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ING Direct

J O B  I N F O R M A T I O N
Title:Default Servicing Associate Loan RecoverySalary:Open/flexible - 0
City:Wilmington Location: DE
Category:Credit BankingPosted: 11/1/2008
P O S I T I O N  I N F O R M A T I O N
Asset Management at ING DIRECT is responsible for portfolio and loan level management of the bank's retail loan assets and providing appropriate analysis and performance monitoring. More specifically, the Default Servicing Team within the Asset Management function is responsible for debt collection, loss mitigation intervention, foreclosure and bankruptcy management, default reporting and analysis.

The primary purpose of the Default Servicing Associate is to effectively and efficiently pursue collection of charged-off loan obligations as well as those involving fraud or misrepresentation. The Default Servicing Associate is expected to ensure compliance with all Federal, State and municipal rules and regulations as required. This position will serve as the primary liaison to outside counsel and other third party professional service providers engaged by the bank.

Essential Functions:

* Communicate with borrowers, attorneys and third parties in the answering of questions related to loan files

* Work in conjunction with internal Fraud and legal teams to manage collection and loss mitigation efforts associated with Fraud accounts.

* Record all activity in the appropriate systems, document the current status of delinquent loans, and follow up continually for pertinent documentation as required

* Initiate and complete legal actions in a timely and in a cost-effective manner within insurer and internal guidelines

* Prepare referral letters for trustees and/or attorneys, in accordance with guidelines

* Respond to borrower requests and complaints

* Provide re-instatement quotes, releasing pay-off statements and reviewing confirmation letters

* Receive, validate new bankruptcy notifications and set up in servicing system

* Develop and maintain relationships with bankruptcy attorneys, bankruptcy trustees, debtor's attorneys and ING DIRECT in-house legal counsel.


* Strong interpersonal and negotiating skills are necessary.

* Some supervisory experience is an asset.

Education and/or Certifications:

* Bachelors Degree preferred.

Technical skills and abilities:

* Strong writing and analytical abilities. Excellent PC and related software skills. Knowledge of loan originations, collections and loss mitigation strategies. Exceptional organizational skill is required.

Working Conditions:

* Extensive phone and PC usage. Flexible work schedule to accommodate various time zones and/or business needs.

Physical/Mental Requirements:

* Ability and willingness to work on numerous projects simultaneously with a flexible work schedule that is dependant on the needs of the department and its goals.

ING DIRECT offers one of the best benefits plans around, providing medical and dental health coverage; flexible spending accounts; 401K retirement plans and fitness programs.

We're on a mission to lead Americans back to saving and are looking for some people who share that passion to join our team. Our successful Orange Savings Account and Orange Mortgage have set the bar for how to simplify financial products to provide a better deal for consumers. If you are an energetic individual interested in helping build a different kind of bank, we look forward to hearing from you. To learn more about us, visit

How to apply: Please copy and paste the following link into your browser address bar:

B E N E F I T  I N F O R M A T I O N
C O N T A C T  I N F O R M A T I O N
Name:Human ResourcesPhone:999-999-9999
Title:Default Servicing Associate Loan Recovery800#:
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