Retail Collections Specialist

The Washington Trust Company - Westerly, RI

Full-time - Entry Level

Westerly, RI

Credit Intermediation and Related Activities

About the position

The Retail Collections Specialist is responsible for managing collections on various loan portfolios, including Mortgage and Consumer Portfolios, as well as Investor portfolios. This role focuses on ensuring compliance with servicing guidelines, effectively communicating with borrowers, and reducing non-performing assets. The position supports a hybrid remote/on-site schedule, allowing for flexibility in work arrangements.

Responsibilities

• Contact and work with delinquent residential/consumer loan customers for timely loan payments.
• Discuss status of payments and need for assistance, establishing timelines for payments to bring loans current.
• Adhere to the Fair Debt Collections Practices Act, CFPB, and all other applicable regulations.
• Process delinquent loan payments and follow up with borrowers as required.
• Update reports on delinquent loans and collection activities as required.
• Utilize special collection software (Carm-Pro/CRM) to follow up on delinquent accounts.
• Send legal referrals to the bank's counsel for Estate Claims, Foreclosures, and other legal actions as needed.
• Coordinate with borrowers to gather documentation for Loss Mitigation applications and send applicable Loss Mitigation letters.
• Independently manage Investor Portfolios including Fannie Mae, Freddie Mac, FHA, USDA, and private investor loans.
• Order property inspections and manage tasks in SMDU and Resolve.
• Send borrower solicitation packages and ensure compliance with servicing guidelines.
• Understand and communicate forbearance plan terms and repayment options available to borrowers.
• Process modifications (Deferrals and FLEX Modifications) within SMDU and Resolve.
• Complete monthly EDR reporting requirements on GSE and Private Investor loans.

Requirements

• 3+ years relevant work experience in Consumer Collections or a related field.
• Knowledge of consumer credit (Dodd-Frank/CFPB) and Fair Debt Collection Practices Act.
• Experience with extensive customer contact via telephone.
• Professional verbal and written communication skills.
• High attention to detail.
• Good organizational and follow-up skills with the ability to multi-task.
• Ability to work independently with a sense of urgency.
• Basic Microsoft Word and Excel skills, as well as prior experience with collections software.
• Demonstrated effective communication and interpersonal skills.
• BA/BS Degree or relevant work experience in lieu of degree.

Benefits

• Health and welfare benefits
• Paid time-off
• Work-life program
• 401(k) plan