Senior Collections Associate (Residential - Hybrid)

Direct Federal Credit Union•Needham, MA

1d•$27 - $30•Hybrid

About The Position

Our Mission: Deliver great rates to save our members money, easy access to save our members time, and remarkable service to preserve our members peace of mind. Our Vision: To be the lifelong trusted partner of more and more members as they pursue their dreams. Our Collections Purpose: To have every interaction contribute to stronger relationships, instilled trust, financial empowerment, and solved problems. To achieve our purpose we want to hire: A strong communicator – someone who can talk with members by phone, writing and in person to negotiate payments A stickler for detail – prepare accounts for legal actions A juggler – Someone who can handle multiple tasks in a fast paced environment Sharp eyes – to monitor delinquent insurance processes Cool as a cucumber – Someone who is ready to tackle things as they come calmly and resiliently What You’ll Do Place outbound calls to customers with delinquent accounts; determine reason for payment delinquency and obtain payment commitment for full amount due. Ensure all appropriate system coding is followed in accordance with the appropriate product collection procedures. Manage assigned loan queues at all stages of delinquency through to payoff, foreclosure, short sale, deed in lieu or charge off in accordance with state and federal regulations and collections procedures. Familiarity with Freddie Mac guidelines is helpful but not necessary. Assign charged off accounts to outside counsel, answer inquiries of counsel; ensure monies collected are applied correctly. Monitor direct pay accounts monthly. Complete ACH payment requests, monitor and correct errors as necessary. Assist Collections Manager with preparing the necessary forms and documents for foreclosure assignment to counsel when needed. Shows a willingness to accept added duties and responsibilities as required from time to time by management. Demonstrate and promote high ethical standards and behaviors. Keeps abreast of all investor guidelines and regulatory changes and applies as applicable. This includes but not limited to CFPB/RESPA, Mass. General Law, FCRA and FDCPA. Provide professional and courteous interaction with internal and external customers.

Requirements

College degree preferred
Minimum five years' consumer collections experience
Comprehensive knowledge of Fair Debt Collection Practice Act (FDCPA), Fair Credit Reporting Act (FCRA), Members Civil Relief Act (SCRA) and Massachusetts General Laws (MGL)
Comprehensive knowledge of Freddie Mac non-performing loan servicing requirements
Comprehensive knowledge of foreclosure laws
Comprehensive knowledge of bankruptcy laws

Nice To Haves

Familiarity with Freddie Mac guidelines is helpful but not necessary.

Responsibilities

Place outbound calls to customers with delinquent accounts; determine reason for payment delinquency and obtain payment commitment for full amount due. Ensure all appropriate system coding is followed in accordance with the appropriate product collection procedures.
Manage assigned loan queues at all stages of delinquency through to payoff, foreclosure, short sale, deed in lieu or charge off in accordance with state and federal regulations and collections procedures.
Assign charged off accounts to outside counsel, answer inquiries of counsel; ensure monies collected are applied correctly. Monitor direct pay accounts monthly.
Complete ACH payment requests, monitor and correct errors as necessary.
Assist Collections Manager with preparing the necessary forms and documents for foreclosure assignment to counsel when needed.
Shows a willingness to accept added duties and responsibilities as required from time to time by management.
Demonstrate and promote high ethical standards and behaviors.
Keeps abreast of all investor guidelines and regulatory changes and applies as applicable. This includes but not limited to CFPB/RESPA, Mass. General Law, FCRA and FDCPA.
Provide professional and courteous interaction with internal and external customers.