Mortgage specialists manage the process of collection of mortgage loans between the borrower and the credit lender. They primarily deal with queries from both parties regarding mortgage servicing.
A mortgage specialist is involved in working with the collection services and the legal representatives of lenders to ensure that they are notified of possible bankruptcies, foreclosures, delinquencies and other legal matters. They are responsible for researching missing payments, answering customer queries, issuing escrow payments, and dealing with notices of bankruptcy from borrowers.
Communication skills are essential for success within this role as well as good attention to detail, organizational skills and the ability to problem-solve. A mortgage specialist should have a high school diploma at the minimum, in addition to experience dealing with borrowers and credit lenders, and preparing mortgage documentation. Many mortgage companies give preference to applicants who possess a bachelor’s degree in business, accounting or a related field.
The average salary for this role is around C
$40,000 and can be as high as C
$50,000, including annual bonuses.