Homeowners Assistance Specialist I - Mortgage

Fifth Third Bank; Cincinnati (OH); On-site; USD 45,000 - 65,000; Full time

Job summary

Fifth Third Bank in Cincinnati, Ohio is looking for a Collections Specialist to assist in loss mitigation processes. The role requires analyzing financial statements, negotiating workout options, and ensuring compliance with regulatory standards.

The ideal candidate will have a strong background in collections or default servicing, along with excellent communication and organizational skills. This position allows for career growth in a supportive environment with competitive compensation and benefits.

Qualifications

• Minimum 2 years collections or default servicing experience.
• Ability to evaluate a customer’s situation without judgment.
• Knowledge of reviewing financial statements and credit reports.

Responsibilities

• Analyze borrower financial statements and recommend alternatives.
• Negotiate and pre-approve workouts.
• Facilitate contract negotiations in real estate sales.

Skills

Collections and default servicing

Understanding of FDCPA and state laws

Excellent communication skills

Microsoft Word and Excel proficiency

Strong organizational skills

Education

High School Diploma or equivalent

Job description

Overview

Make banking a Fifth Third better®
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General Function

Under moderate supervision, the Specialist will work with borrowers, mortgage brokers, investors, title companies, attorneys, insurers and real estate agents to mitigate foreclosure/REO avoidance/losses. The specialist works to minimize potential in accordance with departmental, investor, insurer and legal guidelines. The specialist will determine, recommend and follow through to conclusion the most feasible and best option for the customer, the investor and/or Fifth Third Bank. The position impacts bank losses in excess of $200 million annually. Responsible for risk through open exchange of ideas, elevating concerns, following policies and ensuring a positive customer experience and adherence to risk appetite.

Duties & Responsibilities

• Analyze the borrower’s financial statements, tax returns, credit reports, etc. and recommend the best alternative.
• Negotiate and pre‑approve workouts.
• Prepare settlement documents and approval forms.
• Explain workout options to the borrower.
• Research accounts when applicable.
• Skip‑trace accounts.
• Quote reinstatement amounts, payoffs and set up repayment plans within the system.
• Receive and route proceeds checks to ensure proper handling and loan payoff.
• Process foreclosure holds.
• Correspond with borrower on deal approvals or denials.
• Update records to ensure the customer receives appropriate assistance and Fifth Third Bank has knowledge of the location and condition of collateral.
• Facilitate contract negotiations in the sale of real estate.
• Provide extensive loss analysis and recommendations for loan workout related to all aspects of loss mitigation.
• Assist in controlling company expenses related to foreclosure and repossession of collateral.
• Arrange for contractual services relating to property inspections, appraisers, real estate agents, etc., as needed.
• Review and analyze title searches, asset searches and customer records.
• Make collection/demand calls to borrowers and brokers as required.
• Ensure the system is properly updated for monthly reporting.
• Perform other duties as assigned by the management team.

Supervisory Responsibilities

None

Knowledge & Skills Required

• High School Diploma or equivalent.
• Minimum 2 years collections or default servicing experience.
• Intermediate proficiency in Microsoft Word and Excel.
• Excellent verbal and written communication.
• Understanding of collections and default servicing practices. Foreclosure, bankruptcy and REO experience preferred.
• Ability to evaluate a customer’s situation without judgment.
• Excellent customer service skills with both external and internal customers.
• Knowledge of FDCPA, Privacy Act, state laws and other bank policies and investor requirements in respect to collection guidelines.
• Experience analyzing financial statements, tax returns, credit reports, home appraisals, title searches and other documents.
• Knowledge of reviewing and interpreting credit bureau reporting, settlement statements, title policies and real estate listing & purchase agreements.
• Strong organizational skills and attention to detail.
• Ability to work independently with minimal supervision.
• Strong analytical, problem solving and mathematical skills for financial counselling and evaluation and interpretation of complex information.
• Ability to work overtime as needed.
• Strong negotiating and follow‑up skills, and the ability to meet deadlines.
• Must be able to work in a team environment with employees at all levels.

Compensation & Benefits

The base salary for this position is reflective of the range of salary levels for all roles within this pay grade across the U.S. Individual salaries within this range will vary based on factors such as role, relevant skill set, relevant experience, education and geographic location. In addition to the base salary, this role is eligible to participate in an incentive compensation plan, with any such payment based upon company, line of business and/or individual performance. Our extensive benefits programs support the physical, financial, emotional and social well‑being of employees and their families.

Location

Cincinnati, Ohio 45227

EQUAL OPPORTUNITY EMPLOYER
Fifth Third Bank, National Association is proud to have an engaged and inclusive culture and to promote and ensure equal employment opportunity in all employment decisions regardless of race, color, gender, national origin, religion, age, disability, sexual orientation, gender identity, military status, veteran status or any other legally protected status.