November 6, 2024

General Electric Credit Union

Cincinnati

Loss Mitigation Specialist

Loss Mitigation Specialist (On-Site)

General Electric Credit Union is a not-for-profit, member-owned full service financial institution headquartered in Cincinnati with branches in Ohio and Kentucky. At GECU, we pride ourselves on maintaining quality service, being an employee-friendly workplace, and developing our team members while teaching you the skills to lead you to career advancement opportunities.

At GECU, we want to support your wellbeing by offering a wide range of benefits:

Health, Dental and Vision insurance
Life and Disability insurance options
Paid Time Off starts accruing once hired and take your birthday off - paid
401k Retirement plan with up to a 10% match of your base gross compensation
Tuition reimbursement opportunities & professional development
Volunteer opportunities -and earn additional PTO hours!
On-site clinics for Vaccines and Mammograms

And many more!

Come join GECU as we are a curated culture of respect, understanding, and mutual recognition. We believe forming bonds and connecting with each other only stands to strengthen the service we provide to our members in our mission of improving the Quality of Financial lives!

Overview:

The Loss Mitigation Specialist is responsible for helping borrowers avoid foreclosure and reduce financial losses for both the credit union and the borrower.

Essential Responsibilities:

Analyze financial information including review of financial statements, appraisals, and debt to create a plan for the borrower to make payments
Communicate with borrowers, explaining options including discussing programs and resources that may help
Collaborate with borrowers to negotiate workouts to restructure, modify, or short pay their loans
Review loans, ensuring that all efforts have been made to resolve a loan before considering foreclosure
Prepare foreclosure recommendations and submit to Senior Management for approval
Work with investors and government agencies to fulfill reporting requirements and obtain necessary approvals
Conduct quality assurance tasks, ensuring that all work performed in the department is of high quality

Education and Experience:

High school diploma or GED required; college preferred
Minimum five years of combined financial services experience
Minimum of five years of experience handling mortgages

Knowledge, Skills, and Abilities:

Background in banking or mortgages
Familiarity with loan procedures and programs
Ability to learn and maintain proficiency in multiple computer systems including Microsoft Office products (e.g., Excel)
Strong problem-solving skills
Ability to work well under pressure
Strong organizational abilities

General Electric Credit Union is an Equal Opportunity Employer