What are the responsibilities and job description for the Mortgage Default/Bankruptcy Specialist position at ProFed Credit Union?
Position Summary
Primarily responsible for contacting delinquent mortgage loan accounts, whether they are held in our portfolio or have been sold to the secondary market. The position requires adherence to each investor’s servicing guidelines to provide effective loss mitigation solutions for these accounts and to report delinquencies accurately and promptly. Additional duties include collecting on delinquent loans, Visa accounts, and negative balance accounts to support the Account Management Team.
Qualifications
Requires an organized, highly motivated, and detail-oriented individual with knowledge of credit union and/or mortgage operations. Must possess the ability to follow detailed directions and be able to navigate investor and insurance portals. Must display sound judgment and have good written and oral communication skills. Excel and Word skills are required. Lending and collection knowledge is a plus. Prior Mortgage Servicing experience preferred. Must be able to represent the credit union in a professional manner and work with minimum supervision. Ability to prepare and complete delinquency documentation, perform mathematical computation, and meet required reporting deadlines is required.
Physical Requirements
Clear and effective communication abilities are required. Must be able to view a terminal screen and operate a computer keyboard. Must be able to sit and stand for prolonged periods.
Essential Duties And Responsibilities
Primarily responsible for contacting delinquent mortgage loan accounts, whether they are held in our portfolio or have been sold to the secondary market. The position requires adherence to each investor’s servicing guidelines to provide effective loss mitigation solutions for these accounts and to report delinquencies accurately and promptly. Additional duties include collecting on delinquent loans, Visa accounts, and negative balance accounts to support the Account Management Team.
Qualifications
Requires an organized, highly motivated, and detail-oriented individual with knowledge of credit union and/or mortgage operations. Must possess the ability to follow detailed directions and be able to navigate investor and insurance portals. Must display sound judgment and have good written and oral communication skills. Excel and Word skills are required. Lending and collection knowledge is a plus. Prior Mortgage Servicing experience preferred. Must be able to represent the credit union in a professional manner and work with minimum supervision. Ability to prepare and complete delinquency documentation, perform mathematical computation, and meet required reporting deadlines is required.
Physical Requirements
Clear and effective communication abilities are required. Must be able to view a terminal screen and operate a computer keyboard. Must be able to sit and stand for prolonged periods.
Essential Duties And Responsibilities
- Primary contact for homeowners with mortgage loan repayment issues and/or financial hardships
- Ensure adherence to compliance rules and regulations set forth by the Consumer Financial Protection Bureau and the NCUA
- Send required solicitation letters to delinquent mortgage loan accounts as required
- Provide loss mitigation options to members who are in default
- Prepare mortgage loan accounts that are in bankruptcy or foreclosure for the appropriate collection attorney
- Maintain documentation on all invoices paid and submit servicer expense reimbursements to investors
- Report timely mortgage loan delinquency information in accordance with each investor’s servicing guidelines and to each private mortgage insurance (PMI) provider
- Collection of delinquent loans, Visa accounts, and negative balance accounts
- Consistently expand knowledge and understanding of credit union products and services
- Must provide exceptional member service while demonstrating empathy and effective solutions
- All other duties as assigned