Commercial Loan Collection Officer Salary in Fridley, Minnesota

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Average Salary for Commercial Loan Collection Officer in Fridley, Minnesota

The average salary of a(n) Commercial Loan Collection Officer in Fridley, Minnesota is $58,120.

The average hourly rate of a(n) Commercial Loan Collection Officer in Fridley, Minnesota is $27.94.

The average bonus of a(n) Commercial Loan Collection Officer in Fridley, Minnesota is $1,848.00.

Job Description:

Coordinates activities to collect delinquent commercial loans. Reviews files of commercial loans in default to determine collateral held by bank. Typically requires a four-year college degree in addition to job experience in a related field. 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. 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, such as 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, such as machines, equipment, and inventory at public auction. Specifies changes to bank records on value of loan. May testify at legal proceedings. Less

Coordinates activities to collect delinquent commercial loans. Reviews files of commercial loans in default to determine collateral held by bank. Typically requires a four-year college degree in addition to job experience in a related field. Writes letter to customer to... More

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Quantitative Analytics Cons 1 - Minneapolis, MN

Wells Fargo

Technical understanding of credit, loan portfolio performance, and financial information including the allowance for loan loss....

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