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Mortgage Collection Specialist Jobs (NOW HIRING)

Collabera

Collection Specialist

Greensboro, NC

$18 - $24.25/hr

Collectors work with customers to help them understand their mortgage terms, review delinquency ... Previous Collection experience College degree desired, but not required Desire to resolve customer ...

Trustmark Bank

Collection Specialist II

Ridgeland, MS · On-site

$16 - $21.75/hr

Two years of collection experience working with similar consumer, mortgage or commercial products preferred * Two-year college degree preferred Physical Requirements & Working Conditions: Must be ...

Trustmark Bank

Collection Specialist II

Ridgeland, MS · On-site

$16 - $21.75/hr

Two years of collection experience working with similar consumer, mortgage or commercial products preferred * Two-year college degree preferred Physical Requirements & Working Conditions: Must be ...

Trustmark Bank

Collection Specialist II

Ridgeland, MS · On-site

$16 - $21.75/hr

Two years of collection experience working with similar consumer, mortgage or commercial products preferred * Two-year college degree preferred Physical Requirements & Working Conditions: Must be ...

metrocu

Mortgage Workout Specialist

Chelsea, MA · On-site

Why This Role Exists Metro is looking for a Financial Solutions Specialist, Mortgage Workout ... collection procedures, and applicable laws. This role matters because it directly supports members ...

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How much do mortgage collection specialist jobs pay per hour?

As of Aug 21, 2026, the average hourly pay for mortgage collection specialist in the United States is $21.46, according to ZipRecruiter salary data. Most workers in this role earn between $17.79 and $24.04 per hour, depending on experience, location, and employer.

What is a mortgage collection specialist?

A Mortgage Collection Specialist is a financial professional responsible for managing overdue mortgage accounts. They contact borrowers who have missed payments, help them understand their options, and work to find solutions such as payment plans or loan modifications. These specialists also ensure compliance with lending regulations and may initiate foreclosure proceedings if necessary. Their goal is to help borrowers resolve delinquencies while minimizing losses for the lender.

What are the key skills and qualifications needed to thrive as a mortgage collection specialist?

To thrive as a Mortgage Collection Specialist, you need strong knowledge of loan servicing, collections processes, and relevant financial regulations, often supported by experience in banking or finance. Familiarity with loan management software, collections databases, and regulatory compliance systems is typically required. Excellent negotiation, active listening, and problem-solving skills help you effectively communicate with borrowers and resolve delinquent accounts. These skills and qualities are essential to minimize loan losses, maintain compliance, and preserve positive customer relationships.

What are some common challenges faced by mortgage collection specialists and how can they be managed?

Mortgage Collection Specialists often encounter challenges such as handling difficult conversations with borrowers, managing high caseloads, and staying up-to-date with regulatory requirements. Success in this role requires strong communication and negotiation skills, empathy, and the ability to problem-solve under pressure. Many organizations provide ongoing training and support from team leads or supervisors to help specialists navigate these challenges effectively, while also encouraging collaboration with colleagues to share best practices.

What is the difference between Mortgage Collection Specialist vs Loan Processor?

AspectMortgage Collection SpecialistLoan Processor
Primary RoleRecover overdue mortgage payments and manage delinquent accountsEvaluate loan applications, verify documents, and prepare loan files for approval
Required SkillsDebt collection, communication, negotiationFinancial analysis, document review, customer service
Work EnvironmentCollections departments, financial institutionsLoan departments, banks, mortgage companies
CertificationsOften none required, but collections certifications helpfulLoan processing certifications beneficial

While both roles are within the mortgage industry, a Mortgage Collection Specialist focuses on recovering overdue payments and managing delinquent accounts, whereas a Loan Processor handles the evaluation and preparation of loan applications. They serve different stages of the mortgage process but may collaborate within the same organization.

How much does a mortgage collection specialist make?

A mortgage collection specialist typically earns between $35,000 and $55,000 annually, depending on experience, location, and employer. Some roles may offer additional bonuses or commissions based on recovery performance, and strong communication skills are essential for success in this position.

Is a mortgage collection specialist a stressful job?

A mortgage collection specialist's job can be stressful due to the need to handle delinquent accounts, communicate with distressed borrowers, and meet collection targets. The role often requires strong communication skills, attention to detail, and the ability to manage difficult conversations in a high-pressure environment.
More about Mortgage Collection Specialist jobs

What job categories do people searching Mortgage Collection Specialist jobs look for?

