Mortgage Hardship Specialist

About the role

The Mortgage Hardship Specialist processes mortgage financial hardship requests, modifications, and HELOC maturity requests received from members. They also prepare the closing package for member signatures, perform core system maintenance, and complete quality control functions.

Responsibilities

• Reviews incoming mortgage loan hardship, modification, and HELOC maturity requests and accompanying documentation for completeness.
• Pulls and reviews credit report to ensure the accurate calculation of housing to income and debt to income ratios, reviews Automated Valuation to determine property value.
• Prepares required hardship departmental worksheets and makes a recommendation to management based on their review that will best assist the member based on their specific situation.
• Communicates final hardship decision to the member, including terms and conditions of hardship approval or reasons for a hardship declination and schedules date/time/location for member to execute mortgage modification documentation.
• Completes the core system mortgage loan changes required to ensure loan is serviced in conjunction with the terms and conditions of approved mortgage modification.
• Notates special payment arrangements in credit union collection system throughout the mortgage modification process. Makes special payment arrangements with member(s) during hardship review process to confirm member’s willingness to make mortgage payments.
• Cross-trains to work the collection system queues to ensure each delinquent account has been followed for activity and account is accurately documented in the core collections systems.
• Identify and make recommendations to Mortgage Loss Mitigation Supervisor and/or Mortgage Servicing Manager regarding process improvements, quality service, and increased efficiencies.
• Performs other duties as assigned.
• Cross-sells other credit union services.

Qualifications and Experience

• Three + years’ experience in customer service, collections, or mortgages with a financial institution.
• Knowledge of federal and state regulations related to mortgage lending such as the Equal Credit Opportunity Act, Truth in Lending Act, Real Estate Settlement Procedures Act as well as the regulations related to collection activities such as the Fair Credit Reporting Act, Fair Debt Collections Practice Act (FDCPA), and Federal Bankruptcy Laws.
• Positive, well-developed communication skills, both written and oral, be detail oriented, have good organizational and active listening skills, the ability to work in a fast-paced environment, and proven ability to work with others.
• Professional conduct and appearance and be self-motivated. Must work under the philosophy of “people helping people” and be able to communicate with members and legal counsel at all levels. Applicants must demonstrate the qualities of a self-starter and one who follows through on all job duties.
• Knowledge of all Microsoft Office applications and credit union software and/or core operating systems pertinent to completing various tasks and responsibilities of the position is required.