What are the responsibilities and job description for the Default Coordinator position at Primary Residential Mortgage?
Position Purpose - Responsibilities/Duties/Functions/Tasks
The purpose of the Default Coordinator position is to handle the processing of defaulted mortgage loans. A mortgage default may arise when a borrower fails to make monthly payments to their principal balance or interest on their home loan. The Default Coordinator will be responsible for communicating with the borrower any requirements and available options for resolution. Additional responsibilities include:
This position has no supervisory responsibilities
Preferences
In the performance of assigned tasks and duties all employees are expected to conform to the following:
Each employee must be able to communicate clearly and effectively, utilize a computer, maintain a work schedule, and effectively perform in an office setting. To maintain and ensure secure privacy of borrower (and other protected) information, an essential function of this job may require physical attendance in a defined office space. (i.e. branch or corporate office location). Employment with PRMI requires compliance with and adherence to all applicable mortgage and fair lending laws and regulations as well as PRMI policies. The ability to work extended hours may be required.
Nothing in this job description restricts management’s right to assign or reassign duties and responsibilities to this job at any time.
I acknowledge that I have read the Job Description and I understand what is expected of me for this position. PRMI reserves the right to change/reassign job duties or combine positions at any time. I also understand that I am at-will employee and that this job description does not constitute a contract of employment.
The purpose of the Default Coordinator position is to handle the processing of defaulted mortgage loans. A mortgage default may arise when a borrower fails to make monthly payments to their principal balance or interest on their home loan. The Default Coordinator will be responsible for communicating with the borrower any requirements and available options for resolution. Additional responsibilities include:
- Working with management and team members to discuss and resolve conditions and matters related to each default loan case; applying critical thinking abilities to ensure resolution
- Following Default Desktop procedures
- Reviewing and maintaining processes and deadlines in conjunction with the default procedures
- Supplying appropriate letters and notifications to the borrower
- Monitoring and responding timely to calls and emails
- Professional handling of inbound/outbound calls
- Providing decisions regarding exception payments
- Completing loan maintenance within appropriate system(s) surrounding default codes, loan indicators, default reasoning, etc.
- Maintaining and staying abreast of applicable knowledge of default procedures and investor guidelines
- Providing updates and sharing data as needed or requested
- Maintaining access to applicable resources (websites and platforms) necessary to complete tasks/assignments
- Strong organizational skills and attention to detail
- Excellent customer service abilities
- Critical thinking and appropriate application of resolution(s)
- Ability to continually update knowledge and awareness of regulatory changes while adapting the information into daily routines
- Strong communication, analytical, and problem-solving skills
- Ability to prioritize tasks and to delegate them when appropriate
- Ability to function well in a high-paced and at times stressful environment
This position has no supervisory responsibilities
Preferences
- Mortgage experience
- Extraordinary attention to detail
- Ability to work and to deliver content under tight deadlines
- Ability to work independently
- Knowledge of Microsoft Office applications (i.e. Word, Excel, Outlook, etc.)
In the performance of assigned tasks and duties all employees are expected to conform to the following:
- Review and adhere to policies and guidelines contained within the Employee Handbook, including privacy and information security guidelines.
- Act within delegated authorities and adheres to applicable policy and procedures associated with such authorities.
- Contribute to establishing a respectful workplace where diversity is critical to innovation and growth.
- Ensure every action and decision is aligned with PRMI values.
- Partner with your management team to understand performance expectations and measurements. Effectively utilize feedback and coaching opportunities while seeking to learn and develop within your role at PRMI.
- Realize team synergies through networking and partnerships across PRMI.
- Embrace change; act as advocate and role model, promoting an approach of continuous improvement.
- Maintain a high standard of customer care while actively listening to customers in an effort to understand their views and needs. Take ownership of problems and issues, taking into consideration the breadth of PRMI competencies in providing solutions.
- Work independently while understanding the necessity for communicating and coordinating work efforts with other employees and organizations.
- Work effectively as a team contributor on all assignments.
- Perform quality work within deadlines.
- Respect client and employee privacy.
Each employee must be able to communicate clearly and effectively, utilize a computer, maintain a work schedule, and effectively perform in an office setting. To maintain and ensure secure privacy of borrower (and other protected) information, an essential function of this job may require physical attendance in a defined office space. (i.e. branch or corporate office location). Employment with PRMI requires compliance with and adherence to all applicable mortgage and fair lending laws and regulations as well as PRMI policies. The ability to work extended hours may be required.
Nothing in this job description restricts management’s right to assign or reassign duties and responsibilities to this job at any time.
I acknowledge that I have read the Job Description and I understand what is expected of me for this position. PRMI reserves the right to change/reassign job duties or combine positions at any time. I also understand that I am at-will employee and that this job description does not constitute a contract of employment.
