Skip Navigation Documents in Portable Document Format (PDF) require Adobe Acrobat Reader 5.0 or higher to view,download Adobe® Acrobat Reader.
Park State Bank

Loss Mitigation Associate

Hours: 8:00am - 5:00pm Monday - Friday
Location: Two Harbors


The Loss Mitigation Associate will place collection calls and correspond with delinquent borrowers.  Become well versed in the borrowers’ options to cure the default and present the borrower with the best options for their delinquent loan. Additionally, they will support and execute other areas of the loss mitigation department, including but not limited too; foreclosure proceedings, delinquent taxes, bankruptcy cases.  Work in the bank’s core system application and ensure that customer data and reporting is accurate.  Comply with large servicer requirement pertaining to loss mitigation as well as other regulations pertaining to delinquent loan collections.  Takes daily direction from the Loss mitigation Manager but works closely with other departments within the bank such as the Chief Credit Officer, SVP Operations, Loan Servicing manager.


  • Perform collection calls or correspondence to customers with past due payments
  • Document call attempts as well as customer conversations within the core system
  • Answer customer inquiries related to past due payments
  • Advise customers on retention or non-retention loss mitigation options available based on loan type, state, and investor parameters. Assist in establishing payment plan options to maximize borrower success in retaining their home.
  • Work with Grid, Fannie, FHLB, VA servicing agencies to provide loan modification or forbearance options for the borrower
  • Analyze specific financial situations to recommend and initiate the proper loss mitigation option
  • Precisely document communication with customers in regards to their loans
  • Offer assistance using loss mitigation options to preserve home ownership and minimize loss due to foreclosure
  • Monitor and analyze various reports for the department on a daily basis
  • Monitor bankruptcy court status, processes, and accounts for loan payments associated with bankruptcy plan.
  • Assist in preparing documentation and correspondence for foreclosure proceedings and monitor case status
  • Ability to leverage technology and other tools to ensure processes are as efficient as possible
Other duties may be assigned.

  • Perform quality work within determined timeframes.
  • Must be adept at problem solving, being able to identify and solve problems in a timely manner
  • Interact professionally with other employees, customers, vendors and shareholders.
  • Work effectively as a team contributor on all assignments.
  • Work independently while understanding the necessity for communicating and coordinating work efforts with other employees, departments, divisions, etc.
  • Work on additional tasks, assignments and projects as needed.


Education & Experience:

  • A 2 year Accounting, Finance, Economics, or Business Degree with other banking experience is preferred.

  • A minimum of 1 years banking experience in preferably in the loan area. Must be proficient with Microsoft Word/Excel/Outlook. 

Other Skills:
  • Demonstrated experience working in a fast-paced environment on multiple projects simultaneously.
  • Ability to work independently and effectively collaborate with a team
  • Must be able to maintain confidential information
  • Must be adept at problem-solving, including being able to identify issues and solve problems in a timely manner
  • Must be able to communicate clearly, both in writing and orally, with employees, management and co-workers
  • Highly organized and strong attention to detail


Will need to be able to handle stressful situations and function in a very fast-paced environment while remaining calm and precise.  Must have excellent interpersonal and organizational skills and enjoy working with the public. Will need to communicate in a clear, concise, and pleasant manner.

May, on occasion, have to work longer hours than scheduled.

Must be able to meet deadlines, multi-task and adjust priorities as necessary. Must possess strong organizational, analytical, communication, and interpersonal skills, including the ability to work with all levels of management and the Bank’s vendors.  Must be a self-starter who challenges existing processes and can identify and implement efficiencies and cost-saving solutions. Will have access to and knowledge of all employees’ accounts, customer information, and the bank’s finances, so the ability to keep information confidential is extremely important.

The employee will be working in an indoor office setting in a light work situation (exerting up to 20 lbs. of force frequently, and/or a negligible amount of force constantly to move objects). Must be able to remain in a stationary position 50% of the time and be able to occasionally move about inside the office to access file cabinets, office machinery, etc. Constantly operates a computer and other office productivity equipment. Employee frequently communicates with employees, customers and vendors. Must be able to exchange accurate information both orally and written in English. Employee will be required to travel to branches located within the region.

Despite ongoing security training, there is always the possibility of a bank robbery.


This description is not designed to cover or contain a comprehensive list of activities, duties or responsibilities that are required of the employee. Other duties may be assigned as necessary.