Position: Mortgage Collections Specialist
Location: Hillsboro, OH
Nature & Scope: Collect past due balances on delinquent mortgage accounts by contacting borrowers and collecting payment or negotiating payment arrangements. Determine reasons for default and assess borrower’s ability to pay. Use this information to counsel borrower’s on available loss mitigation and foreclosure prevention alternatives.
Work with larger special servicing team to put in place, monitor and report on loss mitigation and foreclosure prevention solutions.
Comply with all applicable NCB, investor and regulatory requirements in all aspects of dealing with delinquent borrowers.
- Make outbound collection calls to delinquent borrowers to establish valid contact, understand the situation leading to the delinquency, counsel borrowers on their options, and collect payment / establish payment arrangements whenever possible
- Take inbound calls from delinquent borrowers and counsel them on their options to cure their delinquency / avoid foreclosure
- Document hardships, other factors contributing to delinquency and complete regulatory compliance checklist as a record of customer interaction
- Negotiate, process and monitor payment plans with delinquent borrowers
- Escalate non-responsive accounts to foreclosure based on NCB, investor and regulatory guidelines
- Generate, send and follow-up on various customer and regulatory mailings – including but not limited to delinquency notices, borrower assistance packages, etc.
- Research accounts where no customer contact has been made to correct / find alternative phone numbers, emails, etc.
- Assist other team members with various loss mitigation or foreclosure alternative solutions, including but not limited to:
- Preparing or reviewing documentation
- Following up with borrowers
- Tracking and reporting
- Comply with all NCB, regulatory and investor guidelines in dealing with delinquent accounts and thoroughly document all interactions
- Participate with the team in control testing and audits, management reporting activities and other special projects as assigned
- Associates degree in business preferred
- One to two years of related experience (e.g., collections, call center, customer service)
- Excellent customer service
- Good oral and written communications
- Attention to detail and the ability to multi-task
- Analytical and negotiation skills to negotiate payment plans and maximize collections from delinquent borrowers
- Ability to understand and comply with multiple, complex and frequently changing regulatory and investor requirements
- Flexibility to work with a small team, and adapt to a dynamic regulatory environment – e.g., to adjust to frequently updated procedures and documentation / reporting requirements
- Superior integrity required to work in an environment with access to borrower’s sensitive personal and financial information
- Solid skills / experience with computers and general office automation – e.g., MS Office suite, Collection Management Systems is a plus