bilingual abilities are a plus

What We Offer:

Generous Paid Time Off Policy

Up to 15 days in 1st year of service

Paid Time Off increases with tenure

VTO (Volunteer Time Off) Up to 16 hours yearly

401(k) plan

7% company match

Health, Dental, and Vision Insurance

Health Savings Account with Employer Contribution Available

Free Vision Insurance

Life and Disability Insurance

Provided by the Credit Union with Optional Supplemental Coverage Available

Competitive Wage and Professional Development

Educational Assistance

Hughes Federal Credit Union is a background screening, credit check and E-Verify workplace.

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Full-time