Loss Mitigation Specialist

Full Time

Madison-Davis

EXTERNAL CLIENT ROLE

Summary

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.

Essential duties:

  • Initiate direct contact with borrowers to assess borrower’s 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 Bank’s policies, referring to collection law 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 collected 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.
  • Management 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
  • Other duties may be assigned
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