Collections Specialist

Job Description The Late Stage Collections Specialist II will counsel borrowers on methods for bringing their loan current, negotiate workout and modification options, and serve as the primary contact for borrower interactions. This role requires performing all duties in compliance with company policies and applicable US state and federal laws, and may involve referring complex situations to a higher‑level specialist. What You’ll Do Explains detailed mortgage loan information to borrowers including the HUD Waterfall, mortgage loan information and loan workout and modification options. Evaluates and helps determine the borrower’s ability to pay, and collects appropriate financial information in a courteous and professional manner, striving for first‑call resolution and compliance with all applicable regulations. Counsels borrowers on their options through education of alternative solutions. Contacts borrowers, utilizing an automated dialing system (Aspect Dialer) for both inbound and outbound calls and conducts manual outbound calls. Provides alternatives to borrowers who demonstrate the ability and/or inability to pay, by offering loan modifications, short sales, Deed in Lieu of Foreclosure, and/or possible refinancing. Negotiates reasonable payment arrangements with borrowers, assembles and provides the required documents to complete a borrower “Request for Mortgage Assistance” package in compliance with department policies and procedures. Functions as the single point of contact for a borrower. May need to escalate borrowers to a licensed Loss Mitigation associate for specific workout details. Provides status on payments and payoff inquiries; reviews short sale requests; provides vendor information on Real Estate Owned (REO) properties; verifies payment history and new servicer contact information; processes payments. Assists with loan servicing website payments, denied access, and password resets. Responds to escrow, loss draft, and closing document inquiries. Provides status on a wide variety of loan servicing functions including loss draft, short sale, Deed in Lieu of Foreclosure, modification/refinance requests, payment/credit disputes, escrow refunds, vendors for REO properties, repayment plans, and down payments on foreclosure pending mortgages. Performs other duties as assigned. What You’ll Need High school diploma or equivalent work experience. Two (2) years of collections, loss mitigation, or single point of contact experience in a call center environment. A minimum of two (2) years’ experience in the Banking, Mortgage/Loan Servicing industries. Strong knowledge of Fair Debt Collection Practices Act. Strong knowledge of relevant and industry‑specific computer software packages. Strong verbal communication skills – ability to express or exchange ideas by means of the spoken word, communicating orally with others accurately, audibly, and quickly. Negotiation skills that allow the Late Stage Collections Specialist to control the call and come to a proper resolution for both the company and the borrower. Proficient higher level math skills needed to calculate and communicate borrower payments. Ability to understand moderately complex collection issues and to collaborate and explore alternative solutions. Benefits Comprehensive healthcare plans for you and your family. Plus, a discretionary 401(k) match of 50% of the first 4% of pay contributed. Access to several fitness, restaurant, retail, and other employee discounts through our employee portal. Customized training programs to help you advance your career. Employee referral bonuses so you’ll get paid to help the company grow. Educational reimbursement. Carrington Charitable Foundation supports community causes. For more information, visit carringtoncf.org. #J-18808-Ljbffr