Mortgage Resolution Specialist

VyStar Credit Union•Jacksonville, FL

17d

About The Position

At VyStar, we offer competitive pay, an excellent benefit package that includes a 401(k) Plan, an extensive paid technical and on-the-job training program, and tuition reimbursement--available to all full and part time employees. Part time positions start at a minimum of 30 hours per week. We encourage you to become a part of VyStar Credit Union's family of employees. Mortgage Resolution Specialist ACCOUNTABILITY STATEMENT The mortgage loan collector contacts members to effectively reduce VyStar’s exposure to financial loses caused by delinquent mortgage loan accounts. Activities must be conducted in compliance with federal and state regulations to avoid possible harassment claims and litigation. In addition, the incumbent must be well versed in secondary market and private mortgage insurance guidelines with regard to mortgage loan collections and loss mitigation efforts. ESSENTIAL JOB FUNCTIONS Reviews delinquent mortgage loan accounts in the core collection system, which have been assigned to gain information to determine appropriate collection activity to effectively elicit monies due from members. Contacts members to discuss reason for delinquency and possible solutions to resolve delinquency. Obtains information to effect collection on account and make payment arrangements. Determines appropriate and timely follow-up contact with member. Skip traces unlocated members to establish contact. Locates member and recommends legal action, which may ultimately reduce loss to VyStar. Daily works the collection system queues to ensure each delinquent account has been followed for activity and account is accurately documented in the core collections systems. Initial contact with member, mortgage loan collector assesses the reason for the delinquency and proposes solutions to the member for consideration in resolving the delinquency. Notates core collection system. Provides member hardship request information and list of documentation required to provide management to consider note modification, payment deferment, payment plan, or other special arrangements to resolve the delinquency. Provides documentation to Sr. Mortgage Loss Mitigation Specialist, Mortgage Servicing Manager, and/or Vice President Mortgage Servicing. Converses with members to discuss account information or make loan payment arrangements. Accepts funds and enters information to voucher to post transactions on data processing system or process check by phone requests. Recommends financial counseling and/or budgeting services to member’s who are experiencing temporary financial challenges that are curtailing their ability to make the mortgage/equity payments in a timely manner. Updates delinquent accounts in Fannie Mae and PMI portals in compliance within insurer and investor guidelines. Works daily/weekly/monthly reports as assigned, prepares files for foreclosure referral. Manages the Vacant Property Registry for the Credit Union Cross-sells other credit union services. Consistently adheres to VyStar core values and Code of Ethics and acts in accordance with those values. Performs the activities and projects as assigned and requested by the Mortgage Loss Mitigation Supervisor, Mortgage Servicing Manager and Vice President Mortgage Servicing. Identify and make recommendations to Mortgage Loss Mitigation Supervisor, Mortgage Servicing Manager and/or Vice President Mortgage Servicing regarding process improvements, quality service and increased efficiencies along with on all normal filings, any abnormal filing trends, and volume and filing demographics on a monthly basis. All employees and business units, as first line of defense, are expected to proactively help identify, assess, manage, and report risks within their domain of work. To enhance a healthy risk culture and support our growth for good pillar, employees will maintain vigilance in safeguarding our operations while ensuring compliance with regulatory mandates. The Risk team serves as the second line of defense by providing risk oversight and credible challenge whereas the Audit team serves as the third line of defense by providing risk assurance. Incumbent is expected to demonstrate each of the following VyStar Excellence behaviors and to provide support and feedback to employees assigned to the closing unit to consistently practice and demonstrate VyStar Excellence behaviors in performing the duties and responsibilities of their position. Expected VyStar behaviors are defined as: Focus Focus your full attention by carefully listening to and observing your client or member. Connect Consistently be friendly and approachable demonstrate you care. Understand Listen empathetically and ask questions (70%/30%) Counsel Recommend solutions based on your client’s or member’s needs and objectives. Advance Ensure that member’s expectations are exceeded. Verify follow-up action.

