KeyBank Senior Specialist- (Single Point of Contact- Loss Mitigation Team) in Amherst, New York
Senior Specialist- (Single Point of Contact- Loss Mitigation Team)inAmherst, NYatKeyBank
Date Posted: 10/17/2020
Employee Type: Full-Time
Location: 4224 Ridge Lea Road Amherst, NY
Date Posted: 10/17/2020
Headquartered in Cleveland, Ohio, KeyCorp (Key) is one of the nation s largest financial services companies. Key provides investment management, retail and commercial banking, consumer finance and investment banking products to individuals and companies throughout the United States and, for certain businesses, internationally.
Our goal is to be the best regional bank in the U.S. What that means is we put our clients needs first and take a customized approach to meeting those needs. At Key we ve made a promise to our clients that they will always have a champion in us. To deliver on that promise, we re committed to building a team of engaged employees who do the right thing for our clients and help them achieve their financial goals each and every day.
Please note typical work schedule is 10 a.m. - 7 p.m. Monday - Friday and additional hours as needed. Schedule is subject to change based on business need.
This position is responsible for acting as the Single Point of Contact (“SPOC ) throughout the loss mitigation process, from package collection through decision and closing. Primary job responsibilities include receiving all written and verbal borrower assistance packages received by the loss mitigation department and reviewing for completeness, ushering the customer through the loss mitigation process start to finish, as well generating required letters to the borrower based on regulatory or state requirements. This position will also be responsible for assisting management with projects and training new employees.
Maintain contact with borrower to ensure they understand the current status of their loan workout application, available options, and next steps; remain the "Single Point of Contact" throughout the loss mitigation, loan modification and foreclosure process.
Initiates outbound contact with borrowers and completes financial interviews to determine "reason for default", borrower intent, financial ability to repay debt, and to identify potential loss mitigation options/solutions.
Balance multiple priorities and tasks such as inbound/outbound phone calls, letter generation, trial payment and document tracking.
Answer inbound phone inquiries from borrowers regarding the status of loss mitigation, modification, short sales and foreclosure process.
Assists customers that are in a loan default situation to find solutions to maintain home ownership or to identify and discuss property liquidation options when a modification is not appropriate.
Works with foreclosure department to ensure dual tracking does not occur.
Knowledge and understanding of mortgage and title documents, credit reports, appraisals, default servicing, loan default legal process and legal terminology.
Expected to engage, understand and advise borrowers of available options to resolve real estate secured and unsecured delinquency and submit required information to underwriting team to obtain approval of eligible workout options.
Makes a diligent effort to obtain the necessary documents from the customer when package is incomplete in an effort to complete the application and submit for underwriter review. Handle all customer emails and voice mails that are assigned
Access information in multiple systems to inform borrowers of loan workout terms, important dates and deadlines. Follow-up with borrower to get loan modification agreements signed and closed.
Work with borrower to obtain broker information for short sale process.
Provide information to borrower concerning escalation/complaint procedures and process per CFPB guidelines.
Follows up with mortgagors, authorized 3rd parties, or internal council to ensure timely receipt of executed modification documents.
Efficiently handle a variety of customer inquiries, via phone call and written correspondence, regarding the customer's loan.
Become a "subject matter expert" (SME) on Real-estate secured and unsecured loss mitigation options and qualification requirements.
Minimize call escalations by gaining our customer's trust and keeping our promises.
Prioritize quality and efficiency in resolving customer issues.
Ensures compliance with all applicable federal and state laws, regulations, investor requirements and CFPB Servicing Guidelines.
Maintains appropriate records and documents the system of record in order to preserve a history of actions taken or denied.
Monitor for and process Trial Payments
Operate as a loss mitigation/SPOC SME and operate as a mentor to other peers.
Taking escalated calls from Peers and following-up with customers with escalated issues to identify root causes, and using problem-solving skills to resolve the issues.
Work with Legal and Compliance to review and gather requested information for Executive Client Resolutions
Reviewing and responding to internal/external escalations bring questions and potential issues to resolution
Responsible for training new hires
Perform call monitoring/scoring and deliver to manager for informal coaching/review as needed
Act as SME within the change control process for procedure review and implementation
May assist with the “on-the-job training process, conduct loss mitigation training sessions, assess new hires, identify additional training needed, report training progress and completion to management, and maintain training materials
Manage medium range loss mitigation process improvement or new projects
Oversight of loss mitigation exceptions to ensure remediation is completed timely
Other duties may be assigned.
A combined 4 years higher education and/or work experience, including a minimum of 2 year Real Estate collections, Single Point of Contact or Loss mitigation experience.
Excellent communication and customer service skills
Strong working knowledge of conventional and government mortgage loan documents, including overall processes and inter-relationships, standards and requirements, terminology, compliance and regulatory requirements related to federal debt collection laws, Federal Bankruptcy Laws, and proper handling of other legal situations.
Knowledge of Standard Operating Procedures, CFPB, FCRA and FDCPA preferred.
Ability to work in a sometimes emotionally demanding role that requires patience and professionalism while interacting with consumers experiencing financial and emotional stress.
Strong project management, interpersonal, and problem-solving skills.
Highly organized and detail oriented; ability to evaluate and audit a high volumes of files.
Work in a fast-paced, department-metrics-driven environment required. Advanced math skills required.
Ability to work effectively in a team-oriented environment as well as independently.
Ability to pay attention to detail while handling a high volume of work with multiple interruptions.
Ability to work under tight deadlines and with minimal supervision, while obtaining superior results.
Strong PC skills. Must be proficient in MS applications- Windows, Outlook, Office Suite, MS Excel, PowerPoint
Effective interpersonal and communication (written and verbal) skills.
Effective project management skills and the ability to proactively problem-solve.
Professional demeanor and interaction with all customers (internal and external).
Any equivalent combination of education, experience, and training that provides the required knowledge, skills, and abilities.
KeyCorp is an Equal Opportunity and Affirmative Action Employer committed to engaging a diverse workforce and sustaining an inclusive culture. All qualified applicants will receive consideration for employment without regard to race, color, religion, sex, sexual orientation, gender identity, national origin, disability, or veteran status.