Recovery Specialist

Recovery Specialist (Non-LO-Servicing)

At Vanderbilt Mortgage, we believe homeownership makes lives better. For over 50 years, we've been committed to making homeownership more attainable for families across the country by providing mortgage solutions that unlock the freedom of home. As a national housing lender, we specialize in financing new and pre-owned manufactured and modular homes. With a diverse range of loan products, a reputation for world-class customer service and a coast-to-coast presence, Vanderbilt continues to be a leader in the industry. Our strength is our peoplewhich is why we prioritize investing in our Team Members through opportunities for growth, a healthy work-life balance, and meaningful recognition of their contributions. Whether just starting out or bringing years of experience, Vanderbilt empowers our Team Members with the tools and training to build a successful career and reach their full potential.

POSITION TITLE: Recovery Specialist (Non-LO-Servicing)

JOB STATUS: Full Time/Hourly

DEPARTMENT: Default Servicing

REPORTS TO: Recovery Team Lead

TRAVEL REQUIRED: None

WORK SCHEDULE: Hybrid - 4 days in office, 1 day remote.

PAY:

The expected hiring range for this position is from $20.39 to $21.75/hour plus additional bonus opportunity. The stated hiring range is based on experience, qualifications, and other relevant factors. Final compensation decisions will take into account a variety of considerations, including individual skills, internal equity, and organizational needs. Secured bonus which will be paid in 3 installments of $850 a month for the first 3 months of hire.

JOB SUMMARY:

The Recovery Specialist works a specific group of VMF originated and other serviced loans nationwide to collect deficiency balances post charge-off, foreclosure, or repossession. This role reports to the Recovery Team Lead and duties include reviewing files thoroughly (including servicing history) to determine the best method to collect deficiency balances and recommends loans to be reviewed for monetary judgments and settlements when applicable. The Recovery Specialist must understand and adhere to VMF policies and procedures as well as review and observe State and Federal guidelines regarding debt collection, bankruptcy, and judgments.

JOB FUNCTIONS:

Account Management

• Reviews servicing history of newly recovered loans, including repossessions, foreclosures, charge-offs, and consumer lending, to determine the best method to collect deficiency balances.
• Processes and issues explanation of deficiency letters to customers.
• Work with customers to discuss their financial obligations and negotiate repayment plans or settlements.
• Assists in customer data validation in system.
• Recommends timing for 1099C process as well as loan inactivation.
• Assists Non-Vanderbilt Customers in resolving title chain, UCC Filing, and Lien Issues.
• Provides information and answer customer questions on post repossession and foreclosure processes including:
• Credit reporting
• Deficiency resolutions
• 1099C's.
• Assesses, manages, and updates monetary judgements in the system for all VMF owned loans obtained by the legal department.

Legal Actions

• Recommends judgements and wage garnishments when applicable.
• Assesses, handles, and renews monetary judgements obtained by legal department on all VMF owned loans.
• Recommends foreclosure action when applicable in accordance with federal and state regulations.

Operational Support

• Assists in keeping all policies and procedures up to date for the Recovery Department.
• Assists in reading and analyzing new regulatory items and recommending policy changes when necessary.

Other duties as assigned

This job description is not an exhaustive list of all the functions that a team member and other duties may be assigned.

QUALIFICATIONS:

• Education: High School diploma or equivalent required
• Experience : Minimum 1-2 years related experience.
• Working knowledge of credit reporting and how that pertains to post foreclosure/repossession balances.
• Basic computer skills with ability to type at least 25 wpm.
• Basic understanding of Microsoft Office.
• Ability to communicate effectively and efficiently via phone, email, and person-to-person.
• Capable of gathering facts accurately, analyze causes, evaluate alternate solutions, and arriving at sound conclusions on action to be taken.
• Ability to manage multiple and/or conflicting responsibilities.
• Great attention to detail, organizational skills, and time management.
• Good sense of urgency and follow-up.
• Ability to handle stressful situations and have difficult conversations with borrowers.
• Ability to work in a team environment.
• Capable of dealing with changes that can and will occur periodically.
• Ability to make difficult decisions on behalf of VMF.

PHYSICAL DEMANDS:

• Must be able to remain in a stationary position 75% of the time.
• Will be constantly operating a computer and other office productivity machinery, such as a telephone, calculator, copy machine, and computer printer.
• Will be communicating 75% of the time over the phone.
• Must be able to exchange accurate information at all times.
• Must be able to identify and assess account status and determine appropriate process.
• Will constantly work in a state-of-the-art indoor temperature controlled, sealed window office environment.

BENEFITS:

• Medical and Dental Plan with Prescription Coverage and Vision.
• Competitive benefits including 401(K) includes 100% company match of the first 4%.
• Paid time off days (PTO), maternity/paternity leave, and holidays.
• Community involvement including Volunteer Paid Time Off (VTO).
• Tuition Assistance for your first degree
• Enjoy coming "home" to our brand new, state-of-the-art Home Office equipped with onsite fitness facility with full gym, workout classes, volleyball and basketball courts, ping-pong, disc golf course, and onsite restaurant.
• Wellness programs that focus on emotional, social, spiritual, intellectual, environmental, physical, and financial well-being.
• Collaborative and energetic work environment.
• Professional development and promotional opportunities.
• Competitive bonus programs.

Vanderbilt Mortgage and Finance, Inc. is an equal opportunity employer and does not discriminate on the basis of race, national origin, gender, gender identity, sexual orientation, protected veteran status, disability, age, or other legally protected status.