Sr. Homeowners Assistance Counselor at Fifth Third Bank

Cincinnati, Ohio, United States

Apply Now

Not SpecifiedCompensation

Senior (5 to 8 years)Experience Level

Full TimeJob Type

UnknownVisa

Banking, Financial ServicesIndustries

Requirements

High School Diploma or equivalent
Minimum two years collection, support or related customer service experience
Loss Mitigation experience is preferable but not required
Knowledge of basic mortgage default timelines/procedures (bankruptcy/escrow/foreclosure)
Knowledge of bank-owned, investor & insurer guidelines for the mortgage and consumer companies
Required to know & adhere to FDCPA/Privacy Act/state laws as well as other bank policies in regards to collection guidelines
Excellence in consulting (incomplete in description, but listed as required)

Responsibilities

Utilize in-depth knowledge of loss mitigation options to manage a portfolio of accounts in late stages of delinquency (approaching charge-off status)
Pursue communication with defaulted customers utilizing manual dialing to offer potential workout alternatives
Contact delinquent customers to 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 the appropriate loss mitigation option that maximizes customer satisfaction and investor return
Review, negotiate and recommend action on requests for proposed foreclosure or repossession alternatives within the timeframes established by management
Identify, evaluate and resolve reasons for delinquency
Explain all workout options within company/investor/insurer guidelines and know the requirements of each
Skip tracing accounts for possible leads to locate and contact customers
Quoting reinstatement amounts, payoffs, and setting up repayment plans within the system
Pursue resolution on referrals of non-delinquent customers who request alternatives to allow ownership retention
Ensure that all requested documentation has been received by the customer
Monitor all accounts associated with Soldiers and Sailors Act to ensure compliance with all guidelines
Record all collection efforts via the collection system
Recommend additional actions with management assistance on delinquent accounts
Escalate calls and/or problem accounts to supervisor, repossession, legal or collection agencies as appropriate
Provide feedback to management for ideas on process improvement and suggestions for the specialty collections unit
Assist with training of new hires
Initiate contact and provide assistance to consumer and mortgage loan customers who are in default; counsel and guide the customer to achieve workout alternatives based upon customer's circumstances while complying with all investor, company, federal and insurer guidelines
Manage outbound loss mitigation efforts on asset loans approaching charge-off status
Work to minimize potential losses on delinquent loans by contacting borrowers &/or their agents, mortgage brokers, real estate agents, title companies, attorneys, investors and insurers to work toward resolution of the delinquency in accordance with departmental and legal guidelines

Skills

Loss Mitigation

Customer Counseling

Delinquency Management

Forbearance Plans

Repayment Plans

Collection Calls

Risk Assessment

Mortgage Servicing

Manual Dialing

Workout Alternatives

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.

Land your dream remote job 3x faster with AI

Try Jobo Free