The Manager, Real Estate and Legal Collections, is responsible for managing the Real Estate and Legal Collections Department and assigned staff in order to minimize the delinquency levels of real estate and other loans, process bankruptcy cases, manage legal accounts and maximize charge-off recoveries, proactively, in compliance with state and federal laws and regulations

1. Supervises, coordinates, and evaluates the operations of the department and ensures that efficient and effective collections and recovery methods are in place.  Manages processes to minimize delinquency and potential losses of the Credit Union and maximize recoveries.
2. Proactively responds to and attempts to satisfy and resolve members' problems, complaints, etc., within the scope of the credit union's policies and procedures.  Actions may include, but are not limited to: loan modifications, legal action, foreclosure, settlements on charge-off accounts, as well as freezing shares for delinquent purposes. 
3. Leads the Loss Mitigation Committee in reviewing complex real estate loan matters such as loan modifications, short sales and foreclosures. Determines the financial risk to the credit union and provides this information (in written form) to Accounting for provisional purposes.  Develops recommendations and responsible, upon approval by the VP & Sr. Mgt, for final disposition of delinquent and/or problematic real estate loans and ensures they are resolved in accordance with service agreements, procedures, and regulatory requirements. This includes charge off, settlement of debt, foreclosures and sale of foreclosed real estate. 
4. Manages investor servicing requirements, i.e. Fannie Mae, Freddie Mac etc., and private mortgage insurer’s guidelines and how these requirements affect mortgage collections and foreclosures.  Monitors activity of specialists to ensure that required reporting to investors and mortgage insurance companies (Fannie Mae and PMI companies) is completed on time on a monthly basis.
5. Ensures that the company is in compliance with bankruptcy law in processing bankruptcy case filings by it's members. This includes coding accounts, preparing proofs of claim and working closely with attorneys.
6. Takes legal action to collect debts owed, including negotiating payment arrangements, filing suit, and referring accounts to outside attorneys.
7. In conjunction with the Manager, Consumer Loan Collection administers, develops parameters, documents and implements Tower’s collections system and collection technologies.  Also acts as administrator for various software applications or third party systems, including:  PMI companies, FNMA, Five Brothers and real estate valuation services.
8. Provides assistance to the Consumer Loan Collections unit with regard to the credit bureau direct dispute process including both direct disputes to the company and disputes made the credit bureaus and processed through E-Oscar.  Assist with 1099-A and 1099-C tax reporting.
9. Initiates and manages relationships with third party providers and implements actions intended to improve operational effectiveness and services to members.  Acts as primary contact with various vendors, including: collections attorneys, foreclosure attorneys, door knocking services, etc.
10. Accurately reports  delinquent accounts to Accounting on a quarterly basis for the NCUA 5300 call report.  Accurately prepares monthly reports to Senior Management and the Board of Directors to provide reliable information regarding delinquent loans, including trends and analysis. 
11. Demonstrates strong knowledge for all company products and services in order to assist subordinates and members to resolve questions and problems and to interpret policy and procedures, and to exercise override authority.
12. Keeps abreast of current laws and related changes that pertain to collections in areas such as bankruptcy, FDCPA, SCRA, credit reporting, loan modifications and foreclosure to ensure compliance in these areas.  This includes State and Federal regulations as well as company policies and guidelines to ensure compliance and consistency of services. 
13. Coordinates with Internal Audit during departmental audits warranted to provide requested information and documentation.  In addition, cooperates and provides appropriate documentation to Accounting for NCUA exams. 
14. Assures the appropriate security measures are implemented by the department and that operations are compliant with Tower policies and procedures, state and federal laws and regulations, and internal controls to safeguard member accounts.  This includes assuring the confidential records, checks and other sensitive or private information are secured at the close of business.
15. Accepts Team Leader accountabilities or responsibilities, for new and existing legal regulatory compliance activities. This responsibility may include, but not be limited to, a range of actions (e.g.: compliance monitoring and reporting, developing materials and communications, serving as liaison to external authorities, providing education to employees, conducting audits, participating in training updates, etc.) as determined by the position level or delegated authority from Senior Management or the Board of Directors.  In the role of Team Member, accepts responsibilities at the direction of the Team Leader.
16. Facilitates coordination with other departments especially the Consumer Loan Collections Department, to develop joint procedures, resolve interdepartmental issues, coordinate and support activities/initiatives if warranted.
17. Prepares monitors and maintains annual budget for the unit.
18. Hires the unit’s personnel and directs, trains, motivates, and evaluates staff members.  Identifies performance deficiencies, coaches employees, institutes remedial actions when appropriate and monitors the achievement of development plans

Must Have:

Thorough knowledge of at least 4 of the following is required: real estate loan collections processes, real estate loan modifications, foreclosure and REO processes, Fannie Mae servicing requirements, short sales, legal action, and bankruptcy

Minimum 3 years of management experience, 5 years preferred. Will be managing 5 people. 

General knowledge of repossession, credit reporting disputes, settlements on charged-off accounts, freezing shares for delinquent purposes and answering court attachments (even though job description says nice to have, they were clear these are must have's)

College degree with a minimum of 5 years experience, or 8 years of experience without a college degree.

Must be a US Citizen

TFO Clearance Required

This person should have experiecne with real estate loans processing, foreclosure, bankruptcy, repossession, etc...

Needs experience with investor servicing requirements, i.e. Fannie Mae, Freddie Mac etc., and private mortgage insurer’s guidelines and how these requirements affect mortgage collections and foreclosures.