Mortgage Loss Mitigation Specialist

About the role

Responsible for the collection of all residential mortgages, Home Equity Lines, and consumer loans. In compliance with FDCPA, will attempt to contact borrowers when a mortgage payment is missed to determine the reason for the delinquency and to assist the borrower with making payments or discuss the options available to bring the account current, such as forbearance agreements, or other loss mitigation programs available.

Responsibilities

• Manage inbound, outbound, and follow up calls related to Mortgage Loss Mitigation and collection efforts to ensure quick and effective solutions are provided to each borrower.
• Follow the Fair Debt Collections Practices Act (FDCPA) and comply with Cathay Bank’s policies and procedures related to mortgage delinquencies, defaults, and collection.
• Ensure effective collection of an assigned group of delinquent loans to minimize losses to the Bank, including escalated or large payment delinquencies.
• Contact delinquent customers for repayment and accurately document customer account information.
• Promptly provide information about the availability of loss mitigation options to borrowers who express adverse changes in their financial circumstances that is likely to cause them to experience a long-term delinquency for which loss mitigation options may be available.
• Monitor and manage mortgage delinquent report activities. Recording details of comments, inquiries, complaints, and actions taken.
• Provide excellent customer service by researching payment delinquency related questions with Loan Servicing Department in a timely manner.

Requirements

• Education: High school diploma or equivalent.
• Skills/Ability: Strong organizing and problem-solving skills; good written and verbal communication skills; must be able to adapt well in a fast paced and constantly changing business environment; PC proficient; demonstrated ability to work in a team-oriented environment and provide good customer service.
• Bilingual is a plus.

Qualifications

• Education: High school diploma or equivalent.
• Skills/Ability: Strong organizing and problem-solving skills; good written and verbal communication skills; must be able to adapt well in a fast paced and constantly changing business environment; PC proficient; demonstrated ability to work in a team-oriented environment and provide good customer service.
• Bilingual is a plus.

Benefits

Cathay Bank offers its full-time employees a competitive benefits package which is a significant part of their total compensation. It is our goal to provide employees with a comprehensive benefits package to fit their needs which includes, coverage for medical insurance, dental insurance, vision insurance, life insurance, long-term disability insurance, and flexible spending accounts (FSAs), health saving account (HSA) with company contributions, voluntary coverages, and 401(k).

Pay

$25.53 – $28.13 / hour Pay determined based on job-related knowledge, skills, experience, and location.

Schedule

N/A