Mortgage collector vs mortgage processor

Differences between mortgage collector and mortgage processor duties and responsibilities

Mortgage collector example 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.

Mortgage processor example responsibilities.

• Manage applicant s mortgage applications from origination to closing, ensuring service excellence and adhering to federal and compliance guidelines
• Function in processing role for streamline first market mortgage transactions pursuant to Fannie, Freddie, VA and FHA policy guidelines.
• Support FNMA portfolio loans in default and imminent default loans with a focus on loan modifications.
• Work directly with FNMA counselors to negotiate mortgage terms for the homeowner that will prevent foreclosure.
• Comply with bank, investor and regulatory guidelines while having a strong understanding of RESPA, HDMA, and ECOA guidelines.
• Generate accurate RESPA require disclosures.
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