• Default Counselor

    Posted: 06/24/2024

    RIHousing – Default Counselor
    Salary Range - $48,830.80 - $70,661.04

    RIHousing is committed to creating a diverse environment and is proud to be an equal-opportunity employer. All qualified applicants will receive consideration for employment without regard to race, color, religion, gender, gender identity or expression, sexual orientation, national origin, genetics, disability, age, or veteran status.

    What it’s all about:
    This position is accountable for mortgage counseling and collections through foreclosure to ensure minimal risk exposure to Rhode Island Housing.

    What you’ll do on a daily basis:        
    This position works with borrowers who are behind on their mortgage payments and provides counseling to help them avoid default or more serious legal action through outreach via phone, written communication, and face-to-face counseling to achieve quality right-party contact and determine the reason for default.
    The incumbent performs various mortgage counseling, collections, and research functions on a daily basis, as follows:
    Assists in administering the collections process in compliance with internal policies, regulatory guidelines, sub-servicer requirements, and investor requirements, including delinquency reporting to appropriate investor and insurer.
    Contacts delinquent borrowers, provides counseling, cures defaults, and makes referrals to appropriate staff for loan workout or foreclosure action; as such incumbent must be knowledgeable of the Consumer Finance Protection Bureau (CFPB) regulations regarding Quality Right Party Contact (QRPC).
    Refers borrowers to external financial or counseling resources as needed.
    Initiates requests for financial hardship documentation and arranges repayment or forbearance plans in accordance with internal policies, regulatory guidelines, and investor requirements.
    Initiates delinquency notices and demand letters, performs skip tracing and property inspections as needed.
    Maintains and documents all appropriate communication with the borrower using the customer contact log and monitors the status of assigned loans via the delinquency reporting queue.
    Resolves lost payments, researches problem cases, reviews requests for late charge waivers and communicates with credit repositories as assigned; as such, the incumbent must be knowledgeable of CFPB customer complaint tracking requirements and have experience using de-escalation techniques when dealing with customer complaints.
    Processes one-time electronic and non-electronic payments as requested by the borrower.
    The incumbent also assists customer service with problems or questions regarding delinquent loans and tracks progress and monitors delinquent trends. The incumbent may also be called upon to assist with communicating loss mitigation options prior to referral to loss mitigation for review and underwriting, identifying defaulted loans for potential referral to legal counsel, as well as assist with the Home Secure Program outreach and tracking.

    What you’ll bring to the team:

    • Assists in administering the collections process in compliance with internal policies, regulatory guidelines, sub-servicer requirements, and investor requirements.
    • On a daily basis, contacts delinquent borrowers, provides counseling, and cures defaults to ensure minimal risk exposure to RIHousing and sub-servicing portfolio(s).
    • Processes one-time electronic and non-electronic payments
    • Maintains and documents communication using the customer contact log and monitors the status of assigned loans via the delinquency reporting queue
    • Is knowledgeable of CFPB regulations, including QRPC and customer complaint tracking requirements
    • Assists customer service, monitors delinquent loans, and provides support in performing special projects as assigned
    • This position requires some nights and Saturdays.
    What you’ll need to succeed:
    • Three years of experience in mortgage collections and or customer service
    • Knowledge of CFPB, FNMA, FHA, VA, and USDA regulations, as well as private mortgage insurer guidelines
    • Strong negotiation, communication, and organizational skills
    • Associate’s degree in business administration or related field; and or equivalent work experience required
    • Bilingual ability preferred (particularly Spanish or Portuguese)
    • Use of personal vehicle, valid driver’s license, and proof of insurance is required.
    Not sure you meet all the qualifications? Let us decide! 
    Why RIHousing:
    • Mission-Driven Organization
    • Dedicated Workforce
    • Competitive salary
    • Parking Stipend
    • Medical/Dental/Vision/Life Insurance
    • Paid Time Off
    • Retirement Options
    • Flexible Work Hours
    • If Position Eligible, Future Hybrid Work May Be Available
    • Education Reimbursement
    • Onsite Fitness Classes
    • Volunteer Days
    • Winner of “Best Places to Work” 2016, 2018, 2019, 2021, 2022, 2023 & 2024
    • PBN’s Worksite Health Award 2013-2023
    • PBN’s Diversity Equity Inclusion Award 2023
    RIHousing strives to ensure that all people who live or work in Rhode Island can afford a healthy, attractive home that meets their needs.  A good home provides the foundation upon which individuals and families thrive, children learn and grow, and communities prosper.
     To achieve our mission, we:
    • Offer fair, affordable, and innovative lending programs.
    • Provide housing-related education to consumers and others.
    • Promote and finance sensible development that builds healthy, vibrant communities.
    • Provide housing grants and subsidies to Rhode Islanders with the greatest need.
    • Team up with partners to improve everything we do.
    RIHousing uses its resources to provide low-interest loans, grants, education, and assistance to help Rhode Islanders find, rent, buy, build, and keep a good home. Created by the General Assembly in 1973, RIHousing is a privately funded public purpose corporation. RIHousing requires its employees to be highly motivated and knowledgeable, have a sound understanding of the changing needs of Rhode Island's housing market, be willing to work within and toward a smoothly integrated operation, demonstrate a commitment to serve the people of Rhode Island, especially those with low and moderate incomes in need of safe and affordable homes, and possess a high level of integrity and deep respect for all Rhode Islanders, including customers, partners and fellow employees.

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