Senior Loan Collections Counselor

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Description

General Job Summary

The Senior Loan Counselor is accountable for collecting on loans that are 30 days or more past due. This position requires the ability to effectively counsel borrowers on loss mitigation solutions and to maintain ongoing communication that supports strong collection efforts and reduces the risk of default or foreclosure.

Summary of Essential Job Functions

• Initiate proactive contact with delinquent borrowers to reestablish consistent payment patterns and reduce default progression.
• Negotiate and restructure repayment arrangements to help borrowers cure delinquencies and avoid foreclosure, ensuring solutions align with investor and regulatory requirements. Review, negotiate, approve, calculate, set up, and monitor short term repayment plans.
• Ensure strict adherence to federal, state, investor, and insurer requirements governing collections, borrower communication, and collection processes.
• Collaborate with internal departments and external partners, including investor representatives, to maximize collection efforts and support resolution strategies. Work directly with investor contacts to complete required tasks, provide updates, and ensure alignment with portfolio expectations. Participate in investor conference calls and portfolio performance reviews.
• Develop and maintain a strong working knowledge of loss mitigation programs, understanding how retention and liquidation options integrate with early stage and late-stage default operations.
• Assist borrowers in completing financial packages, ensuring complete and accurate documentation is submitted within the required timelines.
• Educate borrowers on the consequences of delinquency, including potential impacts related to foreclosure, credit reporting, and bankruptcy. Maintain accurate and compliant servicing system records, including notes, codes, default holds, and status updates in the system of record.
• Authorize and establish one time and recurring payment drafts, ensuring proper setup.
• Review, instruct, and validate payment posting or reversal requests, ensuring accuracy and compliance with internal controls.
• Monitor and process suspense account queues, ensuring timely and accurate application of funds.
• Manage individual and shared departmental email inboxes, responding promptly and professionally to internal and external inquiries.
• Conduct outbound calls using both manual dialing and automated dialer systems, handle inbound borrower calls with professionalism, and adherence to compliance requirements.
• Secure and follow up on borrower promises to pay, documenting commitments and ensuring timely follow through.
• Perform skip tracing activities to obtain updated borrower contact information and improve outreach success.
• Generate, review, and act upon quality control reports and task lists from applicable systems to ensure accuracy and compliance.
• Provide backup support to team members during high volume periods or staffing shortages to ensure service level expectations are met.

Other Job Functions

• Participate in all required departmental training sessions.
• Attend and actively contribute to departmental meetings, offering insights, raising concerns, and supporting continuous improvement initiatives.
• Perform additional duties and responsibilities as assigned by leadership, including special projects, audits, quality control initiatives, or cross functional support as business needs evolve.

Requirements

Education, Training and Work Experience

• High school diploma (or equivalent) required.
• Knowledge of investor and insurer guidelines (Fannie Mae, Freddie Mac, FHLB, FHA/HUD, VA, USDA, and private investors) preferred.
• Previous experience in collections, and related default loan servicing preferred.
• Experience with call center systems, auto dialers, and telephony platforms is advantageous.
• Experience with ICE Mortgage Technology platforms, including MSP, is highly preferred.
• Proficiency with Windows operating systems and Microsoft Office applications (Outlook, Word, Excel, Teams) required, along with strong typing and data entry skills.

Knowledge, Skills, and Abilities

• Maintain and foster strong, positive working relationships with customers, internal teams, and external business partners.
• Complete all the training required within established timelines.
• Communicate professionally and effectively in both verbal and written formats, ensuring clarity, and accuracy.
• Demonstrate excellent organizational, time management, critical thinking & analytical skills.
• Exhibit a high degree of accuracy and attention to detail.
• Prioritize tasks effectively and meet deadlines, while maintaining consistent precision and adherence to established procedures. Handle confidential and sensitive information responsibly, in accordance with company policies and regulatory requirements.
• Build rapport, negotiate effectively, providing business oriented and provide business-oriented solutions for escalated issues and complex borrower and customer situations.
• Effective problem-solving skills, and a solutions-oriented mindset.
• Demonstrate a high degree of dependability, reliability, and accountability in daily responsibilities.
• Compliance with all applicable regulations, internal controls, departmental procedures, and company policies.

Working Environment

Primary work is performed in an indoor, climate-controlled office environment and/or a private home office, or a combination of both, at management's discretion. The employee may be exposed to fluorescent lighting, dust, and other normal indoor allergens. Work may occur in close proximity to coworkers or independently in a quiet setting.

Physical Requirements

• Able to lift up to 20 pounds.
• Extended periods of sitting (at computer desk)
• May be exposed to extended periods of interaction with other (listening/talking/taking notes)
• Complete repetitive tasks (including operation of computer mouse/keyboard)

Disclaimer

The above statements are intended to describe the general nature and level of work being performed by people assigned to this classification. They are not to be construed as an exhaustive list of all responsibilities, duties, and skills required of personnel so classified. All personnel may be required to perform duties outside of their normal responsibilities from time to time, as needed.

The salary range for this role takes into consideration a wide range of factors including but not limited to the duties of the role, experience, location, and certificates and/or education.

University Bank is an Equal Opportunity / Affirmative Action Employer