Mortgage Loss Mitigation Specialist

Cathay Bank • El Monte, CA

4d

About The Position

Responsible for the collection of all residential mortgages, Home Equity Lines, and consumer loans. In compliance with FDCPA, will attempt to contact borrowers when a mortgage payment is missed to determine the reason for the delinquency and to assist the borrower with making payments or discuss the options available to bring the account current, such as forbearance agreements, or other loss mitigation programs available. They will also handle the ordering and reviewing of delinquency inspections and preservation actions, in compliance with investor guidelines and federal/local law. The Collections/Claims Specialist will also handle the submissions, tracking and reconciling of claims to investors or MI companies, on behalf of the investors.

Requirements

• High school diploma or equivalent.
• Strong organizing and problem-solving skills
• good written and verbal communication skills
• must be able to adapt well in a fast paced and constantly changing business environment
• PC proficient
• demonstrated ability to work in a team-oriented environment and provide good customer service.

Nice To Haves

• Bilingual is a plus.

Responsibilities

• Manage inbound, outbound, and follow up calls related to Mortgage Loss Mitigation and collection efforts to ensure quick and effective solutions are provided to each borrower.
• Follow the Fair Debt Collections Practices Act (FDCPA) and comply with Cathay Bank’s policies and procedures related to mortgage delinquencies, defaults, and collection.
• Ensure effective collection of an assigned group of delinquent loans to minimize losses to the Bank, including escalated or large payment delinquencies.
• Contact delinquent customers for repayment and accurately document customer account information.
• Promptly provide information about the availability of loss mitigation options to borrowers who express adverse changes in their financial circumstances that is likely to cause them to experience a long-term delinquency for which loss mitigation options may be available.
• Monitor and manage mortgage delinquent report activities.
• Recording details of comments, inquiries, complaints, and actions taken.
• Provide excellent customer service by researching payment delinquency related questions with Loan Servicing Department in a timely manner.
• Perform general clerical duties as needed.

Benefits

• coverage for medical insurance
• dental insurance
• vision insurance
• life insurance
• long-term disability insurance
• flexible spending accounts (FSAs)
• health saving account (HSA) with company contributions
• voluntary coverages
• 401(k)

What This Job Offers

• Job Type: Full-time
• Career Level: Mid Level
• Education Level: High school or GED