Collections & Recoveries Manager

Collections & Recoveries Manager – Mortgage Secured Lending

Up to £40,000 Base Salary,

Newcastle

The Collections & Recoveries Manager Role:
Outlines the process for collecting overdue mortgage payments and recovering properties in case of default, ensuring compliance and minimizing losses.

Collections Process for the Collections & Recoveries Manager Role:

1. Early Delinquency Management:
   • Payment reminders before due dates.
   • Grace period (as per loan terms).
   • Contact strategy: Calls, emails, letters.
2. Delinquency Stages:
   • 1-30 Days: Soft collections, borrower engagement, late fee application.
   • 31-60 Days: Escalated contact, loss mitigation options (e.g., forbearance, loan modification).
   • 61-90 Days: Pre-foreclosure notices, credit reporting, legal warning.
3. Payment Plans & Loss Mitigation:
   • Loan modifications, forbearance, short sales, deed-in-lieu.

Recovery Process for the Collections & Recoveries Manager Role:

1. Foreclosure Process:
   • Initiation after 90+ days past due (varies by jurisdiction).
   • Legal notices and compliance with foreclosure laws.
   • Judicial vs. non-judicial foreclosure process.
2. Property Liquidation:
   • Auction, REO (Real Estate Owned) sales, third-party sales.
   • Deficiency balance collection (if applicable).
3. Post-Foreclosure Recovery:
   • Credit reporting, legal action on unpaid balances.

Compliance & Risk Management for the Collections & Recoveries Manager Role:

• Adherence to CFPB, RESPA, FDCPA, and state foreclosure laws.
• Borrower rights and dispute resolution.
• Internal audits and regulatory reporting.

Reporting & Performance Monitoring for the Collections & Recoveries Manager Role:

• KPIs: Delinquency rates, cure rates, foreclosure timelines, recovery percentages.
• Tech & Automation: Mortgage servicing platforms, AI-driven borrower outreach.

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