Loss Mitigation Specialist

The Loss Mitigation Specialist supports centralized recovery functions by assisting with collections, loss mitigation, recovery, and foreclosure-related activities. This role works closely with internal partners and external vendors to help borrowers explore alternatives to foreclosure or repossession while minimizing financial losses to the organization. Responsibilities include supporting foreclosure and bankruptcy processes, managing third-party collections relationships, maintaining collateral assets, administering consumer credit disputes, and completing related administrative and compliance functions in accordance with regulatory and organizational standards. 

• Loss Mitigation and Borrower Assistance

• • Review and monitor loss mitigation applications, repayment plans, forbearance plans, and loan modifications.
  • Educate borrowers on available options, process payments, and establish payment arrangements to cure delinquency.

• Collections, Recovery, and Bankruptcy Management

• • Manage delinquent accounts through collections, repayment negotiations, charge-offs, and recovery efforts.
  • Handle bankrupt accounts in compliance with federal statutes, including preparing proofs of claim and related documentation.

• Foreclosure, Repossession, and Asset Management

• • Support foreclosure and repossession processes, including preparation of referral files, coordination with vendors, and asset maintenance.
  • Assist with OREO and collateral management, insurance oversight, and sale preparation.

• Third-Party Vendor and Agency Oversight

• • Coordinate and monitor attorney, collection agency, and vendor relationships.
  • Manage referrals, remittances, reporting, and required regulatory filings, including 1099-C reporting.

• Documentation, Reporting, and Administrative Support

• • Maintain accurate records, system codes, credit dispute documentation, and regulatory reporting.
  • Provide administrative and operational support and back-up coverage to ensure continuity of department functions.

• High School Diploma or equivalent required; minimum of four years of relevant experience in collections, recovery, lending, or a related financial services function.
• Demonstrated success in delivering high-quality customer service, particularly in complex or sensitive situations.
• Ability to work independently while managing competing priorities and meeting established timelines.
• Strong organizational, analytical, and attention-to-detail skills with the ability to produce accurate documentation.
• Effective written and verbal communication skills appropriate for customer, vendor, and regulatory interactions.
• Experience in a residential lending, mortgage servicing, or loss mitigation environment preferred.
• Proven ability to analyze information and recommend solutions that support both borrower outcomes and organizational objectives.

• Medical
• Dental
• Vision
• 401(k) Match
• Profit Sharing
• Paid Time Off
• 11 Holidays
• Tuition Reimbursement
• Free Parking throughout Tompkins Community Bank
• Employee Referrals

Tompkins is committed to a policy of Equal Employment Opportunity ("EEO") with respect to all team members and applicants for employment and a work environment free from discrimination (including unlawful harassment) based on race, color, religion, sex, sexual orientation, transgender status, gender non-conformity, gender identity, gender expression, national origin, age, marital status, domestic violence victim status, disability, predisposing genetic characteristics, military or veteran status or status in any group protected by federal, state, or local law. 

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