How to hire a mortgage collector

How to hire a mortgage collector, step by step

Here's a step-by-step mortgage collector hiring guide:

• Step 1: Identify your hiring needs
• Step 2: Create an ideal candidate profile
• Step 3: Make a budget
• Step 4: Write a mortgage collector job description
• Step 5: Post your job
• Step 6: Interview candidates
• Step 7: Send a job offer and onboard your new mortgage collector
• Step 8: Go through the hiring process checklist

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1. Identify your hiring needs

   First, determine the employments status of the mortgage collector you need to hire. Certain mortgage collector roles might require a full-time employee, whereas others can be done by part-time workers or contractors.

   Determine employee vs contractor status

   Is the person you're thinking of hiring a US citizen or green card holder?

   Yes

   No

   A mortgage collector's background is also an important factor in determining whether they'll be a good fit for the position. For example, mortgage collectors from different industries or fields will have radically different experiences and will bring different viewpoints to the role. You also need to consider the candidate's previous level of experience to make sure they'll be comfortable with the job's level of seniority.

   The following list breaks down different types of mortgage collectors and their corresponding salaries.

   Type of Mortgage Collector	Description	Hourly rate
   Mortgage Collector	Bill and account collectors, sometimes called collectors, try to recover payment on overdue bills. They negotiate repayment plans with debtors and help them find solutions to make paying their overdue bills easier.	$14-20
   Account Representative	Account representatives are employees who manage client accounts and act as the main contact of the clients they are handling. They maintain existing accounts by updating client details regularly... Show more	$12-24
   Collections/Accounts Receivable	An officer for collections/accounts receivable is in charge of a company's financial activities, ensuring that they receive payment from clients. They primarily focus on overseeing all billing and invoices, processing and verifying all receipts and rendered services, maintaining an accurate record of all transactions, producing reports and presentations, reviewing account and payment histories, and ensuring the accuracy of all processes involving the matter... Show more	$14-23

   Show more

2. Create an ideal candidate profile

   Common skills:

   • Customer Service
   • Payment Arrangements
   • Loss Mitigation
   • Foreclosure Process
   • FDCPA
   • Loan Modifications
   • Inbound Calls
   • Outbound Calls
   • Debt Repayment
   • Past Due Accounts
   • Lieu
   • Mortgage Payments
   • Mortgage Collections
   • FHA

   Check all skills

   Responsibilities:

   • Manage re-billings for third party accounts including: commercial carriers, manage care, PPO, POS and HMO organizations.
   • Follow rules and regulations of the FDCPA to ensure all transactions are done within the proper guidelines.
   • Answer any billing questions or issues regarding the account using knowledge of the FDCPA laws and light skip tracing.
   • Develop effective partnerships with non-profit organizations and community developments to improve origination of affordable housing loans for first time home buyers.
   • Prepare financial paperwork and set up ACH and credit card for recurring payments.
   • Resolve mortgage/car/home equities and over draft accounts.

3. Make a budget

   Including a salary range in your mortgage collector job description is a great way to entice the best and brightest candidates. A mortgage collector salary can vary based on several factors:

   • Location. For example, mortgage collectors' average salary in west virginia is 37% less than in connecticut.
   • Seniority. Entry-level mortgage collectors earn 26% less than senior-level mortgage collectors.
   • Certifications. A mortgage collector with a few certifications under their belt will likely demand a higher salary.
   • Company. Working for a prestigious company or an exciting start-up can make a huge difference in a mortgage collector's salary.

   Average mortgage collector salary

   $36,748yearly

   $17.67 hourly rate

   ---

   Entry-level mortgage collector salary

   $31,000 yearly salary

   Updated January 30, 2026

4. Writing a mortgage collector job description

   A mortgage collector job description should include a summary of the role, required skills, and a list of responsibilities. It's also good to include a salary range and the first name of the hiring manager. To help get you started, here's an example of a mortgage collector job description:

   Mortgage collector job description example

   First National Bank of America is seeking customer focused candidates to contact our borrowers regarding their past due mortgage accounts. We are willing to train candidates with exceptional communication skills as well as customer service skills, regardless of their prior work experience. A successful Mortgage Collector will be goal-driven and can thrive in a fast paced environment, contributing as a valued member of the team. We can offer a flexible part-time schedule of both day and evening hours.
   
   As a Mortgage Collector, you work together with a group of people committed to helping our customers. This means you will be handling many different situations that will require your great customer service skills.
   
