Advanced Collections Specialist
: Job Details :

Description:

Position Summary:

The Advanced Collection Specialist provides counseling to borrowers with past due loan payments and performs foreclosure prevention on loans through contact with customers. Performs advanced collection activities on delinquent accounts.

Duties and Responsibilities:

Conducts foreclosure prevention counseling and collection calls for mortgage loan customers; establishes a rapport with the borrower; determines the reason for the delinquency, determines if borrower has vacated the property or plans to vacate, determines the borrowers perception of their financial circumstances and ability to repay the mortgage; sets payment expectations and educates borrower on foreclosure prevention alternatives; obtains a commitment from the borrower to either bring the loan current or engage in foreclosure prevention alternatives.

Performs advanced collection activities for delinquent loan accounts; inputs messages and proper coding into the database for loans that have deceased borrowers and/or any other legal status pertaining to the loan; tracks delinquent loan accounts and prepares advanced collection correspondence and call letters on accounts.

Utilizes core collection application to maintain accurate records of collection activity.

Sends out correspondence to obtain financial information from delinquent borrowers; makes follow up counseling calls after the solicitation is mailed.

Reports to all investors the proper loan event items that pertain to the foreclosure prevention process; keeps investors informed on items that are met or are not met for the foreclosure prevention process through their reporting requirements as to the status of the loans.

Reports information to supervisor and the Loss Mitigation Specialist for accounts that need to be referred to them for follow up; provides reporting updates on all collector activity to management.

Maintains general knowledge on loss mitigation programs; acts as primary back-up to the Loss Mitigation Specialist Reviews delinquent accounts that may require an inspection, prepares and submits monthly order for inspection maintains accurate records of completed inspections.

Responds to document requests as part of subpoenas, gathers documents from origination and servicing files as needed and distributes to legal department or requesting attorney.

Complies with all applicable banking laws and regulations, including but not limited to the Bank Secrecy Act, USA Patriot Act and related anti-money laundering statutes and federal consumer protection legislation and regulations.

Other duties as required.

The duties outlined above are a summary and may not be an exhaustive or comprehensive list of all possible responsibilities, tasks, and duties. All job descriptions may be amended at any time at the sole discretion of FMHC.

Requirements:

Skills and Qualifications:

3+ years experience in mortgage servicing/collections is required along with a strong understanding of lending laws, regulations, and guidelines.

Experience in financial services or banking is preferred.

Notary Public is preferred.

High School Diploma or equivalent is required; Bachelor's degree is preferred.

Proficiency in MS Office [Outlook, Excel, Word] or similar software is required. Encompass, Cleartouch, Nautilus, various government and investor software/web portals is preferred.

Necessary competencies:

Resilience

Collaboration

Communication

Service Orientation

Quality Focused

Process Oriented

Accountability

Physical Environment

• While performing the duties of this job, the employee is regularly required to lift, walk, stand, sit, bend, reach with hands and arms, climb, push/pull, use hands, and see, hear and speak.
• The employee must occasionally lift and/or move up to 25 pounds.
• The noise level in the work environment is usually quiet to moderate.
• This position is performed in an office setting, five days a week with typical work hours being 8.30a through 5.15p.

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