Default Loan Counselor I
About the role
PENNYMAC Pennymac (NYSE: PFSI) is a specialty financial services firm with a comprehensive mortgage platform and integrated business focused on the production and servicing of U.S. mortgage loans and the management of investments related to the U.S. mortgage market. At Pennymac, our people are the foundation of our success and at the heart of our dynamic work culture. Together, we work towards a unified goal of helping millions of Americans achieve aspirations of homeownership through the complete mortgage journey.
A Typical Day The Loan Counselor plays a crucial role in proactively managing and resolving early-stage delinquent loans. This role involves direct interaction with borrowers to understand their financial situation, apply effective collection strategies, and explore available foreclosure alternative programs. The Loan Counselor will leverage investor, state, and company-specific programs to develop and implement sustainable solutions, ultimately minimizing losses and guiding borrowers towards a permanent resolution of their delinquency.
As one of the top mortgage lenders in the country, Pennymac has helped over 4 million lifetime homeowners achieve and sustain their aspirations of home. Our vision is to be the most trusted partner for home. Together, 4,000 Pennymac team members across the country are guided by our core values: to be Accountable, Reliable and Ethical in all that we do. Pennymac is committed to conducting a business that makes positive contributions and promotes long-term sustainable growth and to fostering an equitable and inclusive environment, where all employees and customers feel valued, respected and supported.
Responsibilities
- Communicate with customers through inbound queues and outbound campaigns to address early-stage loan defaults.
- Build rapport, determine the reason for delinquency, evaluate repayment capacity and secure payments.
- Proactively manage and address first payment defaults, implementing appropriate collection and loss mitigation strategies.
- Accurately update customer financial records to enable the processing of foreclosure alternative programs.
- Provide clear and concise updates to customers regarding program outcomes and guide them through the recommended next steps.
- Assist in cross-department call overflow and addressing customer inquiries.
- Provide comprehensive service, resolution, and detailed documentation for escalated customer issues.
- Proactively manage and track self-initiated follow-ups to ensure timely resolution.
- Perform additional related duties as assigned.
- Consistently uphold and promote the organization's desired culture and values through