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Bank Repossession Jobs in Riverside, CA (NOW HIRING)

M&T Bank

Collections & Credit Specialist

Irvine, CA · On-site

$34.68 - $57.80/hr

Coordinates and closes loan modifications, public foreclosure sales, and repossession activities ... Promote and environment that supports belonging and reflects the M&T Bank brand. * Maintain M&T ...

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Bank Repossession information

What is the difference between Bank Repossession vs Auto Appraiser?

AspectBank RepossessionAuto Appraiser
Required CredentialsRepossessors often need a license or certification, knowledge of legal proceduresAppraisers typically require certifications like ASA or state licensing, knowledge of vehicle valuation
Work EnvironmentFieldwork, often on-site at repossession locations or vehiclesOffice-based, inspecting vehicles and preparing appraisal reports
Industry UsageUsed by banks, lenders, and repossession agenciesUsed by insurance companies, dealerships, and auction houses

While both roles involve vehicles, Bank Repossession focuses on recovering collateral for lenders, often requiring legal and fieldwork skills. Auto Appraisers evaluate vehicle value for insurance or sale purposes, mainly working in office settings. Both roles are essential in the automotive and financial industries but serve different functions.

What jobs pay 2000 a day?

High-paying jobs related to bank repossession typically include roles such as senior repossession agents, asset recovery managers, or specialized legal professionals, which can sometimes earn around $2,000 per day depending on experience, location, and case complexity. These positions often require extensive industry knowledge, certifications, and a strong understanding of collateral and legal processes. Such earnings are usually associated with freelance, commission-based, or highly experienced roles in the field of asset recovery and repossession management.

What are some common challenges faced by professionals working in bank repossession, and how can they be managed?

Professionals in bank repossession often encounter challenges such as dealing with emotionally charged situations, navigating complex legal requirements, and ensuring safety during the recovery process. Managing these challenges requires strong communication skills, up-to-date knowledge of relevant laws and regulations, and adherence to strict ethical guidelines. Many teams rely on thorough training, clear protocols, and collaboration with legal and security experts to ensure repossessions are handled effectively and respectfully.

What are bank repossession jobs?

Bank repossession jobs involve recovering property, such as cars, homes, or equipment, that borrowers have failed to pay for according to loan agreements. Professionals in this field, often called repossession agents or recovery agents, locate and reclaim assets on behalf of banks or financial institutions. Their work requires knowledge of state and federal laws, negotiation skills, and sometimes coordination with law enforcement. These jobs can be physically demanding and may involve dealing with stressful or confrontational situations. Many repossession agents work for specialized recovery companies contracted by banks.

How to become a licensed repossession agent?

To become a licensed repossession agent, you typically need to complete a state-specific training program, pass a background check, and obtain a license or certification from the relevant state authority. Some states also require a surety bond or insurance and adherence to federal and state regulations governing repossession activities. Gaining experience in law enforcement or security can be beneficial, and knowledge of legal procedures and communication skills are important for success in this role.

What are the key skills and qualifications needed to thrive as a Bank Repossession Agent, and why are they important?

To thrive as a Bank Repossession Agent, you generally need knowledge of repossession laws, negotiation skills, and a clean driving record, often supported by a high school diploma or equivalent. Familiarity with skip tracing tools, asset tracking software, and repossession management systems is typically required. Strong communication, conflict resolution, and discretion are essential soft skills for dealing with debtors and sensitive situations. These skills ensure lawful, safe, and effective recovery of assets while maintaining professionalism and compliance with regulations.

How do repossession companies get paid?

Repossession companies typically get paid through a fee charged to the lender or financial institution for each vehicle they recover. The fee can be a flat rate or a percentage of the vehicle's value, and payment is usually made after successful recovery and documentation of the vehicle. Some companies also charge additional fees for storage or administrative costs.

How do I get a job as a repo man?

To become a repo man, you typically need a high school diploma or equivalent, a valid driver's license, and a clean driving record. Some employers require specialized training or licensing, and knowledge of local laws and repossession procedures is important. Gaining experience in security, law enforcement, or automotive recovery can also be beneficial.
What job categories do people searching Bank Repossession jobs in Riverside, CA look for? The top searched job categories for Bank Repossession jobs in Riverside, CA are:
Bank Repossession jobs near you
Collections & Credit Specialist

Collections & Credit Specialist

M&T Bank

Irvine, CA • On-site

$34.68 - $57.80/hr

Full-time

Posted 3 days ago

M&T Bank rating

7.8

Company rating: 7.8 out of 10

Based on 181 frontline employees who took The Breakroom Quiz

67th of 142 rated banks

Job description

Overview:

Reporting to the SVP, Operations this position is responsible for collecting all levels and stages of delinquency in the M&T Equipment Finance Corporation ("MTEFC") loan portfolio. Gathers and analyzes financial information and makes recommendations to management regarding loss mitigation, collateral valuation, and recovery strategy. Coordinates and closes loan modifications, public foreclosure sales, and repossession activities for the MTEFC portfolio.

Primary Responsibilities:
  • Collect on all levels and stages of past due MTEFC accounts in compliance with Federal and local collection laws and internal credit policies and procedures. Document all collections activity within the collections system. Provide regular status reports to Operations Management regarding account-level activities.
  • Contact borrowers, guarantors, and their representatives to discuss past due status and develop payment strategies to return accounts to current status. Work closely with sales team members and other outside resources to effectively manage delinquent accounts and minimize potential losses. Identify and communicate risk-related issues needing escalation to management.
  • Manage portfolio-related customer service requests to include account reconciliations, amortization schedules, payoff requests, general account research and other similar tasks.
  • Understand and utilize consumer and commercial credit reports, gather financial statements, tax returns, bank statements, and other information to effectively coordinate with management to develop payment strategies and workouts on more complex or unique situations.
  • Review borrower applications and financial information for completeness, prepare collateral analyses, and present sound recommendations on accounts that request a loan restructure or extension. Prepare, structure, and document any modifications on loans that have been approved by management, including pricing and coordinating the required signatures on all documentation from the borrowers.
  • Recommend and manage late-stage collection activities such as repossessions, prepare and conduct foreclosure sales, and assist in the remarketing of equipment. Understand and adhere to the Company's risk and regulatory standards, policies, and controls as well as the Fair Debt Collection Practices Act.
  • Promote and environment that supports belonging and reflects the M&T Bank brand.
  • Maintain M&T internal control standards, including timely implementation of internal and external control points together with any issues raised by external regulators as applicable.
  • Complete other related activities as assigned.
Education and Experience Required:

Bachelor's degree preferred. A minimum of 3 years' related work experience with a preference for experience working for an equipment financial firm.

Familiarity with consumer and commercial credit reports, as well as an in-depth understanding of promissory notes, loans, leases, and other documents/laws that govern repayment of commercial contracts.

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M&T Bank is committed to fair, competitive, and market-informed pay for our employees. The pay range for this position is $34.68 - $57.80 Hourly (USD). The successful candidate's particular combination of knowledge, skills, and experience will inform their specific compensation.LocationIrvine, California, United States of America

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