Loan Servicing Collections & Loss Mitigation Specialist

Leader Bank•Arlington, TX

About The Position

We are seeking a detail-oriented and client-focused Loan Servicing Collections Specialist to support our loan servicing operations with a focus on collections and loss mitigation. This role requires strong knowledge of loan servicing practices, regulatory compliance—particularly with Fannie Mae and Freddie Mac guidelines—and a commitment to delivering a positive client experience. The ideal candidate will be proactive, organized, and skilled in managing delinquent accounts while maintaining compliance and professionalism. The specialist will also be responsible for evaluating and executing loss mitigation strategies in accordance with investor guidelines, including Flex Modifications, Payment Deferrals, Forbearance, Short Sales, and Deeds-in-Lieu of Foreclosure.

Requirements

10+ years of experience in collections, preferably in a financial institution.
Working knowledge of Fannie Mae and Freddie Mac loan servicing and loss mitigation requirements, including Flex Modification, Payment Deferral, and Short Sale protocols.
Strong communication and negotiation skills with a client-centric approach.
Ability to manage multiple priorities and meet deadlines in a fast-paced environment.
Proficiency in loan servicing systems and Microsoft Office Suite.
High attention to detail and strong organizational skills.

Nice To Haves

Experience with Fiserv, Premier.
Familiarity with loss mitigation strategies, including Fannie Mae’s Workout Hierarchy, and Freddie Mac’s Evaluation Hierarchy.
Understanding of Servicing Guide updates, including cybersecurity and shared equity clarifications.
Experience with reporting tools such as Property 360 and Inquiry Response Tool for claims and servicing performance.

Responsibilities

Monitor and manage delinquent loan accounts, initiating appropriate collection actions in accordance with internal policies and regulatory guidelines.
Communicate with borrowers to resolve past-due accounts, negotiate payment arrangements, and provide guidance on available options.
Ensure all collection and loss mitigation activities comply with Fannie Mae and Freddie Mac requirements, including adherence to the Workout Hierarchy and Flex Modification eligibility timelines.
Evaluate borrower hardship and determine appropriate workout solutions, including reinstatement, repayment plans, forbearance, and liquidation options.
Solicit borrowers for Flex Modifications between days 90–105 of delinquency, as required by Fannie Mae’s Servicing Guide D2-3.2-06.
Maintain accurate and timely documentation of borrower communications, payment plans, and account status.
Collaborate with internal departments including Loan Servicing, Compliance, and Legal to escalate and resolve complex cases.
Prepare and submit required reports related to delinquency, loss mitigation, and investor compliance.
Support audits and examinations by providing documentation and responding to inquiries related to collections and compliance.
Assist in identifying process improvements to enhance efficiency and borrower experience.
Stay current on industry regulations, investor guidelines, and best practices in loan collections and servicing.