Mortgage Collection Counselor III

$46,010 - $70,512/Yr

Navy Federal Credit Union - Winchester, VA

Full-time - Mid Level

Winchester, VA

Credit Intermediation and Related Activities

About the position

The Mortgage Collection Counselor III is responsible for managing and collecting on past due mortgage and equity accounts that are 31 days or more delinquent. This role involves providing financial counseling to members, mitigating losses for Navy Federal, and serving as a mentor and trainer for team members. The position requires a high level of independence and the ability to handle complex tasks while ensuring compliance with all relevant regulations and guidelines.

Responsibilities

• Control past due mortgage and equity delinquencies by regularly reviewing member account data and contacting members.
• Ensure required notifications, including collection emails and letters, are sent to members.
• Maintain systematic and reliable notes and contact history on each member interaction.
• Record, track, and report member concerns to management.
• Notate member arrangements in the Collection system and document reasons for delinquency.
• Track and update action items in databases.
• Collect, prepare, and maintain data for analysis and reporting.
• Perform manager share transfers (MST) for amounts up to authorized limits.
• Obtain detailed financial information from delinquent members and offer solutions to avoid bankruptcy.
• Contact and counsel delinquent members to cure delinquency using available payment options.
• Analyze, research, and resolve problems related to member accounts and loans.
• Ensure required notifications are sent to members regarding breaches and collections.
• Initiate corrective actions to member accounts to ensure accurate documentation.
• Respond to inquiries and offer solutions to members and other business units.
• Communicate external loss mitigation options to members.
• Offer short-term property retention solutions and explain relinquishing property options.
• Serve as a mentor and provide guidance to team members.
• Research and synthesize data to present conclusions and recommendations.

Requirements

• Significant experience in performing clerical or administrative duties.
• Significant experience in member/customer service, preferably in a call center or financial institution.
• Advanced knowledge of state and federal laws affecting mortgage collections.
• Significant experience in resolving complex mortgage collection issues.
• Expert knowledge of NFCU, Fannie Mae, VA, and Freddie Mac guidelines.
• Expert knowledge of Fair Debt Collection Practices Act and related consumer protection regulations.
• Advanced knowledge of accounting, credit, and lending principles.
• Experience in leading and mentoring others.
• Experience in roles with increasing levels of responsibility.
• Significant experience with complex specialized accounts and bankruptcy regulations.
• Ability to work independently and in a team environment.
• Advanced clerical, technical, or administrative skills.
• Advanced research, analytical, and problem-solving skills.
• Advanced verbal and written communication skills.
• Advanced database and presentation software skills.

Nice-to-haves

• Working knowledge of Navy Federal mortgage products, services, programs, policies, and procedures.

Benefits

• Highly competitive pay
• Generous benefits and perks
• Career development opportunities
• Hybrid work environment