Late Stage Collections Specialist I

Carrington Holding Company, LLC; Westfield (IN); On-site; USD 23,000 - 25,000; Full time

Benefits offered by this job

Comprehensive healthcare plans

401(k) match

Employee referral bonuses

Educational reimbursement

Discounts through employee portal

Job summary

Carrington Holding Company, LLC is seeking a Late Stage Collection Specialist I to assist borrowers in bringing their loans current and exploring alternative solutions. This entry-level role involves performing collections activities while learning loan workout functions.

Ideal candidates will possess strong verbal communication skills and basic math skills. The position offers comprehensive healthcare, a 401(k) match, and opportunities for professional advancement.

Qualifications

• Less than one year of collections experience in a customer service/call center environment.
• Experience in banking or mortgage/loan servicing industries preferred.

Responsibilities

• Counsel borrowers on methods to bring their loan current.
• Evaluate and help determine the borrower’s ability to pay.
• Provide alternatives like loan modifications and refinancing.

Skills

Strong verbal communication skills

Basic to intermediate math skills

Knowledge of Fair Debt Collection Practices Act

Education

High school diploma or equivalent work experience

Tools

Industry-specific computer software packages

Job description

The Late Stage Collection Specialist I will counsel borrowers on methods to bring their loan current and/or explore alternative solutions. This level of Loan Counselor may need to elevate cases requiring loan workout or modification to a higher-level Loan Counselor. Perform all duties in accordance with company policies, procedures, and applicable U.S. laws.

This role is the first level of the Loan Counselor job family, generally performing work of low to moderate complexity. Incumbents perform collections activities and learn loan workout functions. Pay: $23.50/hr plus monthly incentive; $1.50/hr additional for Spanish bilingual skill set.

What You’ll Do

• Explain detailed mortgage loan information to borrowers, including the HUD Waterfall, mortgage loan information and loan workout and modification options.
• Evaluate and help determine the borrower’s ability to pay, and collect appropriate financial information in a courteous and professional manner, striving for first‑call resolution and in compliance with all applicable regulations.
• Counsel borrowers on their options through education of alternative solutions.
• Contact borrowers using an automated dialing system (Aspect Dialer) for inbound and outbound calls, and conduct manual outbound calls.
• Provide alternatives to borrowers who demonstrate the ability or inability to pay, by offering loan modifications, short sales, Deed in Lieu of Foreclosure, and/or possible refinancing.
• Negotiate reasonable payment arrangements with borrowers, assemble and provide the required documents to complete a borrower “Request for Mortgage Assistance” package in compliance with department policies and procedures.
• May function as the single point of contact for a borrower.
• May need to elevate borrowers to a licensed Loss Mitigation associate for specific workout details.
• Provide status on payments and payoff inquiries; review short sale requests; provide vendor information on Real Estate Owned (REO) properties; verify payment history and new servicer contact information; process payments.
• Assist with loan servicing website payments, denied access, password resets.
• Respond to escrow, loss draft, and closing document inquiries.
• Provide status on a wide variety of loan servicing functions including loss draft, short sale, Deed in Lieu of Foreclosure, modification/refinance requests, payment/credit disputes, escrow refunds, vendors for REO properties, repayment plans, and down payments on foreclosure pending mortgages.
• Knowledge of or ability to learn requirements of the Fair Debt Collection Practices Act.
• Knowledge of relevant and industry‑specific computer software packages.
• Strong verbal communication skills – ability to express or exchange ideas by means of the spoken word, communicating orally with others accurately, audibly, and quickly.
• Basic to intermediate math skills (add, subtract, multiply, divide, and record, balance, and check results for accuracy).
• Ability to understand basic collection issues and collaborate to explore alternative solutions.
• Ability to apply state, federal and company requirements and make proper decisions.
• Ability to organize thoughts and ideas into understandable terminology.

What You’ll Need

• High school diploma or equivalent work experience.
• Less than one (1) year of collections experience in a customer service/call center environment and/or loan servicing experience.
• Experience in the banking, mortgage/loan servicing industries preferred.

What We Offer

• Comprehensive healthcare plans for you and your family.
• A discretionary 401(k) match of 50% of the first 4% of pay contributed.
• Access to several fitness, restaurant, retail (and more) discounts through our employee portal.
• Customized training programs to help you advance your career.
• Employee referral bonuses.
• Educational reimbursement.
• Contributions to community through the Carrington Charitable Foundation.