Mortgage Servicing Specialist

Central Bancompany•Jefferson City, MO

About The Position

The Mortgage Servicing Specialist manages delinquent mortgage accounts in accordance with company policies, Fair Credit Collection laws, and secondary-market guidelines. The role involves contacting customers, establishing repayment arrangements, maintaining complete servicing-system records, following up on commitments, and evaluating repayment or forbearance options. The specialist may counsel borrowers with credit problems or refer them to an appropriate credit counseling organization, and may obtain or provide borrower payment information to credit reporting agencies and use credit bureau services to support collections. The position also includes skip-tracing borrowers, maintaining acceptable delinquency levels, researching lost or misapplied payments, collecting funds due from insufficient-funds checks, completing applicable general-ledger entries, reviewing unapplied-payment and ACH-return reports, and preparing documentation for attorneys concerning delinquent loans referred for breach or right-to-cure letters. The specialist is expected to learn and apply relevant mortgage, collection, regulatory, compliance, foreclosure, and bankruptcy procedures. Other duties may be assigned.

Requirements

High school completion and some college coursework, including specific business and mathematics courses, or equivalent knowledge, skill, and mental development.
Strong verbal communication skills and ability to interact with customers and coworkers in person and by telephone.
Ability to use tact, diplomacy, and 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 mathematics and statistical aptitude.
Strong customer service and relationship skills.
Ability to manage multiple tasks in a fast-paced environment and establish and meet deadlines.
Analytical, organizational, time-management, and problem-solving abilities.
Typing, word-processing, and written communication skills, along with proofreading and editing skills.
Ability to learn and understand computer systems used to evaluate and process transactions, including reports relevant to the role.
Ability to learn, understand, apply, and appropriately communicate regulatory and compliance requirements related to the area of responsibility.
Ability to learn and understand statutes and procedures affecting collection or recovery of payments and debts, foreclosure of collateral, and bankruptcy involving mortgaged property.
Ability to locate borrowers who have abandoned property or stopped making mortgage 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, Freddie Mac and Fannie Mae regulations and guidelines, collection-related legal requirements, mortgage loan documents, and loan collateral security.
Retrieve delinquency reports and make initial contact with 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, requested actions, and customer promises in the servicing system; 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 help them reduce indebtedness and repay creditors, or refer them to an appropriate credit counseling organization.
Obtain and provide borrower 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 and collect funds due from insufficient-funds checks.
Complete general-ledger entries when applicable.
Review unapplied reports to identify receipt of delinquent payments.
Review and collect payments listed on the Return Resolution report for ACH returns, including returns due to insufficient funds or closed accounts.
Prepare documentation for attorneys on delinquent mortgage accounts referred for breach or right-to-cure letters.
Learn and apply applicable regulatory, compliance, collection, debt-recovery, foreclosure, and bankruptcy requirements.
Perform other duties as assigned.