Mortgage Resolution Specialist

vystarcu; Jacksonville (FL); On-site; USD 42,000 - 68,000; Full time

Benefits offered by this job

401(k) plan

Tuition reimbursement

On-the-job training

Job summary

VyStar Credit Union in Jacksonville, FL, seeks a Mortgage Resolution Specialist to contact members and reduce exposure to losses from delinquent mortgage accounts. You will review accounts, discuss solutions, arrange payments, and document activities to support loss mitigation efforts.

Responsibilities include skip tracing, potential legal action referrals, and updating records in core systems while cross-selling VyStar services and upholding VyStar values.

Qualifications

• Minimum formal education is completion of high school.
• Specialized classes in bankruptcy, foreclosure, and mortgage collections and loss mitigation.

Responsibilities

• Reviews delinquent mortgage loan accounts in the core collection system to determine appropriate collection activity.
• Contacts members to discuss reasons for delinquency and potential solutions.
• Obtains information to effect collection and set payment arrangements.
• Determines appropriate and timely follow-up contact with member.
• Skip traces unlocated members to establish contact.
• Locates member and may recommend legal action to reduce loss to VyStar.
• Updates delinquent accounts in core collection systems and documents activity.
• Notates core collection system and provides documentation for management review.
• Cross-sells other VyStar services and adheres to VyStar values and ethics.

Education

High school diploma

Specialized mortgage loss mitigation classes

Job description

At VyStar, we offer competitive pay, an excellent benefit package that includes a 401(k) Plan, an extensive paid technical and on-the-job training program, and tuition reimbursement-available to all full and part time employees. Part time positions start at a minimum of 30 hours per week.

We encourage you to become a part of VyStar Credit Union's family of employees.

Mortgage Resolution Specialist

ACCOUNTABILITY STATEMENT

The Mortgage Resolution Specialist contacts members to effectively reduce VyStar's exposure to financial losses caused by delinquent mortgage loan accounts. Activities must be conducted in compliance with federal and state regulations to avoid possible harassment claims and litigation. In addition, the incumbent must be well versed in secondary market and private mortgage insurance guidelines regarding mortgage loan collections and loss mitigation efforts.

ESSENTIAL RESPONSIBILITIES

• Reviews delinquent mortgage loan accounts in the core collection system, which have been assigned to gain information to determine appropriate collection activity to effectively elicit monies due from members.
• Contacts members to discuss reason for delinquency and possible solutions to resolve delinquency.
• Obtains information to effect collection on account and make payment arrangements.
• Determines appropriate and timely follow-up contact with member.
• Skip traces unlocated members to establish contact.
• Locates member and recommends legal action, which may ultimately reduce loss to VyStar.
• Daily works the collection system queues to ensure each delinquent account has been followed for activity and account is accurately documented in the core collections systems.
• Initial contact with member, mortgage resolution specialist assesses the reason for the delinquency and proposes solutions to the member for consideration in resolving the delinquency.
• Notates core collection system.
• Provides member hardship request information and list of documentation required to provide management to consider note modification, payment deferment, payment plan, or other special arrangements to resolve the delinquency.
• Provides documentation to Sr. Mortgage Loss Mitigation Specialist, Mortgage Servicing Manager, and/or Vice President Mortgage Servicing.
• Converses with members to discuss account information or make loan payment arrangements.
• Accepts funds and enters information to voucher to post transactions on data processing system or process check by phone requests.
• Recommends financial counseling and/or budgeting services to member's who are experiencing temporary financial challenges that are curtailing their ability to make the mortgage/equity payments in a timely manner.
• Updates delinquent accounts in Fannie Mae and PMI portals in compliance within insurer and investor guidelines.
• Works daily/weekly/monthly reports as assigned.
• Cross-sells other credit union services.
• Consistently adheres to VyStar core values and Code of Ethics and acts in accordance with those values.
• Performs the activities and projects as assigned and requested by the Mortgage Loss Mitigation Manager, Mortgage Servicing Manager and Vice President Mortgage Servicing.
• Identify and make recommendations to Mortgage Loss Mitigation Manager, Mortgage Servicing Manager and/or Vice President Mortgage Servicing regarding process improvements, quality service and increased efficiencies along with on all normal filings, any abnormal filing trends, and volume and filing demographics on a monthly basis.
• All employees and business units, as first line of defense, are expected to proactively help identify, assess, manage, and report risks within their domain of work.
• To enhance a healthy risk culture and support our growth for good pillar, employees will maintain vigilance in safeguarding our operations while ensuring compliance with regulatory mandates.
• The Risk team serves as the second line of defense by providing risk oversight and credible challenge whereas the Audit team serves as the third line of defense by providing risk assurance.
• Incumbent is expected to demonstrate each of the following VyStar Excellence behaviors and to provide support and feedback to employees assigned to the closing unit to consistently practice and demonstrate VyStar Excellence behaviors in performing the duties and responsibilities of their position.
• Expected VyStar behaviors are defined as:
• Focus Focus your full attention by carefully listening to and observing your client or member.
• Connect Consistently be friendly and approachable demonstrate you care.
• Understand Listen empathetically and ask questions (70%/30%)
• Counsel Recommend solutions based on your client's or member's needs and objectives.
• Advance Ensure that member's expectations are exceeded. Verify follow-up action.

JOB QUALIFICATIONS

EDUCATION

• The minimum formal education required is completion of high school.
• Specialized classes in bankruptcy, foreclosure, and mortgage collections and loss mitigation