Second Lien Loan Advisor

2 weeks ago


Tempe, Arizona, United States NewRez LLC Full time
Company Overview:
NewRez LLC is recognized as one of the leading non-bank mortgage servicing firms in the United States. We provide essential services to businesses that hold mortgage loans, including banks and investment firms, by managing their loan portfolios effectively.

Position Summary:
The Second Lien Loan Consultant plays a crucial role in the initial recovery efforts on loan portfolios, focusing on maximizing recovery rates and determining the best workout strategies for delinquent loans.

Key Responsibilities:
  • Review and analyze loan information for delinquent second lien accounts.
  • Engage with borrowers to address delinquencies, establish payment plans, and evaluate modification requests.
  • Assess individual borrower situations to recommend suitable workout strategies.
  • Identify necessary legal actions when appropriate.
  • Increase communication frequency with borrowers based on their payment history.
  • Participate in initiatives aimed at preventing foreclosure through various loan modification strategies.
  • Coordinate with external service providers such as appraisers and inspectors.
  • Evaluate borrower income and financial documents to recommend viable solutions.
  • Ensure compliance with company policies during all communications and loss mitigation efforts.
  • Maintain accurate and comprehensive records of homeowner interactions and account activities.
  • Utilize both manual and automated calling methods to reach out to delinquent homeowners.
  • Stay informed about legal requirements and Fair Debt Collection Practices Act (FDCPA) guidelines.
  • Contribute to departmental success by understanding performance metrics.
  • Be available for overtime work as required.
  • Obtain necessary Mortgage Loan Originator (MLO) licensing.
  • Familiarize with various systems including Loss Mitigation System (LMS) and Delegated Authority (DA) Tool.
  • Handle multiple mortgage products, ensuring compliance with investor and legal guidelines.

Qualifications:
  • High school diploma or equivalent required; Bachelor's degree preferred.
  • 2-4 years of experience in collections and loss mitigation.
  • Strong understanding of loan terminology and processes.
  • Excellent verbal communication and negotiation skills.
  • Ability to quickly learn and adapt to new tasks.
  • Detail-oriented with a strong work ethic.

Company Benefits:
  • 15 Paid Time Off (PTO) days, increasing to 18 after the first anniversary.
  • 9 Paid Holidays.
  • Comprehensive medical, dental, and vision insurance.
  • 401(k) plan with company match.
  • Performance-based incentives and advancement opportunities.
  • Employee assistance programs and pet insurance.

Community Engagement:
NewRez LLC encourages employees to engage in community service through its Corporate Social Responsibility program, offering volunteer opportunities and matching gifts for charitable contributions. We are committed to diversity and inclusion, celebrating the unique backgrounds and perspectives of our employees.

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