Mortgage Servicing Specialist

CENTRAL BANCOMPANY, INC.•Jefferson City, MO

About The Position

The Mortgage Servicing Specialist handles delinquent mortgage accounts in accordance with company policy, applicable collection laws, and secondary-market guidelines. The role involves contacting borrowers, arranging repayment plans, maintaining accurate servicing-system records, and following up on collection activity. The specialist may request and review borrower financial statements, counsel borrowers with credit problems, or refer them to credit counseling organizations. The position also supports payment research and recovery, including investigating lost or misapplied payments, collecting funds due on insufficient-funds checks, reviewing unapplied payments and ACH returns, and completing general ledger entries when applicable. The specialist provides payment information to credit reporting agencies, uses credit bureau services and skip-tracing to locate borrowers, monitors delinquency levels, and prepares documentation for attorneys handling accounts referred for breach/right-to-cure letters. Other duties may be assigned.

Requirements

High school completion and some college coursework, including specific business and math courses, or equivalent knowledge, skill, and mental development.
Strong verbal communication skills and the ability to interact with customers and coworkers face-to-face and by telephone.
Ability to use tact and diplomacy and maintain a professional personal appearance when dealing with customers and coworkers.
Ability to initiate work with minimal supervision and exercise independent judgment when accepting repayment arrangements or taking further collection action.
Accuracy and attention to detail.
Good math and statistical aptitude.
Strong customer service and relations skills.
Ability to manage multiple tasks in a fast-paced environment and establish and meet deadlines.
Analytical, organizational, time-management, and problem-solving abilities.
Good typing, word-processing, and written communication skills, including proofreading and editing.
Ability to learn and understand computer systems used to evaluate and process transactions, including the use of reports relevant to job duties.
Ability to learn, understand, and apply regulatory and compliance requirements in day-to-day work and communicate that knowledge appropriately.
Ability to learn and understand statutes and procedures affecting collection or recovery of payments and debts, foreclosure of collateral, and bankruptcy statutes relating to mortgaged property.
Ability to locate borrowers who have abandoned property or stopped making mortgage loan payments.

Nice To Haves

One year of collections experience or mortgage lending, processing, or servicing experience.
Knowledge of mortgage debt collection procedures and policies.
Knowledge of secondary-market collection requirements.

Responsibilities

Maintain knowledge of collection policies, manuals, applicable Freddie Mac and Fannie Mae regulations and guidelines, collection laws, mortgage loan documents, and loan collateral security.
Retrieve delinquency reports and contact delinquent mortgage customers by telephone, letter, or face-to-face in accordance with company policy, fair credit collection laws, and secondary-market guidelines.
Work with customers to establish repayment arrangements to cure delinquencies.
Document contact dates, reasons for delinquency, actions requested, and customer promises in the servicing system, and follow up as needed.
Request and review borrower financial statements when needed to evaluate repayment or forbearance plans.
Counsel delinquent borrowers with credit problems and assist them in reducing indebtedness and repaying creditors, or refer them to an appropriate credit counseling organization.
Obtain and provide borrowers’ payment-record information to credit reporting agencies and use credit bureau services as needed to collect accounts.
Skip-trace customers using information from loan files and credit bureaus.
Maintain an acceptable level of delinquency percentages.
Research lost and misapplied payments, collect funds due from insufficient-funds checks, and complete general ledger entries when applicable.
Review unapplied reports to determine whether delinquent payments have been received.
Review and collect payments listed on the Return Resolution report for ACH returns, including returns for insufficient funds or closed accounts.
Prepare documentation for attorneys on delinquent mortgage accounts referred for breach/right-to-cure letters.
Perform other duties as assigned.