Collections Specialist

4 weeks ago


Hollywood, United States A&D Mortgage LLC Full time

The Collections Specialist & REO Agent is responsible for managing delinquent mortgage accounts, pursuing loss mitigation options, and coordinating the sale of real estate-owned (REO) properties on behalf of the mortgage lender/servicing department. This role requires a combination of collections expertise, real estate knowledge, and strong communication skills.

Responsibilities:

Collections:

  • Contact delinquent borrowers to collect past due payments and negotiate payment arrangements.
  • Evaluate borrowers' financial situations and determine appropriate loss mitigation options, such as loan modifications, forbearance agreements, or short sales.
  • Prepare and submit loss mitigation documentation for investor approval.
  • Monitor and manage delinquent accounts through the foreclosure process, if necessary.
  • Maintain accurate and detailed records of all collection activities.

REO Management:

  • Oversee the REO process, from property preservation to final disposition.
  • Coordinate property inspections, repairs, and maintenance.
  • Select and manage real estate agents for REO property listings.
  • Review and negotiate offers on REO properties.
  • Coordinate closings and ensure timely transfer of title.
  • Manage property taxes, insurance, and other expenses related to REO properties.

Additional Responsibilities:

  • Stay up-to-date on industry regulations and best practices.
  • Provide excellent customer service to borrowers and internal stakeholders.
  • Collaborate with other departments, such as loan servicing, underwriting, and legal, to ensure smooth and efficient processes.
  • Prepare and submit regular reports on collection and REO activities.

Qualifications:

  • Bachelor's degree in finance, real estate, or related field preferred (but not required with relevant experience).
  • 2+ years of experience in mortgage collections and/or REO management.
  • Strong knowledge of foreclosure laws and regulations (or willingness to do thorough research)
  • Excellent communication and negotiation skills.
  • Ability to work independently and as part of a team.
  • Proficiency in Microsoft Office Suite (must) and mortgage servicing software (a plus).

Skills:

  • Analytical and problem-solving skills.
  • Attention to detail.
  • Ability to prioritize and manage multiple tasks simultaneously.
  • Strong interpersonal and customer service skills.
  • Excellent written and verbal communication skills.
  • Proficiency in Microsoft Office Suite.

Please note that this job description is a general guideline and may be tailored to the specific needs and requirements of the hiring company.


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