2nd Lien Collections Specialist (On-Site)

The 2nd Lien Loan Consultant is responsible for initial collections on portfolios to maximize recovery and disposition loans to the appropriate work out strategy.

Essential Functions, Duties, and Responsibilities

• Receive and review loan information on 1 to 180+ delinquent 2nd lien accounts.
• Contact borrowers to cure delinquency, set up payment arrangements, review borrower’s response packages for modifications, repayment plans or settle accounts.
• Identify and recommend optimal workout strategies based on individual borrower circumstances.
• Identify and recommend legal strategies, as necessary.
• Increase frequency of borrower contact based on days since last payment.
• Performs additional projects and duties as assigned by management.
• Engage in efforts to prevent foreclosure through loan modification, repayment plans and deferments.
• Arrange for contractual services relating to property inspectors’ appraisers, real estate agents, who may be involved in the inspection or evaluation of the property.
• Analyze and underwrite the borrower’s income through review of documents which include, but are not limited to, financial statements, tax returns, credit reports and collateral appraisals to determine and recommend the most feasible and appropriate solution for the homeowner.
• Use the delegated authority tool and work with client matrices regarding workout strategies.
• Ensure all calls and loss mitigation efforts are compliant with company policies and procedures.
• Address any homeowner question or concern. Handle escalated files appropriately by providing an articulate and complete response.
• Keeps servicing files up to date with the necessary document and correspondence needed to ensure a comprehensive record of the homeowners account activity is maintained and communicated.
• Use manual and dialer strategies to contact delinquent homeowners.
• Understanding legal requirements and Fair Debt Collection Practices Act (FDCPA) guidelines on manual dialer reports.
• Must be able to communicate effectively through verbal and written means.
• Contribute to the progress of the department by understanding and positively impacting the measurements used to define success.
• Willing to work overtime as needed.
• Obtain Mortgage Loan Originator (MLO) license.
• Knowledgeable in different systems, Loss Mitigation System (LMS) and Delegated Authority (DA) Tool.
• Review and maintain their personal negotiating worklist.
• Contact homeowners to cure delinquency, this can be a blend of manual and automated calling strategies.
• Handle multiple mortgage products such as Home Equity Line of Credit (HELOC) junior liens, conventional loans, Adjustable-Rate Mortgage (ARM) loans etc. that are current to 180 days delinquent as governed by investor, departmental and legal guidelines.
• Performs related duties as assigned by management.

Qualifications and Education Requirements

• High school diploma or equivalent, required.
• Bachelor’s degree, preferred.
• 2-4 years’ experience within collections and loss mitigation.

Skills, Abilities, and Knowledge

• Familiarity with tracking databases and the maneuvering around the Internet.
• Familiarity with loan terminology, rights, and processes.
• Excellent work ethic, high productivity, and acute attention to detail.
• Short learning curve to assimilate new skills and tasks.
• Superior verbal communication and negotiation skills.

Work Environment and Physical Requirements

• Working on-site at assigned office location.
• Regular and punctual attendance adhering to schedule established by leadership.
• Flexibility to work occasional adjusted work schedules, overtime, and evening and/or weekend hours to meet deadlines or as business needs demand.
• Working in a cubicle hub, maintaining focus on phone calls in a noisy environment within earshot of multiple other conversations.
• Sedentary work in a stationary position at a cubicle for prolonged periods of time.
• Constant repetitive motions required for operating a computer, such as typing and managing phone calls.
• Constantly communicating effectively verbally in English, including accurately exchanging information with others following identification of correct procedures.