Mortgage Forward - Mortgage Collections Team Lead

Great Lakes Credit Union•Chicago, IL

6d•$26 - $48

About The Position

The Mortgage Collections Team Lead is responsible for the daily collection of more complex, past due accounts and is considered a Subject Matter Expert (SME) within the Collections Department. Possesses a strong understanding of all mortgage types and investors. Mitigates losses through calls, letters, skip tracing, credit analysis, determining debt collectability, and recommendations for loss mitigation options. This position is also responsible for coordinating with investors in managing the charge-off process, and post-charge off collection efforts to maximize recovery via placement with external agencies and attorneys. The Mortgage Collections Team Lead is driven to excellence, works with minimal supervision, and drives outstanding results. They will ensure that the needs of Mortgage Forward and its clients are met by providing high quality services to members, both internally and externally, while maintaining compliance with all state and federal laws pertaining to Mortgage Forward, and the Fair Debt Collection Act (FDCPA). This role possesses a strong knowledge of the Mortgage Forward and Investors’ Collections Policy, procedure and systems, inclusive of consumer bankruptcy, repossession and foreclosure. This position acts as a team resource and lead within the Collections Department and will possess the ability to work across all lines of the business to effectively service the relationship, as needed. The Mortgage Collections Team Lead will also be responsible for training, first level escalations, and oversight of the team.

Requirements

Minimum of three years of similar or related experience
A high school or GED diploma

Responsibilities

Ensure that during the collection activity, each borrower is treated with dignity, respect and receives quality member service.
Maintains follow-up on past due accounts, contacting the borrower(s) for prompt repayment of obligations or a mutually acceptable loss mitigation plan.
Make recommendations to the Vice President concerning the appropriate action on those accounts that cannot be contacted, or where a satisfactory arrangement cannot be made.
Complies with all Federal and State laws and regulations (including Fair Debt Collection Practices Act and laws regarding bankruptcies, repossessions and foreclosures), as well as Mortgage Forward and investor policies, procedures and internal controls.
Thoroughly develops and works all accounts for a minimum of two times per week.
Prepare appropriate collection letters on delinquent loans.
Manages the repossession of collateral from initial placement through sale and posting of sale proceeds.
Participates in project teams as necessary.
May appear in court proceedings when applicable, to serve as witness for Mortgage Forward.
Ensures that the Vice President, Servicing is informed of problematic situations in a timely manner.
Reviews and may authorize settlements on charged-off accounts within approved limits
Refers accounts and members to agencies and attorneys for additional post charge off recovery collections.
Negotiates repayment agreements with members in collection/legal cases.
Assists the Vice President with all departmental audits and internal controls as required.
Be the first line of escalation for collections related matters.
Thorough knowledge of all company and investor guidelines for all collections and loss mitigation efforts.
All other duties as assigned.