Bi-Lingual Loss Mitigation Specialist
Full Time | Chicago, IL
The Loss Mitigation Specialist is the point of contact for early-stage delinquent accounts for collection activities. This level of Loss Mitigation Specialist is responsible for assisting customers that are 0 to 90 days past due with loss mitigation solutions. The resolution provided may include collections of the past due amount to return to a current payment status and short-term repayment plans.
- Interact with borrowers that are 0 to 90 days delinquent that need assistance.
- Evaluates and helps to determine the borrower’s ability to pay the past due payments and collects financial information in a professional manner, with an emphasis on first call resolution.
- Counsel borrowers on options to meet their payment obligations, explain terms and arrange short term repayment plans based on department procedure.
- May need to educate on long term delinquency strategies for borrowers who want to keep their homes including forbearance plans, repayment plans, deferments, and loan modifications.
- Assist with the preparation of loss mitigation documentation requests for borrowers.
- Work with borrowers to complete, sign and return loss mitigation applications.
- Assists in other Loss Mitigation Department functions including requesting payoff quotes and information requests such as searching for missing loan documents and completing QWR/Complaint document research requests.
- Maintain and document mortgage collection systems and databases, with all activities and communications.
- Demonstrate accurate knowledge and strict adherence of federal regulations and collection laws (FDCPA).
- Follow all company policy and procedures.
- Successfully complete annual regulatory compliance training.
- Additional duties as assigned.
- Knowledge of loan servicing software/systems
- Computer and Office Suite proficiency
- Technical capability to utilize office equipment
- Collaboration and teamwork
- Customer focused
- Communication and interpersonal competency
- Problem solver
- Organization and time management
- 1 + years of loss mitigation experience in a residential loan servicing or default loan servicing department
- Communication skills with demonstrated ability to interact in a positive and professional manner
- Demonstrated critical thinking skills
- Detail-oriented with superior organizational and time management skills
- Self-starter; takes initiative within role and responsibilities
- Excellent customer service skills
- Beginning to Intermediate technology skills including Excel
- Proactive in identifying ways to improve service and support
- Ability to be a team player by working closely with Servicing Manager and loan servicing staff
- Other: Preferred Education/Experience: Associates degree or higher
- Fluent Spanish