Retail Collections Specialist

We are seeking an experienced and detail-oriented Retail Collections Specialist to join our team. The successful candidate will be responsible for independently collecting on the banks Mortgage and Consumer Portfolios as well as Investor portfolios, including Fannie Mae, Freddie Mac, FHA, USDA, and private investor loans. This role involves a variety of tasks aimed at ensuring compliance with servicing guidelines, communicating with borrowers, and reducing non-performing assets.

Primary Responsibilities:

• Contact and assist delinquent loan customers to arrange timely payments and reduce non-performing assets.
• Ensure compliance with debt collection laws and regulations.
• Process and follow up on delinquent payments, update reports, and use collection software.
• Refer legal cases (e.g., foreclosures, estate claims) to bank counsel as needed.
• Coordinate loss mitigation efforts, including gathering documentation and sending required letters.
• Independently manage investor loan portfolios (Fannie Mae, Freddie Mac, FHA, USDA, private investors), including borrower contact, property inspections, and compliance with servicing guidelines.
• Explain forbearance and repayment options, and process loan modifications.
• Stay current on system and guideline updates.
• Complete monthly EDR reporting for GSE and private investor loans, and support loan operations with reporting requirements.

Requirements/Qualifications:

• Strong understanding and experience with default servicing requirements for Fannie Mae and Freddie Mac loans
• 3+ years relevant work experience in Consumer Collections or a related field.
• Knowledge of consumer credit (Dodd-Frank/CFPB) and Fair Debt Collection Practices Act.
• Professional verbal and written communication skills.
• High attention to detail.
• Possess good organizational and follow up skills with the ability to multi-task.
• Ability to work independently with a sense of urgency.
• Basic Microsoft Word and Excel skills, as well as prior experience with collections software.
• Demonstrated effective communication and interpersonal skills.
• BA/BS Degree or relevant work experience in lieu of degree

Our employees enjoy a comprehensive benefits package, which includes health and welfare benefits, paid time-off, work-life program, and a 401(k) plan. We believe employees who are valued, recognized, rewarded and empowered, will achieve personal and professional growth. Apply today and find out why we have been voted one of the Best Places to Work in Rhode Island since 2011!

The Washington Trust Company, and each of its subsidiaries and affiliates are committed to providing equal employment opportunities to all employees and applicants as protected by state and/or federal law.