   At FNBA, we set out to be an exceptional bank and practice the culture, "Work hard, have fun and prosper". As a result, you'll find a positive work environment that is remarkable and unlike any other banking services company. If you are looking for a family-owned business that could become like your family, please apply today!
   
   Compensation includes an hourly wage plus the opportunity to earn monthly incentive pay based on results.
   Bilingual (Spanish/English) required.
   
   Job Type: Full-Time and Part-Time
   
   Location: On-site in our East Lansing, MI office
   
   *Remote is not available
   
   Responsibilities:
   
   Job responsibilities include:
   • Initiating and receiving incoming and outgoing phone calls
   • Establishing repayment schedules
   • Facilitating receipt of payments via ACH and other methods
   • Confirming data on the customer's account
   • Achieving the departmental delinquency goals
   
   Qualifications:
   
   Full-Time Employee benefits
   
   Medical - Multiple plans to choose from including HSA and traditional. Premiums as low as $0.00
   Dental - Premiums as low as $0.00
   Vision - Low premium Plan
   Paid Time Off (PTO)
   401k with employer match
   Adjustable desks that can be raised or lowered to sit or stand
   
   *Part-Time employee's do not qualify for all of the benefits listed
   
   First National Bank of America recognizes that the quality of our people is the foundation for our success. Attracting exceptional individuals who value a challenging work environment that rewards the contributions of its people is the cornerstone of our hiring philosophy.
   
   Note: These statements are intended to describe the general nature and level of work involved for this job. It is not an exhaustive list of all responsibilities, duties, and skills required for this job.
   
   First National Bank of America is an Equal Opportunity Employer.

   Copy this example

   

5. Post your job

   There are a few common ways to find mortgage collectors for your business:

   • Promoting internally or recruiting from your existing workforce.
   • Ask for referrals from friends, family members, and current employees.
   • Attend job fairs at local colleges to meet candidates with the right educational background.
   • Use social media platforms like LinkedIn, Facebook, and Twitter to recruit passive job-seekers.

   Post your job online:

   • Post your mortgage collector job on Zippia to find and attract quality mortgage collector candidates.
   • Use niche websites such as efinancialcareers, financialjobsweb.com, careerbank, financial job bank.
   • Post a job on free websites.

6. Interview candidates

   To successfully recruit mortgage collectors, your first interview needs to engage with candidates to learn about their interest in the role and experience in the field. You can go into more detail about the company, the role, and the responsibilities during follow-up interviews.

   It's also good to ask about candidates' unique skills and talents. You can move on to the technical interview if a candidate is good enough for the next step.

   The right interview questions can help you assess a candidate's hard skills, behavioral intelligence, and soft skills.

7. Send a job offer and onboard your new mortgage collector

   Once you've found the mortgage collector candidate you'd like to hire, it's time to write an offer letter. This should include an explicit job offer that includes the salary and the details of any other perks. Qualified candidates might be looking at multiple positions, so your offer must be competitive if you like the candidate. Also, be prepared for a negotiation stage, as candidates may way want to tweak the details of your initial offer. Once you've settled on these details, you can draft a contract to formalize your agreement.

   It's also important to follow up with applicants who do not get the job with an email letting them know that the position is filled.

   Once that's done, you can draft an onboarding schedule for the new mortgage collector. Human Resources should complete Employee Action Forms and ensure that onboarding paperwork is completed, including I-9s, benefits enrollment, federal and state tax forms, etc. They should also ensure that new employee files are created for internal recordkeeping.

8. Go through the hiring process checklist

   • Determine employee type (full-time, part-time, contractor, etc.)
   • Submit a job requisition form to the HR department
   • Define job responsibilities and requirements
   • Establish budget and timeline
   • Determine hiring decision makers for the role
   • Write job description
   • Post job on job boards, company website, etc.
   • Promote the job internally
   • Process applications through applicant tracking system
   • Review resumes and cover letters
   • Shortlist candidates for screening
   • Hold phone/virtual interview screening with first round of candidates
   • Conduct in-person interviews with top candidates from first round
   • Score candidates based on weighted criteria (e.g., experience, education, background, cultural fit, skill set, etc.)
   • Conduct background checks on top candidates
   • Check references of top candidates
   • Consult with HR and hiring decision makers on job offer specifics
   • Extend offer to top candidate(s)
   • Receive formal job offer acceptance and signed employment contract
   • Inform other candidates that the position has been filled
   • Set and communicate onboarding schedule to new hire(s)
   • Complete new hire paperwork (i9, benefits enrollment, tax forms, etc.)

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