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Loan Counselor
PennyMac
Moorpark, CA, United States
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Job Description
The Loan Counselor’s primary responsibility is to address customer inquiries/requests, and resolve complex delinquent accounts in order to achieve department objectives. The Loan Counselor minimizes losses to the company and accurately document accounts in accordance with Fair Debt Collection Practices Act [FDCPA], state and federal regulatory guidelines, and company policies and procedures.
• Receive inbound calls from delinquent borrowers
• Make outbound Collection Calls
• Make outbound Loss Mitigation Solicitation Calls
• Contact delinquent borrowers in order to determine reason for delinquency, update application data, secure current financial information, and obtain commitments for repayment or determine best resolution to mitigate losses.
• Maintain call control by overcoming objections; utilizing motivators and listening skills to bridge communication gap with the borrower.
• Initiate workout programs to prevent foreclosures, analyze mortgagor’s financial statements, evaluate debt ratios, review mortgagor’s payment record and educate borrowers on alternative money sources/payment options to bring loan current. Work with borrower to reach a solution.
• Perform skip tracing on all no-contacts utilizing (application data), internet skip tracing WEB sites, fact finding with third parties and determining best time to call.
• Interact with other PennyMac servicing departments and external entities to provide excellent customer service and resolve delinquencies.
• Recommend Loss Mitigation referrals upon reviewing breach validation, and, analyze feasibility of short sale or long term repayment plan to mitigate losses.
Preferred Qualifications
• HS Diploma or Equivalent
3+ years minimum experience
Working knowledge of collection practices and laws, loss mitigation, foreclosure, and bankruptcy laws.
Thorough knowledge of FDCPA regulations
• Strong internal and external customer service skills, including professional telephone manner and ability to write short business correspondence
• Ability to work on and track multiple tasks and priorities
• Ability to work competently and professionally under tight, frequent deadlines and adhere to timelines
• Ability to gather information, analyze and solve complex issues
• Personal computer knowledge, including proficiency in Word and Excel
• Detail oriented with good organizational and follow-through skills
• Strong negotiation skills with ability to effectively resolve problems and conflict and resolve problems effectively.
• Ability to make decisions independently within set policy and procedures.