Requirements

A minimum of two years’ experience in mortgage loan collections with a financial institution or mortgage loan company is required.
Knowledge of Fair Dept Collections Practice Act (FDCPA), Federal Bankruptcy Laws, Fair Credit Reporting (FCRA), state laws governing repossession and liquidation of residential real estate and secondary market requirements for servicing derogatory loans.
Equipment to be used in the daily performance of job duties include HP calculator, PC, and multi-function equipment (fax, scanner, and copier) is required.
Knowledge of all Microsoft Office applications and credit union software and/or core operating systems pertinent to completing various tasks and responsibilities of the position is required.
The minimum formal education required is completion of high school.
Knowledge of Fair Dept Collections Practice Act (FDCPA), Federal Bankruptcy Laws, Fair Credit Reporting (FCRA), state laws governing repossession and liquidation of residential real estate and secondary market requirements for servicing derogatory loans.
Applicant must have positive, well-developed communication skills, both written and oral, be detail oriented, have good organizational and active listening skills, the ability to work in a fast-paced environment, and proven ability to work with others.
Must have professional conduct and appearance and be self-motivated.
Must work under the philosophy of “people helping people” and be able to communicate with members and legal counsel at all levels.
Applicants must demonstrate the qualities of a self-starter and one who follows through on all job duties.
Equipment to be used in the daily performance of job duties include HP calculator, PC, and multi-function equipment (fax, scanner, and copier) is required.
Knowledge of all Microsoft Office applications and credit union software and/or core operating systems pertinent to completing various tasks and responsibilities of the position is required.

Nice To Haves

Previous loss mitigation related experience is a plus
Specialized classes in bankruptcy, foreclosure, and mortgage collections and loss mitigation will be required.
Continuing education via local conferences and workshops is required for updates on federal and state regulations.

Responsibilities

Reviews delinquent mortgage loan accounts in the core collection system, which have been assigned to gain information to determine appropriate collection activity to effectively elicit monies due from members.
Contacts members to discuss reason for delinquency and possible solutions to resolve delinquency.
Obtains information to effect collection on account and make payment arrangements.
Determines appropriate and timely follow-up contact with member.
Skip traces unlocated members to establish contact.
Locates member and recommends legal action, which may ultimately reduce loss to VyStar.
Daily works the collection system queues to ensure each delinquent account has been followed for activity and account is accurately documented in the core collections systems.
Initial contact with member, mortgage loan collector assesses the reason for the delinquency and proposes solutions to the member for consideration in resolving the delinquency.
Notates core collection system.
Provides member hardship request information and list of documentation required to provide management to consider note modification, payment deferment, payment plan, or other special arrangements to resolve the delinquency.
Provides documentation to Sr. Mortgage Loss Mitigation Specialist, Mortgage Servicing Manager, and/or Vice President Mortgage Servicing.
Converses with members to discuss account information or make loan payment arrangements.
Accepts funds and enters information to voucher to post transactions on data processing system or process check by phone requests.
Recommends financial counseling and/or budgeting services to member’s who are experiencing temporary financial challenges that are curtailing their ability to make the mortgage/equity payments in a timely manner.
Updates delinquent accounts in Fannie Mae and PMI portals in compliance within insurer and investor guidelines.
Works daily/weekly/monthly reports as assigned, prepares files for foreclosure referral.
Manages the Vacant Property Registry for the Credit Union
Cross-sells other credit union services.
Consistently adheres to VyStar core values and Code of Ethics and acts in accordance with those values.
Performs the activities and projects as assigned and requested by the Mortgage Loss Mitigation Supervisor, Mortgage Servicing Manager and Vice President Mortgage Servicing.
Identify and make recommendations to Mortgage Loss Mitigation Supervisor, Mortgage Servicing Manager and/or Vice President Mortgage Servicing regarding process improvements, quality service and increased efficiencies along with on all normal filings, any abnormal filing trends, and volume and filing demographics on a monthly basis.
All employees and business units, as first line of defense, are expected to proactively help identify, assess, manage, and report risks within their domain of work.
To enhance a healthy risk culture and support our growth for good pillar, employees will maintain vigilance in safeguarding our operations while ensuring compliance with regulatory mandates.
The Risk team serves as the second line of defense by providing risk oversight and credible challenge whereas the Audit team serves as the third line of defense by providing risk assurance.
Incumbent is expected to demonstrate each of the following VyStar Excellence behaviors and to provide support and feedback to employees assigned to the closing unit to consistently practice and demonstrate VyStar Excellence behaviors in performing the duties and responsibilities of their position.
Expected VyStar behaviors are defined as: Focus Focus your full attention by carefully listening to and observing your client or member. Connect Consistently be friendly and approachable demonstrate you care. Understand Listen empathetically and ask questions (70%/30%) Counsel Recommend solutions based on your client’s or member’s needs and objectives. Advance Ensure that member’s expectations are exceeded. Verify follow-up action.