The top searched job categories for Mortgage Collection Specialist jobs are:

Mortgage Collection Specialist jobs near you
Infographic showing various Mortgage Collection Specialist job openings in the United States as of August 2026, with employment types broken down into 1% As Needed, 85% Full Time, 12% Part Time, and 2% Contract. Highlights an 79% Physical, 2% Hybrid, and 19% Remote job distribution, with an average salary of $44,646 per year, or $21.5 per hour.

Retail Mortgage Collection Specialist

Busey Bank

Champaign, IL • On-site

$22 - $30/hr

Full-time

Medical, Dental, Vision, Life, Retirement, PTO

Posted 23 days ago

Busey Bank rating

6.3

Company rating: 6.3 out of 10

Based on 13 frontline employees who took The Breakroom Quiz

150th of 171 rated banks

Job description

Position Summary
This position requires the specialist to make contact with delinquent borrowers by making daily collection calls, writing letters and/or sending emails in order to obtain the borrower's current financial situation. Once their situation is known the specialist will determine the appropriate remedy to bring their account current. These remedies include ACH payments, payment deferments, loan modifications to a more complex process (repossession, foreclosure or litigation). The specialist is required to meet or exceed established collection goals and objectives.
Duties & Responsibilities
  • Review loan portfolios for past due accounts and other problems.
  • Make collection calls and carefully document all customer conversations and re-payment plans.
  • Gather information from customers to identify possible workout situations.
  • Collect and review necessary financial information from the borrower.
  • Consider appropriate opportunities for deferments to bring customers current.
  • Prepare loan modifications requests and present to Special Assets Manager for approval.
  • Use Busey website for ACH payments payments as appropriate.
  • Work towards exceeding all collection goals and objectives.
  • Prepare and review various reports.
  • Work with attorneys and other outside professionals, as needed.

Education & Experience
Knowledge of:
  • Strong oral and written communication skills

Ability to:
  • Analyze and interpret numerical data
  • Implement new procedures and approaches to problems
  • Analyze and solve problems that require analysis based on precedent
  • Maintain visual attention and mental concentration for extended periods of time
  • Perform duties and make decisions under frequent time pressures

Education and Training:
  • Requires High School diploma.
  • Requires prior banking and collection experience.
  • Requires knowledge of Microsoft Office.

Compensation and Benefits
Salary offered is based on factors, including but not limited to, the job duties, required qualifications and relevant experience, and local market trends. The role may be eligible for bonus or incentives based on company and individual performance.
(Base Pay Range: $22 - $30/hour)
Busey provides a competitive Total Rewards package in return for your time, talents, efforts and ultimately, results. Your personal and professional well-being-now and in the years to come-are important to us. Busey's Total Rewards include a competitive benefits package offering 401(k) match, profit sharing, employee stock purchase plan, paid time off, medical, dental, vision, company-paid life insurance and long-term disability, supplemental voluntary life insurance, short-term and long-term disability, wellness incentives and an employee assistance program. In addition, eligible associates may take advantage of pre-tax health savings accounts and flexible spending accounts. Visit Busey Total Rewards for more information.
Equal Opportunity
Busey values a diverse and inclusive workplace and strives to recruit, develop and retain individuals with exceptional talent. A team with diverse talent, working together, is essential to Busey's commitment of delivering service excellence. Busey is an Equal Opportunity Employer including Disability/Vets. Visit Busey.com/Careers to learn more about Busey's Equal Opportunity Employment.
Unsolicited Resumes
Busey Bank, and its subsidiaries, does not accept any liability for fees for resumes from recruiters or employment agencies ("Agency"), without a binding, written recruitment agreement between Busey and Agency describing the services and specific job openings ("Agreement"). Busey may consider any candidate for whom an Agency has submitted an unsolicited resume and explicitly reserves the right to hire those candidate(s) without any financial obligation to the Agency, unless an Agreement is in place. Any email or verbal contact with any Busey associate is inadequate to create a binding agreement. Agencies without an Agreement are requested not to contact any associates of Busey with recruiting inquiries or resumes. Busey respectfully requests no phone calls or emails.

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