Mortgage Collection Counselor III

Overview

To control/collect on past due late stage mortgage and equity accounts (31 + days) in delinquency, in accordance with all government, investor, VA/FHA, and Navy Federal rules and regulations. Provide member financial counseling and mitigate loss for Navy Federal. Serve as mentor/trainer and provide guidance and assistance to team members. Work under minimal supervision. Conduct complex/difficult tasks of considerable latitude.

Responsibilities

• Control past due mortgage and equity delinquencies by regularly reviewing member account data, contacting member, and reviewing or documenting the financial situation, to ensure data is accurate, up-to-date and in compliance with government and Navy Federal guidelines
• Ensure required notifications, including collection emails, letters and any applicable state/regulatory letters are sent to members
• Maintain systematic, consistent and reliable notes and contact history information on each member interaction and actions taken on accounts
• Record, track and report member concerns to management
• Notate member arrangements in Collection system, reason(s) for delinquency, and any foreclosure alternatives offered to member
• Track and update action items in database(s)
• Collect, prepare and maintain data for analysis, reports and reference
• Perform manager share transfers (MST) for amounts up to authorized limits
• Obtain detailed financial information from delinquent members and offer solutions and alternatives to bankruptcy/charge-off
• Contact and counsel delinquent members in an attempt to cure delinquency utilizing all payment options and loss mitigation tools offered by Navy Federal
• Analyze, research and resolve problems and discrepancies related to member accounts/loans
• Ensure required notifications, including breach and collection letters, and any applicable state/regulatory/investor letters are sent to members
• Initiate and ensure corrective action to member accounts and/or documentation to ensure complete and accurate documentation
• Respond to inquiries; offer solutions to members, other business units and external organizations
• Communicate external loss mitigation options, including, but not limited to: Making Home Affordable Program such as HARP
• Offer short term property retention solutions including repayment plans, promises-to-pay, forbearance, modifications and deferral programs
• Explain and communicate relinquishing property options such as short sales, deeds-in-lieu, and foreclosure
• Serve as mentor/trainer and provide guidance and assistance to team members
• Research, gather and synthesize data; present conclusions and recommendations to management and/or team members
• Perform other related duties as assigned

• Significant experience in performing clerical or administrative duties/responsibilities
• Significant experience in member/customer service preferably in a call center, retail banking or financial institution
• Advanced knowledge of state and federal laws affecting the collection of delinquent mortgage and equity loans; real estate, bankruptcy and foreclosure
• Significant experience in resolving complex mortgage collection issues and inquiries
• Expert knowledge of NFCU, Fannie Mae, VA and Freddie Mac and MI guidelines to determine eligibility for mortgage collection
• Expert knowledge of Fair Debt collection Practices Act, Fair Credit Reporting Act and related federal and state consumer protection rules and regulations
• Advanced knowledge of accounting, credit, and/or lending principles and techniques
• Experience in leading, guiding and mentoring others
• Experience in work which displays increasing levels of responsibility and/or authority
• Significant experience in working with complex specialized accounts/default data as it relates to collections/bankruptcy regulations and practices
• Ability to work independently and in a team environment
• Advanced clerical, technical or administrative skills
• Advanced skill following, interpreting and applying relevant data/instructions to guidelines, procedures, practices and regulations
• Advanced research, analytical, and problem solving skills
• Advanced verbal and written communication skills
• Advanced database and presentation software skills
• Advanced skill exercising initiative and using good judgment to make sound decisions

• Working knowledge of Navy Federal mortgage products, services, programs, policies and procedures