Senior Residential Collections Specialist

Five Star Bank•Rochester, NY

5d•$24 - $30•Onsite

About The Position

The Residential Collection Adjuster 2 is responsible for managing advanced stages of delinquency to acceptable levels in accordance with established Department goals and objectives. Must strictly adhere to all Bank policies and procedures in addition to all State, Federal, CFPB Servicing Guidelines and Investor mandates and requirements. This position will work with borrowers in providing financial counseling and will implement structured repayment plans, loss mitigation options, modifications, short sales and foreclosure processing.

Requirements

High School Diploma or equivalent
5+ years of Collection, Banking, Credit Union, Mortgage Processing, Mortgage Lending Company, Law Firm, Collection Agency, Investor Group experience
Strong verbal and written communication skills
Demonstrated customer service and delinquency resolution skills
Basic knowledge of the collection function to include familiarity with internet-based search techniques for skip tracing, property values, Investor guidelines
Working knowledge of Microsoft Office, Windows operating system, and Excel applications with the ability to learn new and existing Banking software
Excellent keyboarding skills
Analytical ability to interpret data and to make sound decisions and logical recommendations
Excellent negotiation skills with the ability to overcome objections
Strong organizational skills
Ability to work in a fast-paced, high volume environment with specific measurement performance goals
Follow through, accountability, integrity, empathy, accuracy, attention to detail and problem solving skills

Responsibilities

Contact delinquent borrowers to arrange for timely repayment via telephone, letters, and approved e-mails. Meet established goals for borrower contact via telephone and initiate outbound calls to determine the reason for default.
Ensure right party contact and fully, clearly, and concisely document all work efforts and collection activity.
Ensure that all letters and all regulatory notifications are forwarded in a timely manner to all borrowers.
Obtain updated borrower information and verify information with each interaction.
Utilize standard collection practices such as skip tracing tools and techniques, approved social media outlets, and approved references and third parties to locate borrowers.
Fully, clearly, and concisely document all borrower interactions and conversations, and fully disclose all collection activity.
Ensure strict adherence to regulations governing collection activity such as FDCPA, SCRA, Privacy, Fair Lending, and CFPB Servicing guidelines to avoid sanctions, fines, and penalties.
Demonstrate expert knowledge and adherence to Investor due diligence and servicing guidelines and requirements for Early Intervention, Avoiding Foreclosure, Loss Mitigation, Modifications, and Property Inspections.
Participate in and attend Investor webinars and training sessions, and know the location of on-line access to Investor Servicing guidelines.
Prepare and submit monthly Investor reports and prepare and update all department LTV monthly reports.
Respond promptly to inbound calls and efficiently handle a variety of borrower inquiries via phone calls and written correspondence.
Educate borrowers on the resolution process, complete a financial analysis to determine borrower(s) ability to repay, and provide assistance and alternatives.
Fully describe and detail eligibility for relief options and communicate external loss mitigation options including agencies, charities, and Investor programs.
Forward forbearance, deferment, and modification agreements and packages, and follow up to request additional information and the receipt of all documentation.
Monitor all workout processes through completion and coordinate requests for Short Sales and Deed in Lieu of Foreclosure.
Define problems, collect data, establish facts, and promptly research and respond to borrower inquiries and resolve payment posting issues.
Provide loan history information and explanations, and work closely with peers across the Bank to provide the best possible borrower experience.
Research and resolve all delinquent tax notifications, work closely with towns, counties, and other municipalities to avoid losing the Bank’s and Investor’s interest in real property.
Negotiate with borrowers for delinquent tax repayment, analyze borrower ability to remit payment, and when not possible, obtain appraisals, seek approval for Bank to remit payment, work with Loan Servicing to charge the loan, re-amortize payments, and create an escrow account going forward.
Monitor the loan and upon default, refer for foreclosure.
Resolution of delinquency, NSF items, and returned electronic payments to reduce delinquency and avoid losses.
Offer payment alternatives for the timely receipt of contractual payments: ACH processing, AFT processing, Bank Offsets, Electronic one-time payment processing, and Digital Banking.
Proactively refer all potential loss situations to management such as vacant properties, deceased borrowers, Successor in Interest, bankruptcies, property code violations, mold remediation, trash, lawn care, and snow removal situations.
Recommend foreclosure action and forward Demand requests to Legal teams.
Recommend and prepare sale Bid Sheets and Court Settlement Options.
Demonstrate the standards and principles of the Five Star Bank experience in every interaction with internal and external customers, associates, and stakeholders.
Incorporate the high-performance behaviors of teamwork, leading by example, and service in every facet of work.

Benefits

Medical, Dental, and Vision Insurance
Health Savings Account
Flexible Spending Account(s)
Company Paid Life Insurance, Long Term Disability, and Short Term Disability
Voluntary Offerings: Life, Critical Illness/Specified Disease, Accident, Hospital Indemnity & Personal Accident
Tuition Reimbursement
Employee Referral Program
Wellness Reimbursement Program
Star Volunteer Program
Employee Banking and Financial Perks
Paid Time Off (PTO)
Company Paid Holidays