Small Business Collections Specialist - Military Veterans
at Flagstar
Job Description Summary:
Coordinate collection process for small business loans and home equity loans. Correspond with attorneys and Lenders, make recommendations on the recovery of funds and negotiate workouts.
Job Description:
Monitor daily delinquent loans, Monitor the over the credit limits, the Overdraft portfolio and coordinate with various PCG on appropriate action.
Review and approve signed documentation, such as Forbearance Agreement or settlement agreement, verified complaint, summons, Judgment - update accounts status records - prepare and present reports on Collection activities and progress
Confer with Private Client Group Directors on personal overdraft that reach 40 days and above and business overdraft that reach 70 days and above.
Prepare, submit and follow up on packages to lawyers on PPP /SBA loan, Commercial and Consumer loans and Overdraft portfolio accounts -
Comfortable working with Clients and Negotiate and approve settlement between clients and attorneys.
Resolve Clients credit issues and Contact clients to discuss their past due payments also Meet clients at bank location to discuss pay off options.
Analyze credit, financial statements and tax documents and recommend a payment plan.
Visit law offices to pick up checks, or documents as needed. Participate in quaterly meeting for Watchlist Heloc portfolio -Update monthly past due report and 45 days OD report - Monitor, prepare monthly GL reconciliation reports for the Collection Dept.
Prepare delinquent letters for clients prior of referring to legal - Quarterly update the Foreclosure Home Equity 1st position with the New York State website. Performed Monthly property inspection on the Foreclosure Heloc in 1st position
Acts as back up to manager when out of the office.
REQUIREMENTS:
4-5 years in collections, servicing, loan processing
College Degree or equivalent financial analysis work experience required
Knowledge of collection and credit laws, regulations, practices
Must be able to collaborate and negotiate with clients
Must be proficient in Microsoft Word and Excel
Excellent communication (written and verbal) required
New York, NY
On December 1, 2022, New York Community Bank (NYCB) and Flagstar Bank joined together to become one company. Today, New York Community Bancorp, Inc. is the parent company of Flagstar Bank, N.A., one of the largest regional banks in the country. The company is headquartered in Hicksville, New York, with regional headquarters in Troy, Michigan. The combined company has assets of nearly $90 billion.
Together, we operate almost 390 branches across 10 states, including strong footholds in the Northeast and Midwest with exposure to high growth markets in the Southeast and on the West Coast. Its Flagstar Mortgage Division operates a national residential mortgage business through more than 80 retail home lending offices and a wholesale network of 3,000 third-party mortgage originators. We believe in cultivating a diverse, inclusive, and respectful workplace that engages employees, broadens perspectives, and encourages teamwork. We hire people who represent the talents, experiences, backgrounds, and diversity of the communities we serve.
Together our goal is to deliver a new energy in banking to our customers, opening new doors for financial and personal success. Customers will have access to a broad spectrum of technology, products and services—all with a shared customer-first approach. Relationships are at the center of all that we do, enhanced by our commitment to delivering local market expertise, personalized solutions, and a long-standing focus on strengthening our communities.