The Bilingual (Spanish) Loss Mitigation Single Point of Contact (SPOC) serves as a main point of contact for borrowers facing a financial hardship and requesting loss mitigation assistance by offering support and guidance during the loss mitigation review process.
All functions must be completed within the production and quality standards. Role requires utilization and understanding of multiple servicing systems, applications and reporting. Role requires accuracy and attention to detail, strong organization skills, independent problem solving ability and excellent communication skills. In this role you will be responsible for answering inbound telephone calls from and placing outbound calls to mortgage borrowers that are greater than 31+ days delinquent. Through the course of these conversations, the Sr Collector will gather details surrounding a borrower's current financial situation, arrange payment and/or payment alternatives, create detailed documentation to ensure the Collections process is tracked in an accurate manner, and perform advanced skip tracing responsibilities. The collections team must ensure that critical call center benchmarks are met on a daily basis. Those benchmarks include an average speed of answer of 60 seconds or less, abandonment rate of less than 5 percent and a blockage rate of less than 1 percent. This is reported to investors and the organization. Meeting those benchmarks, making and taking customer phone calls to educate on payment options and reducing delinquency are key components for the collections team to be successful. These benchmarks ensure that the team is in compliance with call center requirements, properly services our customers and investors, and prevents losses in the portfolio.
Job Responsibilities:
Perform Functions of a Loss Mitigation SPOC. Role requires the ability to perform multiple functions throughout the Loss Mitigation SPOC process under general supervision, including:
Communicate directly with the borrower to explain loss mitigation options, how to apply for assistance, and provide status updates during the review period.
Coordinate the receipt of all necessary documents and notify the borrower of any required documents necessary to complete the application
Timely respond to borrower requests and/or messages
Properly document all borrower communications in Flagstar Bank's system of record
Obtain and evaluate all relevant information to handle inquiries and complaints correctly and in a timely manner
Maintain knowledge of regulatory and investor/insurer requirements and timeframes that may impact default servicing operations.
Understand key performance and risk indicators in the Loss Mitigation Process, and how individual role contributes to meeting or exceeding these goals;
Maintain and practice sound judgment in all aspects of role
Other.
Reinforces culture of shared ownership and accountability for results.
Collaborating with other default servicing teams, and other internal teams, to assist in the continued development of a best in class default servicing oversight operation.
Perform additional responsibilities as assigned by manager.
Ensures compliance with applicable federal, state and local laws and regulations. Completes all required compliance training. Maintains knowledge of and adhere to Flagstar's internal compliance policies and procedures. Takes responsibility to keep up to date with changing regulations and policies.
Job Requirements:
Reliable Home High Speed Internet required
HS Diploma, GED or Foreign Equivalent required
At least 1 to 3 years of default mortgage financial services experience, preferred in Loss Mitigation
Self-Driven, Personally Accountable Personality
Understanding of MS Office Suite with intermediate technical and computer skills. Specifically an ability with Microsoft Excel
Ability to navigate quickly within various computer programs.
Excellent verbal and written communication skills, as well as strong listening skills
Exceptional analytical and problem solving skills with an ability to think quickly under pressure.
Ability to handle high production volume and answer customer questions in a timely manner.
Ability to look for ways to improve and promote quality.
Ability to work independently with limited supervision.
Ability to work varying shifts including evenings and weekends.
Willingness to work in a team environment
Confident and efficient work approach with a customer focus
