What are the responsibilities and job description for the Collections Associate position at First Mutual Holding Co.?
Description:
Makes collection counseling calls for delinquent mortgage and consumer loan customers to determine the reason for the delinquency; determines when the borrower is going to make their payment and if further loss mitigation assistance will be needed; sets payment expectations and educates borrower on foreclosure prevention alternatives, obtains a commitment from the borrower to either bring the loan current or engage in foreclosure prevention alternatives; sends out correspondence to obtain payments and/or financial information from delinquent borrowers. Utilizes core collection application to maintain accurate records of collection activity. Provides information to supervisors and the Loss Mitigation Specialist on a regular basis for accounts that need to be referred to them for further follow up. Performs advanced collection activities for delinquent loan accounts; inputs messages and proper coding into data base for loans that have deceased borrower, and/or any other legal status pertaining to the loan; tracks delinquent residential and consumer loan accounts; prepares advanced collection correspondence and call letters on accounts; assists in the preparation of reports for management including Asset Classification. Monitors loans maturing with a balloon payment or lines of credit transitioning to repayment; sends correspondence to customers and counsels them on options or refers them to a loan originator; ensures loans are properly coded in the core system to prevent draws beyond the draw period or maturity. Responds to document requests as part of subpoenas; gathers documents from origination and servicing files as needed and distributes to legal department or requesting attorney. Prepares and remits monthly default reporting to PMI companies. Reviews delinquent accounts that may require an inspection; prepares and submits monthly order for inspections to third party vendor; maintains accurate records of completed inspections. Complies with all applicable banking laws and regulations, including but not limited to the Bank Secrecy Act, USA Patriot Act and related anti-money laundering statutes and federal consumer protection legislation and regulations. Other duties as required.
Requirements:
1-2 years experience in mortgage and consumer collections is required along with a strong understanding of lending laws, regulations, and guidelines. Mortgage and consumer loan collection experience is preferred. Experience in finance services or banking is preferred. High School Diploma or equivalent is required; Bachelor’s degree is preferred. Proficiency in MS Office [Outlook, Excel, Word] or similar software is required. Encompass, Cleartouch, Nautilus, various government and investor software/web portals is preferred. Resilience Collaboration Communication Service Orientation Quality Focused Process Oriented Accountability
Position Summary:
The Collections Specialist provides counseling to borrowers on past due mortgage and consumer loan payments and performs advanced collection activities on delinquent accounts.
Duties and Responsibilities:
The duties outlined above are a summary and may not be an exhaustive or comprehensive list of all possible responsibilities, tasks, and duties. All job descriptions may be amended at any time at the sole discretion of FMHC.
We are an Equal Opportunity Employer. All qualified applicants will receive consideration for employment without regard to race, color, religion, sex, national origin, disability status, protected veteran status, or any other characteristic protected by law.
Requirements:
Skills and Qualifications:
Necessary competencies:
Physical Environment
- While performing the duties of this job, the employee is regularly required to lift, walk, stand, sit, bend, reach with hands and arms, climb, push/pull, use hands, and see, hear and speak.
- The employee must occasionally lift and/or move up to 25 pounds.
- The noise level in the work environment is usually quiet to moderate.
- This position is performed in an office setting, five days a week with typical work hours being 8.30a through 5.15p.