Loss Mitigation Specialist

Full Time

Madison-Davis Client

Overview

To secure payments on delinquent mortgage accounts, HELOCS, and resolve mortgage account issues in a team-oriented atmosphere following all federal guidelines by performing the following duties

Responsibilities:

  • Initiate direct contact with borrowers to assess borrowers’ situation and obtain repayment options to reduce potential losses to the bank in accordance with regulations and company policies
  • Collection of assigned delinquent accounts using the policies of the Bank referring to collection laws set forth by regulatory agencies when calling customers¬†
  • Records information about the financial status of customer and status of collection efforts, suggests various options to bring accounts current
  • Ensure customer letters and written notices are sent in a timely manner and in accordance with regulations and company policies
  • Handle inbound collection and customer service calls.
  • Utilize skip tracing skills to locate mortgage customers.
  • Review delinquent loans for loss mitigation work out options, modifications and special forbearances.
  • Review collateral conditions and asset value
  • Notifies PMI, government agencies and investors of existing defaults and possible foreclosure action
  • Receives payments and documents amount paid to customer accounts. Return unacceptable payments. Process payments using Western Union and Pay Simple.
  • Manage foreclosure and loss mitigation accounts.
  • Work with credit reporting agencies to ensure accurate credit reporting using E-Oscar
  • Knowledge of Foreclosure, Bankruptcy, REO/ Property Preservation, Post Charge Off Collections.
  • Provide payoff requests.

Job Requirements:

  • Associates degree and three years related experience and/or training; or equivalent combination of education and experience.
  • Must have working knowledge of Word and Excel.¬†

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