Homeowners Assistance Counselor. at Fifth Third Bank

Cincinnati, Ohio, United States

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Not SpecifiedCompensation

Junior (1 to 2 years)Experience Level

Full TimeJob Type

UnknownVisa

Banking, Financial Services, MortgageIndustries

Requirements

High School Diploma or equivalent
Minimum two years collection, support or related customer service experience; Loss Mitigation experience preferable but not required
Knowledge of basic mortgage default timelines/procedures (bankruptcy/escrow/foreclosure)
Knowledge of bank-owned, investor & insurer guidelines for mortgage and consumer companies
Knowledge and adherence to FDCPA/Privacy Act/state laws as well as other bank policies regarding collection guidelines
Excellence in consulting and advising customers via telephone and written communication
Excellent customer service skills with both external and internal customers

Responsibilities

Initiate contact and provide assistance to consumer and mortgage loan customers who are in default
Counsel and guide customers to achieve workout alternatives based on their circumstances while complying with investor, company, federal, and insurer guidelines
Minimize potential losses on delinquent loans by contacting borrowers &/or their agents, mortgage brokers, real estate agents, title companies, attorneys, investors, and insurers to resolve delinquencies per departmental and legal guidelines
Pursue communication with defaulted customers using manual dialing to offer workout alternatives and obtain payment commitments
Make collection/demand calls with an account load defined by applicable capacity model
Analyze customer's situation and collateral risk to present alternative solutions including Forbearance Plans, Repayment Plans, Modifications, Assumptions, Pre-foreclosure/Short Sales, and Deed in Lieu
Assist in identifying, negotiating, and pursuing appropriate loss mitigation options to maximize customer satisfaction and investor return
Review, negotiate, and recommend action on requests for proposed foreclosure or repossession alternatives within management timeframes
Identify, evaluate, and resolve reasons for delinquency
Explain all workout options within company/investor/insurer guidelines and know requirements of each
Skip trace accounts for leads to find customer information
Quote reinstatement amounts, payoffs, and set up repayment plans in the system
Pursue resolution on referrals of non-delinquent customers requesting alternatives for ownership retention
Ensure all requested documentation is requested and received from the customer
Monitor accounts associated with Soldiers and Sailors Act for compliance
Record all collection efforts in the collection system
Recommend additional actions on delinquent accounts with Management assistance
Escalate calls and/or problem accounts to supervisor, repossession, legal, or collection agencies as appropriate
Provide feedback to management on process improvement and suggestions for specialty collections unit
Provide administrative support as directed by management
Be responsible and accountable for risk by exchanging ideas, elevating concerns, following policies/procedures, doing the right thing for customers/colleagues, and managing risks within the Bank's risk appetite

Skills

loan counseling

loss mitigation

forbearance plans

repayment plans

loan modifications

short sales

deed in lieu

collections

risk assessment

customer negotiation

mortgage servicing

delinquency management

Fifth Third Bank

Provides banking, loans, and wealth management services

About Fifth Third Bank

Fifth Third Bank offers a variety of financial services, including personal and business banking, loans, mortgages, credit lines, and insurance products. Their services cater to individual consumers, small businesses, and commercial clients, providing comprehensive solutions for managing finances. The bank generates revenue through interest on loans, service fees, and commissions from insurance and investment products. Unlike many competitors, Fifth Third Bank emphasizes community engagement and financial education, providing resources to help clients improve their financial literacy. The goal of Fifth Third Bank is to support clients in achieving their financial objectives while fostering a strong connection with the communities they serve.

Cincinnati, OhioHeadquarters

1858Year Founded

IPOCompany Stage

Social Impact, Financial ServicesIndustries

10,001+Employees

Benefits

Health Insurance

Paid Sick Leave

Paid Holidays

Performance Bonus

Flexible Work Hours

Risks

Rising interest rates may decrease demand for loans and mortgages.

Competition from fintechs like Robinhood threatens Fifth Third's wealth management sector.

Sophisticated cybersecurity threats pose risks to customer data and trust.

Differentiation

Fifth Third Bank offers comprehensive financial solutions for individuals and businesses.

The bank emphasizes community engagement and financial education for client empowerment.

It provides a wide range of insurance products, including life, health, and disability.

Upsides

Increased demand for digital banking boosts Fifth Third Bank's online service offerings.

Partnerships with fintech enhance technological capabilities and customer experience.

Growing interest in sustainable finance attracts environmentally conscious customers.

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