How to Become a Mortgage Collection Manager
Step 1: Understand the job description and responsibilities of a Mortgage Collection Manager
What does a Mortgage Collection Manager do?
A Mortgage Collection Manager manages a team of collectors and supervisors who limit collection portfolio losses and delinquencies. Trains and staffs collection associate team. Being a Mortgage Collection Manager evaluates delinquent loans and determines foreclosure status. May assist in developing strategies to limit foreclosures, repossessions, etc. Requires a bachelor's degree. Additionally, Mortgage Collection Manager typically reports to a director. The Mortgage Collection Manager manages subordinate staff in the day-to-day performance of their jobs. True first level manager. Ensures that project/department milestones/goals are met and adhering to approved budgets. Has full authority for personnel actions. To be a Mortgage Collection Manager typically requires 5 years experience in the related area as an individual contributor. 1-3 years supervisory experience may be required. Extensive knowledge of the function and department processes.
Banking, credit and other investment managers plan, organize, direct, control and evaluate the activities of financial establishments or operational departments within such establishments, or credit departments in industrial.
Do you enjoy negotiating, solving problems, and providing excellent customer service? We need enthusiastic and success-driven telephone professionals to join our Collections team.
If selected, you’ll work in our fast-paced call center, locating and contacting homeowners across the country to collect past-due mortgage payments.
You’ll create a positive customer experience for every homeowner by identifying their issues and developing practical payment solutions that help them get current in their mortgage payments.
With the current tsunami of foreclosures in countries such as the USA, many homeowners are being intimidated by the Collections Departments at the various banks and mortgage companies.
Step 2: Learn best tips to become a Mortgage Collection Manager
Best tips for those who want to become a Mortgage Collection Manager
Here are some tips to become a Mortgage Collection Manager.
Step 3: View best colleges and universities for Mortgage Collection Manager
Best colleges and universities for Mortgage Collection Manager
- Florida Southern College
- Colby College
- Dartmouth College
- University of Notre Dame
- Western Washington University
- Canisius College
Step 4: Think about whether is it worth to be a Mortgage Collection Manager
Is being a Mortgage Collection Manager Worth it?
Provide detailed reporting and analysis on collections efforts, trends and issues.
3-5 years of direct experience in credit and collections; knowledgeable in sales, negotiation and persuasion tools.
As the Resident Project Supervisor, you will work under direction of a Project Manager and provide field supervisory support to the general contracto….
Work directly with customers, relationship managers, and legal counsel regarding workouts and/or liquidation of assets.
Maintain the billing and collection for all mortgage related fee income lines of business.
Step 5: Prepare relevant skills for being a Mortgage Collection Manager
What skills do you need to be a Mortgage Collection Manager?
Management is no easy task, and as such, the skill requirements for these types of roles vary greatly. Chief skills for this role are: Staff Training, Loan Collections . You would need to be proficient in the following: Banking Software, Credit and Collections Software. Expertise in these areas will help you land this, or a similar role.
Experience with conforming conventional mortgage loans.
Partner with the RPFI Manager in supporting the RPFEs in developing content area skills and in their engagement with ROs.
Knowledge and understanding of mortgage loan operations in a high volume environment.
Experience managing in a mortgage related environment.
Do you have a background in construction with experience in customer support, scheduling, collections or….
Step 6: View average salary for Mortgage Collection Manager
How much does a Mortgage Collection Manager make?
The average salary range for a Mortgage Collection Manager is from $74,803 to $105,715. The salary will change depending on your location, job level, experience, education, and skills.
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Average salary for Mortgage Collection Manager jobs
Step 7: Find relevant Mortgage Collection Manager jobs, and apply.
Looking for Mortgage Collection Manager jobs?
Here are some Mortgage Collection Manager jobs in the United States.