RIHousing – Default Counselor
Salary - $53,414.00 - $66,767.00
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. Outreach is conducted 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 daily, as follows:
Assist in administering the collections process in compliance with internal policies, regulatory guidelines, sub-servicer requirements, and investor requirements, including delinquency reporting to appropriate investors and insurers.
Contact delinquent borrowers to provide counseling, cure defaults, and make referrals to appropriate staff for loan workouts or foreclosure action; as such, the incumbent must be knowledgeable of the Consumer Financial Protection Bureau (CFPB) regulations regarding Quality Right Party Contact (QRPC).
Refer borrowers to external financial or counseling resources as needed.
Initiate requests for financial hardship documentation and arrange repayment or forbearance plans in accordance with internal policies, regulatory guidelines, and investor requirements.
Initiate delinquency notices and demand letters, and perform skip tracing and property inspections as needed.
Maintain and document all appropriate communication with the borrower using the customer contact log, and monitor the status of assigned loans via the delinquency reporting queue.
Resolve lost payments, research problem cases, review requests for late charge waivers, and communicate 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.
Process 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, tracks progress, and monitors delinquent trends. The incumbent may also be called upon to assist with communicating loss mitigation options before referral to loss mitigation for review and underwriting, identifying defaulted loans for potential referral to legal counsel, as well as assisting with the Home Secure Program outreach and tracking.
What you’ll bring to the team:
- Is knowledgeable of CFPB regulations, including QRPC and customer complaint tracking requirements
- Assist customer service, monitor delinquent loans, and provide 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 a personal vehicle, a valid driver’s license, and proof of insurance is required.
Not sure if you meet all the qualifications? Let us decide!
Why RIHousing:
- Mission-Driven Organization
- Dedicated Workforce
- 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 – 2025
- Greater Providence Chamber of Commerce Worksite Health Award 2013 – 2025
- PBN's Healthiest Employers of RI 2025
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.