Loss Mitigation Coordinator

Fifth Third Bank•Cincinnati, OH

1d•Onsite

About The Position

Make banking a Fifth Third better® We connect great people to great opportunities. Are you ready to take the next step? Discover a career in banking at Fifth Third Bank. GENERAL FUNCTION: Under moderate supervision, works with Field Advisors, Counselors, borrowers, mortgage brokers, real estate agents, title companies, attorneys, investors, insurers, etc. to obtain required information/documentation to resolve delinquency. Works to minimize potential losses on delinquent loans by contact with the Field Advisors and/or Counselors, borrowers &/or their agents to work toward resolution of the delinquency in accordance with departmental, legal and investor guidelines, while ensuring company goals. Responsible and accountable for risk by openly exchanging ideas and opinions, elevating concerns, and personally following policies and procedures as defined. Accountable for always doing the right thing for customers and colleagues, and ensures that actions and behaviors drive a positive customer experience. While operating within the Bank’s risk appetite, achieves results by consistently identifying, assessing, managing, monitoring, and reporting risks of all types.

Requirements

High school diploma or equivalent.
Strong oral and written communication skills.
Sales focus and ability to effectively negotiate.
Attention to detail.
Knowledge of basic mortgage default timelines / procedures (bankruptcy / escrow/ foreclosure).
Knowledge of bank owned, investor & insurer guidelines.
Excellent customer service skills with both external and internal customers.
Knowledge and adherence to FDCPA / Privacy Act / state laws as well as other bank policies in regards to collection guidelines.
Strong computer aptitude.
Must be able to work in a team environment to interact well with employees and all levels of the organizations.

Nice To Haves

Two years collections experience in a call center environment preferred.
Fluent in Spanish preferred.

Responsibilities

Receives inbound calls from Field Advisors and/or Counselors calling with bank customers to identify reason for default, discuss potential workout alternatives, explain all workout options according to investor guidelines, and to obtain hardship applications for assistance.
Evaluates customer situations without judgment to understand financial constraints and determine the best workout option available for all parties involved.
Makes outbound to Field Advisors and/or Counselors, customers, and/or authorized third parties to obtain required documentation.
Reviews Loss Mitigation packets to ensure documentation is accurate and complete per investor requirements.
Requests missing documentation via phone call mail.
Through in- and outbound calls, provides status updates to Field Advisors/Counselors, customers, and/or authorized third parties regarding the status of their file.
Processes hardship applications following department procedures.
Completes filing and audit checks of completed Loss Mitigation files.
Maintains detailed notes of all contacts in system.
Researches accounts when a problem arises, and if necessary, escalates calls and/or problem accounts to supervisor, manager, appropriate department as necessary.
Orders Reinstatement Letters.
Offers and processes ACH payments for customer.
Orders payment history for customer.
Investigates misapplied payments.
Processes Cease and Desist requests or cancellations.
Maintains thorough call logs.
Provides support by cross-training as directed by supervisor or manager, as necessary.