A&D Mortgage is a Florida-based Nationwide Mortgage Lender providing successful residential and commercial loans for over 20 years. With a team of 200+ employees across the United States, we represent our A+++ service in 40+ states.
The Collections Specialist & REO Agent is responsible for managing delinquent mortgage accounts, pursuing loss mitigation options, and coordinating the sale of real estate owned (REO) properties on behalf of the mortgage lender/servicing department. This role requires a combination of collections expertise, real estate knowledge, and strong communication skills.
Responsibilities:
Collections:
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Contact delinquent borrowers to collect past due payments and negotiate payment arrangements.
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Evaluate borrowers' financial situations and determine appropriate loss mitigation options, such as loan modifications, forbearance agreements, or short sales.
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Prepare and submit loss mitigation documentation for investor approval.
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Monitor and manage delinquent accounts through foreclosure process, if necessary.
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Maintain accurate and detailed records of all collection activities.
REO Management:
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Oversee the REO process, from property preservation to final disposition.
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Coordinate property inspections, repairs, and maintenance.
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Select and manage real estate agents for REO property listings.
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Review and negotiate offers on REO properties.
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Coordinate closings and ensure timely transfer of title.
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Manage property taxes, insurance, and other expenses related to REO properties.
Additional Responsibilities:
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Stay up-to-date on industry regulations and best practices.
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Provide excellent customer service to borrowers and internal stakeholders.
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Collaborate with other departments, such as loan servicing, underwriting, and legal, to ensure smooth and efficient processes.
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Prepare and submit regular reports on collection and REO activities.
Qualifications:
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Bachelor's degree in finance, real estate, or related field preferred (but not required with relevant experience).
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2+ years of experience in mortgage collections and/or REO management.
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Strong knowledge of foreclosure laws and regulations (or willingness to do the thorough research)
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Excellent communication and negotiation skills.
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Ability to work independently and as part of a team.
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Proficiency in Microsoft Office Suite (must) and mortgage servicing software (a plus).
Skills:
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Analytical and problem-solving skills.
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Attention to detail.
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Ability to prioritize and manage multiple tasks simultaneously.
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Strong interpersonal and customer service skills.
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Excellent written and verbal communication skills.
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Proficiency in Microsoft Office Suite.