Mortgage Servicing Specialist

Job description

Maintain knowledge of collection policies, manuals, Freddie Mac and Fannie Mae regulations and guidelines, the legalities that apply to collections, mortgage loan documents (including terms and covenants that affect collections) and the collateral security of the loan. Retrieve delinquency reports. Make initial contact (telephone, letter or face-to-face) with mortgage loan customers whose accounts are delinquent in accordance with Company policy, Fair Credit Collection laws and secondary market guidelines. Work with customers to establish a repayment arrangement to cure delinquency. Maintain the servicing system by documenting the dates contacted, reason for delinquency, action requested and promises made by the customer. Follow-up as needed. Request financial statements from the borrower when necessary to evaluate potential repayment and/or forbearance plans. Review information with the borrower. Counsel delinquent borrowers with credit problems and assist them in reducing their indebtedness and making full repayment to creditors thus re-establishing a satisfactory credit rating or refer them to an appropriate credit counseling organization. Obtain and provide information to credi...