Mortgage Loan Collections

TIB-The Independent BankersBank is the second largest bankers bank in North America serving over 1,200 customers in over 40 states. Our only business is correspondent banking. TIB is located in Irving, Texas.  We are currently seeking a Servicing Loan Counselor to work in our Mortgage department.  TIB offers great benefits and a 401(k) program

 

Basic Function:

Responsible for the collection process of delinquent accounts from 1 day past due to 65 days past due, including phone contact, delinquency notices, and correspondence cycles in compliance with federal and investor requirements.  Determine reasons for default and recommend workout and loss mitigation candidates.

 

Major Duties / Responsibilities:

1.  Maintain a predetermined delinquency ratio.

2.  Demonstrate a strong working knowledge of regulatory, investor, insurance company and TIB guidelines in the collection of delinquent mortgages.

3.  Contact past-due borrowers by phone, utilizing all available tools to locate valid numbers.

4.  Analyze all available system information and memos to enhance each contact.

5.  Schedule call priorities according to loan characteristics and risk attributes, in accordance with investor guidelines.

6.  Schedule, prepare and mail all correspondence in accordance with federal requirements and investor guidelines, including late charge notices, counseling letters, ?breach? letters, and others.

7.  Update Loan Servicing System with the results of all call attempts.

8.  Identify and document reasons for default.

9.  Fully document changes in phone numbers, contact information, mailing addresses, employment, etc.

10.  Inform customers regarding the impact of delinquent payments, including negative credit reporting.

11.  Collect the total amount due, or establish specific reasonable payment plans including full payments plus plan amount.

12.  Identify candidates for workout opportunities, referring appropriate candidates to Loss Mitigation Specialist.

13.  Work closely with Loss Mitigation Specialist in cases of ?no contact? or other special needs cases, to ensure effective collection and contact, as well as consistent service to our customers.

14.  Monitor and follow up on all payment plans, ?promises to pay? and statements that payments have been mailed.

15.  Utilize payment tools to improve efficiency, serve customers, and cure lates: SpeedPay, ACH, website, etc.

16.  Back up the Loss Mitigation Specialist?s responsibilities in their absence.

17.  Perform other duties assigned by management.

 

Requirements / Desired Qualifications:

?  Regular and punctual attendance is required.

?  Excellent written and verbal communication skills are required.

?  Recent two years experience collecting delinquent conventional mortgages.  Minimum four years industry experience.

?  Thorough working knowledge of FDCPA, CRA, FACTA, Bankruptcy and other related regulatory requirements.

?  Strong computer skills, specifically Word and Excel.

 

Software:



Mortgage Servicing database systems

Microsoft Word

Microsoft Excel

Microsoft Outlook