Collections Specialist

Job Description

Job Description

We are looking for a Collections Specialist to support mortgage servicing operations by engaging with borrowers, resolving early-stage delinquency, and helping protect account performance. This role focuses on accounts that are past due through roughly 90 days and requires thoughtful communication, accurate documentation, and consistent follow-through. Based in Palatine, Illinois, the position works closely with internal teams to address borrower concerns, secure payments, and route accounts for additional assistance when appropriate.

Responsibilities:
• Oversee a portfolio of past-due mortgage accounts and complete daily collection activities in line with service expectations and established timelines.
• Speak with borrowers to review payment history, understand the reasons for delinquency, and explain available options for bringing loans current.
• Accept payments, record promises to pay, and maintain complete account notes within servicing platforms.
• Arrange repayment solutions that align with company procedures, investor requirements, and servicing guidelines.
• Examine transaction records, prior correspondence, and loan activity to resolve borrower questions and support collection efforts.
• Track delinquency reports, work queues, and follow-up items to ensure exceptions and unresolved issues are addressed promptly.
• Recognize when a borrower may need longer-term assistance and coordinate transfer or referral to the Loss Mitigation team.
• Partner with internal departments to clear account discrepancies, respond to servicing-related concerns, and improve borrower support outcomes.
• Use dialer tools, workflow systems, reporting applications, and related technology to manage workload efficiently.
• Contribute to user testing, procedural revisions, operational enhancements, and other assigned projects as business needs evolve.• At least 3 years of experience in collections, mortgage servicing, banking operations, financial services, call center support, or a closely related field.
• Prior exposure to delinquent loan servicing and borrower outreach within mortgage or consumer collections environments.
• High school diploma or equivalent required; additional college coursework or an associate degree is preferred.
• Strong verbal communication, active listening, customer service, and negotiation abilities.
• Ability to interpret and follow documented procedures, servicing standards, client expectations, and applicable lending guidelines.
• Working knowledge of Microsoft Outlook, Word, and Excel.
• Experience with mortgage servicing platforms such as Black Knight MSP is preferred.
• Bilingual English/Spanish skills are a plus.