Loan Servicing Collections & Loss Mitigation Specialist

Partnership

Boomband is working directly with Leader Bank to connect them with people who are a strong fit for this role.

Role Overview

Title

Loan Servicing & Collections Specialist (Collections, Loss Mitigation, Financial Services)

Job Overview

Leader Bank, one of Massachusettss most successful and rapidly growing community banks, is seeking a detail-oriented and client-focused Loan Servicing Collections Specialist. This role supports loan servicing operations with a primary focus on collections and loss mitigation, ensuring regulatory compliance and a positive client experience.

Why This Role Stands Out

• Work for Leader Bank, one of the regions fastest-growing community banks with $4 billion in assets.
• Play a critical role in maintaining regulatory compliance, particularly with Fannie Mae and Freddie Mac guidelines.
• Take ownership of evaluating and executing diverse loss mitigation strategies to support borrowers.
• Contribute to enhancing client experience by constantly improving products and processes.

Who This Role Is For

• A detail-oriented and client-focused professional with a proactive and organized approach.
• An individual skilled in managing delinquent accounts while upholding compliance and professionalism.
• Someone with strong knowledge of loan servicing practices and regulatory compliance.
• A candidate committed to delivering a positive client experience through effective communication and negotiation.
• A seasoned professional with 10+ years of collections experience, preferably within a financial institution.

What Youll Do

• Monitor and manage delinquent loan accounts, initiating appropriate collection actions.
• Communicate with borrowers to resolve past-due accounts and negotiate payment arrangements.
• Ensure all collection and loss mitigation activities comply with Fannie Mae and Freddie Mac requirements.
• Evaluate borrower hardship and determine appropriate workout solutions.
• Solicit borrowers for Flex Modifications between days 90-105 of delinquency.
• Maintain accurate and timely documentation of borrower communications and account status.
• Collaborate with internal departments to escalate and resolve complex cases.
• Prepare and submit required reports related to delinquency and loss mitigation.

What Were Looking For

• 10+ years of experience in collections, preferably in a financial institution.
• Working knowledge of Fannie Mae and Freddie Mac loan servicing and loss mitigation requirements.
• Strong communication and negotiation skills with a client-centric approach.
• Ability to manage multiple priorities and meet deadlines in a fast-paced environment.
• Proficiency in loan servicing systems and Microsoft Office Suite.
• High attention to detail and strong organizational skills.
• Experience with Fiserv, Premier loan servicing systems.
• Familiarity with Fannie Maes Workout Hierarchy and Freddie Macs Evaluation Hierarchy.

Compensation

Compensation: $22 – $34 hour.

About Boomband

Boomband is a new kind of talent platform focused on real job fit, not keyword matching. We partner directly with companies to connect you to opportunities aligned with your skills, interests, and potential. No resume black holes. No spray-and-pray applications. Just smarter matching and real visibility to hiring teams actively looking for someone like you.