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GENERAL FUNCTION: Under moderate supervision Specialist will work with borrowers, mortgage brokers, investors, title companies, attorneys, investors, insurers and real estate agents, in an attempt to mitigate foreclosure/REO avoidance/losses. The specialist works to minimize potential in accordance with departmental, investor, insurer and legal guidelines. The specialist will determine, recommend and follow to conclusion, the most feasible and best option for the customer and investor and/or 5/3 Bank. Position has direct impact to Bank losses in excess of $200 million annually.
Responsible and accountable for risk by openly exchanging ideas and opinions, elevating concerns, and personally following policies and procedures as defined. Accountable for always doing the right thing for customers and colleagues, and ensures that actions and behaviors drive a positive customer experience. While operating within the Bank’s risk appetite, achieves results by consistently identifying, assessing, managing, monitoring, and reporting risks of all types.
DUTIES & RESPONSIBILITIES:
- Analyze the borrower's financial statements, tax returns, credit reports, etc. and recommend the best alternative to the customer.
- Negotiate and Pre-approve workouts.
- Prepares appropriate settlement documents and approval forms.
- Explains workout options to borrower.
- Researches accounts when applicable.
- Skip trace accounts.
- Quotes reinstatement amounts, payoffs, and setting up repayment plans within the system.
- Receives and routes proceeds checks to ensure proper handling and loan pay off.
- Process foreclosure holds.
- Corresponds with borrower on deal approvals or denials.
- Updates records to ensure that the customer has received the appropriate assistance, and that Fifth Third Bank has knowledge of the location and condition of the collateral.
- Facilitates contract negotiations in the sale of Real Estate.
- Provides extensive loss analysis and recommendations for loan workout as related to all aspects of loss mitigation.
- Assists in the control of company expenses related to foreclosure and the repossession of collateral.
- Arranges for contractual services relating to property inspections, appraisers, real estate agents, etc., as needed.
- Reviews and analyzes title searches, asset searches, and customer records.
- Collection/demand calls to borrowers and brokers as required.
- Ensures system is properly updated for monthly reporting.
- Performs other duties as assigned by the management team.
SUPERVISORY RESPONSIBILITIES: None
KNOWLEDGE & SKILLS REQUIRED:
- High School Diploma or equivalent.
- Minimum 2 years Collections or Default Servicing experience.
- Intermediate proficiency level in Microsoft Word and Excel.
- Excellent verbal and written communication.
- Understanding of collections and default servicing practices. Foreclosure, bankruptcy and REO experience preferred.
- Ability to evaluate a customer's situation without judgment.
- Excellent customer service skills with both external and internal customers.
- Required to know & adhere to FDCPA / Privacy Act / state laws as well as other bank policies and investor requirements in regards to collection guidelines.
- Experience analyzing financial statements, tax returns, credit reports, home appraisals, title searches and other documents.
- Knowledge in reviewing/interpreting credit bureau reporting, settlement statements, title policies and real estate listing & purchase agreements.
- Strong organizational skills and attention to detail.
- Ability to work independently with minimal supervision.
- Strong analytical, problem solving and mathematical skills to be used in financial counseling and evaluation and interpretation of complex information.
- Ability to work overtime as needed.
- Strong negotiating and follow-up skills, and the ability to meet deadlines.
- Must be able to work in a team environment to interact with employees and all levels of the organizations.
Homeowners Assistance Specialist I - Mortgage
At Fifth Third, we understand the importance of recognizing our employees for the role they play in improving the lives of our customers, communities and each other. Our Total Rewards include comprehensive benefits and differentiated compensation offerings to give each employee the opportunity to be their best every day.
The base salary for this position is reflective of the range of salary levels for all roles within this pay grade across the U.S. Individual salaries within this range will vary based on factors such as role, relevant skillset, relevant experience, education and geographic location. In addition to the base salary, this role is eligible to participate in an incentive compensation plan, with any such payment based upon company, line of business and/or individual performance.
Our extensive benefits programs are designed to support the individual needs of our employees and their families, encompassing physical, financial, emotional and social well-being. You can learn more about those programs on our 53.com Careers page at: https://www.53.com/content/fifth-third/en/careers/benefits.html or by consulting with your talent acquisition partner.
LOCATION - Cincinnati, Ohio 45227
Attention search firms and staffing agencies: do not submit unsolicited resumes for this posting. Fifth Third does not accept resumes from any agency that does not have an active agreement with Fifth Third. Any unsolicited resumes – no matter how they are submitted – will be considered the property of Fifth Third and Fifth Third will not be responsible for any associated fee.
Fifth Third Bank, National Association is proud to have an engaged and inclusive culture and to promote and ensure equal employment opportunity in all employment decisions regardless of race, color, gender, national origin, religion, age, disability, sexual orientation, gender identity, military status, veteran status or any other legally protected status.
