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Mortgage loan counselor skills for your resume and career

Updated January 8, 2025
3 min read
Quoted experts
Dr. Thomas Dearden Ph.D.,
Kacie Blalock Ph.D.
Below we've compiled a list of the most critical mortgage loan counselor skills. We ranked the top skills for mortgage loan counselors based on the percentage of resumes they appeared on. For example, 19.1% of mortgage loan counselor resumes contained customer service as a skill. Continue reading to find out what skills a mortgage loan counselor needs to be successful in the workplace.

15 mortgage loan counselor skills for your resume and career

1. Customer Service

Customer service is the process of offering assistance to all the current and potential customers -- answering questions, fixing problems, and providing excellent service. The main goal of customer service is to build a strong relationship with the customers so that they keep coming back for more business.

Here's how mortgage loan counselors use customer service:
  • Praised by supervisors and quality assurance coaches for having excellent documentation and customer service ability.
  • Trained in providing excellent customer service and promote goodwill and referral business.

2. FHA

The Federal Housing Administration (FHA) stands for a government agency in the United States that offers housing insurance to FHA-approved lenders who follow certain conditions.

Here's how mortgage loan counselors use fha:
  • Generated required letters to mortgagors and notified the FHA, Veterans Administration, PMI companies and investors of potential foreclosures.
  • Participated in special projects, as needed for investors Fannie Mae, Freddie Mac and FHA loans.

3. Loan Process

Here's how mortgage loan counselors use loan process:
  • Analyze and verify credit worthiness, inform clients of credit deficiency that will affect the loan process.
  • Assigned work to loan processors, aided in verification process, and preparations for closings.

4. Outbound Calls

An outbound call is made by the call center representative to the customers on behalf of the company. Such calls help increase sales and generate revenue for the organization.

Here's how mortgage loan counselors use outbound calls:
  • Call center environment, fast paced, high call volume, inbound and outbound calls.
  • Average 100+ outbound calls per day to delinquent Fannie Mae borrowers.

5. Payment Arrangements

Here's how mortgage loan counselors use payment arrangements:
  • Worked with borrowers to review delinquency patterns and negotiate payment arrangements.
  • Review counselor portfolios, letters and repayment arrangements and make recommendations.

6. Loan Modifications

Here's how mortgage loan counselors use loan modifications:
  • Submitted recommendations for loan modifications, refinancing, and executed procedures for foreclosure and skip tracing.
  • Reviewed analyzed and referred perspective default customers for possible loan modification.

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7. FNMA

Here's how mortgage loan counselors use fnma:
  • Maintained operational working knowledge of FNMA underwriting and servicing guidelines to ensure full departmental compliance and auditor review.
  • Processed FNMA audit/quality control, failed business reports and illogical reports.

8. Escrow

An escrow refers to a third party who holds in their custody money or asset on behalf of other parties involved in a business transaction. Every month a lender deposits an escrow amount of the mortgage into another party's account and handles the insurance premiums plus the estate taxes.

Here's how mortgage loan counselors use escrow:
  • Provided escrow analysis explanations using RESPA regulation guidelines.
  • Advise of Short Sale and Deeds in Lieu preventing foreclosures advise on Escrow.

9. Lieu

Lieu is a word that means in place of, on behalf of, or instead of. That is something that substitutes or replaces another thing. It is used as a synonym for the word "in place of" in a sentence.

Here's how mortgage loan counselors use lieu:
  • Worked on deed in lieu.
  • Offered payment arrangements, Deed In Lieu and short sale options.

10. Fannie MAE

Here's how mortgage loan counselors use fannie mae:
  • Inform borrowers of foreclosure prevention options provided by Fannie Mae.
  • Read and understand desktop underwriter to obtain necessary documentation from the member to meet Fannie Mae eligibility requirements.

