The Mortgage Collector is responsible for managing credit quality administration, including collection activities, loss mitigation activities, policies and procedures, reporting, and making recommendations regarding collection issues for mortgage and Serviced by Others (SBO) loan portfolios. Responsibilities include the handling of FHA/MI delinquency reporting, FHA/MI Claim reporting and filing. Tracking and foreclosure management through transferring to REO.
To perform this job successfully, an individual must perform each essential duty. The requirements listed herein are representative of the knowledge, skills, and/or abilities required.
Minimum age 18
Qualify to be bonded
Meet testing requirements and hiring standards Education/Experience:
High school diploma or equivalent
Bachelor's degree preferred or equivalent experience/skills
Minimum experience of 3-5 years in mortgage, consumer and loan collections, with exposure to foreclosure, repossession, probate, bankruptcy and other legal processes
Thorough knowledge of FHA and VA servicing of collection process's and claim process's.
Thorough knowledge of Fair Debt Collection Practices Act
Thorough working knowledge of bankruptcy laws, foreclosure laws, Texas Rules of Civil Procedure, Texas Property Code, and Texas Probate Code
Knowledge of banking practices and procedures
Working knowledge of federal, state and investor requirements
Excellent proficiency and knowledge of word processing and spreadsheets
Exceptional communication and organizational skills
Ability to independently reach sound conclusions and resolve issues related to bankruptcy loan processing
Ability to lead others and be a team player
Must be a self-starter and self-motivated
Able to work with little supervision Physical Demands:
The physical demands described here are representative of those that must be met by an employee to successfully perform the essential functions of this job. Reasonable accommodations may be made to enable individuals with disabilities to perform the essential functions. Specific requirements include:
Ability to stand; walk; sit; move about; use hands to finger, handle, or feel; reach with hands and arms; talk or hear; write legibly, and lift objects weighing as much as ten pounds to a distance of twenty feet
Ability to hear sounds accurately so as to eliminate miscommunications during conversations
Ability to feel texture and thickness of paper to quickly process large volumes of output
Ability to see accurately (20/40 with correction) to eliminate visual errors
Major Job Responsibilities:
Direct activities for all loan serviced portfolios to include, collection of past dues, bankruptcy, foreclosure, probate and repossession in accordance with established policies and procedures to minimize loss risk to the Bank.
Review loans for loss mitigation according to investor and guarantor guidelines.
Complete monthly delinquency reporting to Mortgage Insurance Companies.
Complete monthly delinquency reporting to FHA per FHA guidelines.
File FHA and Mortgage Insurance claims in the event of a foreclosure.
Control collection activities of SBO to ensure compliance with the servicing agreement.
Control as primary liaison to credit reporting agencies and other vendors on matters relating to credit quality.
Serve as liaison and interface with other bank departments to resolve issues and satisfy requests.
Control and monitors all bankruptcy, foreclosure, probate and repossession files, to ensure compliance with internal procedures.
Direct outsource servicer and local attorneys to ensure compliance with internal procedures, outsourcing and retention agreements and all required guidelines to ensure timely processing of loans in bankruptcy, foreclosure, probate and repossession.
Manage post-petition debtor and trustee payments in accordance with bankruptcy plan and/or court orders.
Report on a monthly basis the status of all loan serviced portfolios with regard to delinquencies and credit quality issues, including recommendations for changes in policies or procedures, as needed.
Provide management reporting on all accounts 30+ days past due.
Ensure accurate record of all collection actions on loan and provide regular reporting to management.
Escalate problem accounts to senior management immediately if indication for potential for loss is determined.
Assist other Loan Servicing staff as needed.
The above statements are intended to describe the general nature and level of the work being performed by people assigned to this work. This is not an exhaustive list of all duties and responsibilities. Cadence Management reserves the right to amend and change responsibilities to meet business and organizational needs as necessary. Cadence Bank is an affirmative action/equal opportunity employer. All qualified applicants will receive consideration for employment without regard to race, religion, color, national origin, sex, age, status as a protected veteran, among other things, or status as a qualified individual with disability.