Default Counselor
Location: Providence, Rhode Island
Work Arrangement: Hybrid
Salary: $54,802–$68,503
About the Employer
RIHousing works to ensure that all people who live in Rhode Island can afford a healthy, attractive home that meets their needs. RIHousing provides loans, grants, education, and assistance to help Rhode Islanders find, rent, buy, build, and keep a good home. Created by the General Assembly in 1973, RIHousing is a self-sustaining corporation and receives no state funding for operations.
Role Summary
We are seeking a dynamic professional to serve as a Default Counselor in our Loan Servicing Department. This position is accountable for mortgage counseling and collections through foreclosure to ensure minimal risk exposure to Rhode Island Housing. You will be an integral part of our Loan Servicing team, working with borrowers who are behind on their mortgage payments and providing counseling and support to help them avoid default or more serious legal action.
What You'll Do
- Administer the collections process in compliance with internal policies, regulatory guidelines, sub-servicer requirements, and investor standards, including delinquency reporting to appropriate investors and insurers
- Contact delinquent borrowers to provide counseling, cure defaults, and make referrals for loan workouts or foreclosure action, in accordance with Consumer Financial Protection Bureau (CFPB) regulations regarding Quality Right Party Contact (QRPC)
- Request financial hardship documentation and arrange repayment or forbearance plans in line with internal and regulatory guidelines
- Initiate delinquency notices, demand letters, skip tracing, and property inspections as needed
- Maintain and document all borrower communications in the customer contact log and monitor loan status via the delinquency reporting queue
- Research and resolve payment issues, review requests for late charge waivers, and handle borrower complaints in compliance with CFPB customer complaint tracking requirements, using de-escalation techniques as appropriate
- Process one-time electronic and non-electronic payments as requested
- Assist customer service with questions regarding delinquent loans, track progress, and monitor delinquency trends
- Support loss mitigation by communicating available options prior to referral, identifying loans for potential legal action, and assisting with Home Secure Program outreach and tracking
- Conduct outreach via phone, written communication, and face-to-face counseling to achieve quality right-party contact and determine the reason for default
Required Qualifications
- Three years of experience in mortgage collections and/or customer service
- Strong knowledge of CFPB regulations, including Quality Right Party Contact (QRPC) and customer complaint tracking requirements
- Knowledge of CFPB, FNMA, FHA, VA, and USDA regulations, as well as private mortgage insurer guidelines
- Associate's degree in business administration or related field, and/or equivalent work experience
- Use of a personal vehicle, a valid driver's license, and proof of insurance
- Strong negotiation, communication, and organizational skills
- Ability to collaborate with customer service staff, monitor delinquent loan portfolios, and support special projects as assigned
- Flexibility to work occasional evenings and Saturdays as required
Preferred Qualifications
- Bilingual ability (particularly Spanish or Portuguese)
Compensation
$54,802–$68,503. This pay range represents the base annual full-time salary for all positions within this job grade. The actual salary offered will depend on factors such as experience and other job-related qualifications.
Benefits
Medical, dental, vision, and life insurance; paid time off; retirement options; flexible work hours; parking stipend; education reimbursement; onsite fitness classes; and volunteer days.
Additional Information
This is a hybrid position based in Providence, Rhode Island, designed for face-to-face collaboration and direct involvement in the office environment. If position eligible, future hybrid work may be available. RIHousing is a winner of "Best Places to Work" 2016, 2018, 2019, 2021–2026, recipient of the Greater Providence Chamber of Commerce Worksite Health Award 2013–2025, and was named among PBN's Healthiest Employers of RI 2025.
