Chevron Federal Credit Union is one of the top-run credit unions in the country – and one of the largest, with $4.8 billion in assets. Yet our corporate culture is not stuffy: the Team Spirit Committee runs fun activities and charitable events throughout the year, and work-life balance, mutual respect, diversity, and providing a voice for every employee are all important to us. As you might imagine, we provide competitive pay and great benefits, including:
- Bonus/incentives for all regular employees
- 401(k) with 8% company contribution
- Medical, dental, and vision insurance for employees and dependents paid at 80%
- PTO and paid sabbaticals
- Tuition reimbursement
GENERAL SUMMARY:
Preserve the assets and financial stability of the Credit Union by controlling/reducing delinquency and minimize loss of the mortgage portfolio.
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Position Duties & Functions:
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Collection
- Responsible for Real Estate and unsecured loan loss mitigation and maximizing home ownership and collateral retention outcomes for members.
- Extensive skip tracing activities as needed to contact the member
- Obtain reason for delinquency once contact is made
- Documents all conversations and actions accurately in the collections database
- Negotiate repayment plan to resolve delinquent status
- Educate the members of the actions available to the CU to collect this obligation and takes appropriate action to bring current. Added emphasis of account resolution
- Ensures that all offset options have been utilized and search for associated joint accounts for accounts that offset is appropriate.
- Prepares daily, weekly and monthly reports on collection activity
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Modification
- Evaluate and offer mortgage forbearance, deferment, or consumer loan extensions, refinance or modification solutions, if warranted
- Advise members on avenues available to restructure their loans if warranted
- Gather necessary supporting documents
- Review real estate files to gather data
- Compile data and prepare Foreclosure Alternative worksheet for review
- Discuss with members the outcome of review
- Assist Mortgage Servicing in completion of modification if approved
- If loan was sold to investor, assist members by following their policies and procedures
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Short Sale, Deed-in-Lieu, and Foreclosure
- Assists members with voluntary and involuntary liquidation or settlement options when homeownership and collateral retention are not feasible, while minimizing credit union losses.
- Work with member, realtor and other lien holders to mitigate losses through possible short sale
- Conduct analysis and offer deed-in-lieu of foreclosure when appropriate to minimize losses
- Manage the foreclosure process by preparing and referring all real estate loans which meet the specified criteria within the required timeframe to trustee or law firm, depending on if its judicial or non-judicial foreclosure.
- Must always verify and report if loans are Fannie Mae
- Order BPO on Real Estate loan over 120 days delinquent after field chase is conducted.
- Order appraisal to determine if enough equity to foreclose on any junior liens
- Determine bid amount through analysis of AVM or appraisal and provide bidding instructions to trustee
- Must document all systems that allow everyone to know account status
- Compile data and prepare Foreclosure, Deed-in-Lieu, and Short Sale worksheet for review
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REO
- Force place Foreclosed Dwelling Insurance on property once it has reverted to REO status
- Sell Real Estate Owned property, by locating an agent and obtaining the proper follow-up on the account
- Submit appropriate documents to initiate sale
- Authorize appraisals and maintenance of property prior to sale
- Communicate with Accounting regularly on the status of the property to insure proper reserves
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Bankruptcy and Reporting
- Review, assign and follow up with attorney on loans in bankruptcy
- Report delinquent accounts over 30 days to Fannie Mae at the beginning of the month
- Report delinquent accounts over 60 days with MI to insurer
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Other duties as assigned
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POSITION REQUIREMENTS
EXPERIENCE and EDUCATION:
- 2-3 years of real estate loss mitigation or related experience required.
- Associate degree or equivalent from two-year college or technical school; or 5 years related experience and/or training.
- Equivalent combination of education and experience may substitute for stated qualifications.
KNOWLEDGE and SKILLS:
- Ability to interpret a variety of instructions furnished in written form, including but not limited to Policy and Procedure Manuals, Regulation Z, Section 91 – The Fair Credit Reporting Act, and UCC.
- Ability to read and interpret consumer loan documents such as, but not limited to, credit bureau reports, truth-in-lending disclosures, and promissory notes.
- Ability to read and interpret information on systems and documents such as account information, written agreements, vendor contracts, and policy and procedure manuals.
- Ability to write routine reports and correspondence, including email, using correct spelling and grammar.
- Ability to write and speak effectively in English using correct spelling and grammar.
- Basic math skills including the ability to compute rates, ratios, and percentages using a 10-key.
- Ability to read and interpret consumer loan documents such as, but not limited to, credit bureau reports, truth-in-lending disclosures, and promissory notes.
- Ability to read and interpret information on systems and documents such as account information, written agreements, vendor contracts, and policy and procedure manuals.
- Proficient in the use of basic applications in a Windows-based environment, including Outlook, Word, and Excel. Moderate keyboard skills at 40 wpm.
- Excellent customer service skills.
COMPETENCIES:
- Impeccably high integrity and must maintain complete confidentiality of member, employee, and Credit Union information.
- Willingness to take responsibility for his/her actions and respond promptly.
- Ability to learn quickly and adapt to change; ability to quickly learn specialized applications and systems.
- Initiative and self-direction.
- Ability to effectively communicate and collaborate with people at all levels.
- Sound problem-solving and decision-making ability, including the ability to prioritize.
- Ability to efficiently produce a significant volume of high-quality work.
- Must be able to travel to branches for audits, as required.
- The ability to understand and align with our core competencies through daily projects and tasks:
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Growth Mindset
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Diversity & Inclusion
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Communication
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Change Ready Leadership
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Responsibility
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Problem Solving
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Tech & Data Savvy
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CU Business Acumen
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PHYSICAL DEMANDS:
- Work involves extensive use of computers, up to eight hours per day. Appropriate visual, dexterity and other physical abilities are required.
- May include occasional pushing, pulling, or carrying objects weighing up to 20 pounds.
- Must be able to speak and present on the telephone and/or through digital means of communication, including but not limited to Zoom/Teams/or other video technologies.
We are an equal opportunity employer, and all qualified applicants will receive consideration for employment without regard to race, color, religion, sex, sexual orientation, gender identity or expression, pregnancy, age, national origin, disability status, genetic information, protected veteran status, or any other characteristic protected by law. Reasonable accommodations may be made to enable individuals with disabilities to perform the essential functions.
SALARY AND BENEFITS:
Salary is based on qualifications and geographical location (Zone). Benefit information can be located on our Careers page here: https://www.chevronfcu.org/about-us/careers
Zone 1: $57,680 - $79,310
Zone 2: $52,488.80 - $72,172.10
Zone 3: $48,451.20 - $66,620.40
Zone 4: $46,144 - $63,448
Please note that annual salary ranges are posted for these roles; however, compensation will be paid on an hourly basis, and the ranges displayed are based on 2,080 hours per year.
EQUAL EMPLOYMENT OPPORTUNITY STATEMENT:
Chevron Federal Credit Union (CFCU) is an equal opportunity employer. All qualified applicants will receive consideration for employment without regard to race, color, religion, sex, national origin, veteran status, disability, sexual orientation, gender identity, or any other protected status. CFCU participates in E-Verify.
If you are an individual with a disability and require a reasonable accommodation to complete any part of the application process or are limited in the ability or unable to access or use this online application process and need an alternative method for applying, you may contact us at 800-232-8101 for assistance.
CFCU Is CPRA Compliant for California Employees and Applicants, to review the Notice at Collection, click here. To submit a request, please refer to the Careers page for the CPRA Request Form.
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