Commercial Loan Collection Officer: A description for the commercial loan collection officer job

Jobs In Medicine And Health » Managers And Officials Nec » Finance Insurance And Real Estate Managers And Officials » Commercial Loan Collection Officer

Commercial Loan Collection Officer: Alternate titles: special loan officer Coordinates activities to collect delinquent commercial loans: Reviews files of commercial loans in default to determine collateral held by bank. Writes letter to customer to demand payment of loan balance. Calls or visits customer to determine if repayment plan can be established. Computes repayment schedule, using calculator. Determines if status of customer’s financial position prevents repayment of loan and justifies re- classifying loan as non-revenue producing. Initiates collateral liquidation when customer does not repay loan. Petitions court to transfer title and deeds of collateral to bank. Coordinates maintenance and repairs to property. Coordinates activities to maintain income flow related to seized assets, for example notifying renters to mail payments to financial institution. Calls real estate broker to initiate sale of real estate. Calls auctioneer or liquidation specialist to sell specified property, for example machines, equipment, and inventory at public auction. Specifies changes to bank records on value of loan. May also testify at legal proceedings.

Job industry: financial industry

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