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:

• Early Delinquency Management:
• Payment reminders before due dates.
• Grace period (as per loan terms).
• Contact strategy: Calls, emails, letters.
• 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.
• Payment Plans & Loss Mitigation:
• Loan modifications, forbearance, short sales, deed-in-lieu.

Recovery Process for the Collections & Recoveries Manager Role:

• Foreclosure Process:
• Initiation after 90+ days past due (varies by jurisdiction).
• Legal notices and compliance with foreclosure laws.
• Judicial vs. non-judicial foreclosure process.
• Property Liquidation:
• Auction, REO (Real Estate Owned) sales, third-party sales.
• Deficiency balance collection (if applicable).
• 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.