Mortgage Collection Specialist

Position Overview:
A Mortgage Collection Specialist is responsible for contacting homeowners with delinquent mortgage payments, attempting to collect overdue amounts, and negotiating repayment plans to bring accounts back into compliance, while adhering to all legal regulations and company policies related to debt collection; requiring strong communication, negotiation skills, and a thorough understanding of mortgage servicing procedures.

Key Responsibilities:

· Identify delinquent accounts: Monitor mortgage loan portfolios to identify accounts that are past due and require collection efforts.

· Contact borrowers: Reach out to borrowers via phone, email, and mail to discuss their overdue payments and initiate collection attempts.

· Negotiate payment plans: Work with borrowers to establish feasible repayment plans based on their financial situation, including potential loan modifications or forbearance options.

· Resolve customer issues: Address borrower concerns and questions regarding their mortgage delinquency, providing clear explanations and support.

· Maintain accurate records: Document all contact attempts, payment arrangements, and account updates in the loan servicing system.

· Escalate complex cases: Refer accounts with significant delinquency or legal issues to appropriate departments for further action.

· Compliance with regulations: Ensure adherence to all federal and state laws related to debt collection, including Fair Debt Collection Practices Act (FDCPA) guidelines.

Required Skills:

· Excellent communication skills: Ability to effectively communicate with borrowers in a professional and empathetic manner, both verbally and in writing.

· Negotiation expertise: Strong negotiation skills to reach mutually agreeable payment arrangements with borrowers facing financial hardship.

· Problem-solving abilities: Analyze borrower situations and identify appropriate solutions to resolve delinquency issues.

· Customer service focus: Prioritize providing outstanding customer service to borrowers while managing collection efforts.

· Knowledge of mortgage servicing: Understanding of mortgage loan servicing processes, including loan documents, payment calculations, and delinquency management.

· Data analysis skills: Ability to review account details and financial information to assess borrower circumstances.

Other Skills/Abilities:

· High school diploma, associate's degree or equivalent experience preferred

· Prior experience in collections, customer service, or mortgage servicing is beneficial

· Familiarity with loan servicing software systems

NOTE: This job description is not intended to be all-inclusive. Employee may perform other duties as directed by management to meet the ongoing needs of the organization.

Job Type: Full-time

Pay: $50,000.00 - $55,000.00 per year

Benefits:

• 401(k)
• Dental insurance
• Health insurance
• Life insurance
• Paid time off
• Vision insurance

Experience:

• Microsoft Excel: 1 year (Preferred)
• Customer service: 1 year (Preferred)

Ability to Commute:

• Melville, NY 11747 (Required)

Ability to Relocate:

• Melville, NY 11747: Relocate before starting work (Required)

Work Location: In person

Salary : $50,000 - $55,000