11. Mortgage Loan Products

Here's how mortgage loan counselors use mortgage loan products:
  • Received three certificates: The Legal Foundation of Mortgage Banking, Mortgage Loan Products, and Mortgage Banking Theory.
  • Generated new residential mortgage originations and sold various mortgage loan products to existing and potential clients by analyzing their needs.

12. Past Due Accounts

A credit card account in a bank or any other financial association that is past due in payment is called a past due account. Past due account holders are required to recompense their scheduled payments to the bank or their creditor. The more credit account holders are due, the more they are compelled by their lender to make the payment.

Here's how mortgage loan counselors use past due accounts:
  • Collect past due payments on 0-120+ days past due accounts up to the date of foreclosure sale.
  • Locate customers to collect installments, overdue accounts, damage claims, and non-payable checks.

13. Property Inspections

A property inspection is a visual inspection of observable areas of a property and a report on the state of that property. Property inspections get done by qualified experts and trained professionals with experience and an in-depth understanding of property types to tell if a property is up to code. It affects a large percentage of the buying process.

Here's how mortgage loan counselors use property inspections:
  • Reduced delinquency, collected payments, implemented repayment agreements, set up property inspections.
  • Ordered preservation work and/or property inspection according to regulations.

14. Customer Inquiries

Here's how mortgage loan counselors use customer inquiries:
  • Addressed customer inquiries; interpreted and delivered information; proposed suggestions; provided guidance; identified, investigated and negotiated conflicts.
  • Responded to customer inquiries and referrals, analyzed financial and credit data, and advised customers of products/services/pricing policies and guidelines.

15. Inbound Calls

Here's how mortgage loan counselors use inbound calls:
  • Fielded inbound calls and provided mortgage financing options to existing bank customers.
  • Received inbound calls assisting customers with concerns Making payments regarding mortgage accounts Responded to escalated complaints Documented all discussions and correspondence
top-skills

What skills help Mortgage Loan Counselors find jobs?

Tell us what job you are looking for, we’ll show you what skills employers want.

What type of skills will young mortgage loan counselors need?

Dr. Thomas Dearden Ph.D.Dr. Thomas Dearden Ph.D. LinkedIn profile

Assistant Professor of Sociology, Virginia Polytechnic Institute and State University

Indeed, the way we work is changing. The skills that young graduates will need are diverse. Transferable skills and soft skills will certainly be marketable. These include traditional crafts such as communication, but I also think the world expects more empathy from its employees. Young graduates with an understanding of racism, sexism, and environmental responsibility will become increasingly important.

What hard/technical skills are most important for mortgage loan counselors?

Kacie Blalock Ph.D.

Associate Professor; Director, Master of Counseling, Louisiana State University at Shreveport

It is important that counselors are able to effectively take notes and summarize progress, interpret assessments, memorize and recall information, and keep clear yet concise records.
Do you want to know more?
Read more about what experts have to say about mortgage loan counselor

List of mortgage loan counselor skills to add to your resume

The most important skills for a mortgage loan counselor resume and required skills for a mortgage loan counselor to have include:

  • Customer Service
  • FHA
  • Loan Process
  • Outbound Calls
  • Payment Arrangements
  • Loan Modifications
  • FNMA
  • Escrow
  • Lieu
  • Fannie MAE
  • Mortgage Loan Products
  • Past Due Accounts
  • Property Inspections
  • Customer Inquiries
  • Inbound Calls
  • Credit Reports
  • FDCPA
  • Investor Guidelines
  • Financial Analysis
  • Mortgage Loan Applications
  • Financial Data
  • Mortgage Accounts
  • HUD
  • Collection Calls
  • Conventional Loans
  • Collection Efforts
  • Regulatory Guidelines
  • Sales Process

Updated January 8, 2025

Zippia Research Team
Zippia Team

Editorial Staff

The Zippia Research Team has spent countless hours reviewing resumes, job postings, and government data to determine what goes into getting a job in each phase of life. Professional writers and data scientists comprise the Zippia Research Team.

Updated January 8, 2025

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