LWO Officer

Brief Description: Locates and contacts customers that are in default to negotiate the terms of a workout agreement to avoid foreclosure action.Job Responsibilities: ESSENTIAL FUNCTIONS: 1.  Maintains assigned loan workout, compliance, or closing portfolio to ensure production goals and performance standards are met.2.  Reviews status of assigned accounts and contacts customers to discuss workout options, including negotiating payment and workout agreements when full payment is not possible.3.  Analyzes the customer’s financial condition and collateral values, identifies the most appropriate workout strategy, and makes appropriate recommendations.4.  Performs routine customer service and collection activity on assigned accounts.5.  Sends appropriate workout letters according to established procedures and timelines.6.  Investigates, resolves and responds to borrower complaints, inquiries and disputes in accordance with established procedures and in compliance with RESPA.7.  Prepares and submits files for referral to foreclosure in accordance with established procedures.8.  Reviews assigned accounts to determine if funds should be accepted or denied, including monitoring tax payments and suspense funds for appropriate posting to account.9.  Ensures accepted funds are posted according to the posting protocol.10.  Calculates and provides reinstatement, payoff and other debt information to attorneys, customers, and other third parties.11.  Records pertinent information in the servicing system obtained through verbal or written communication, including payment arrangements and other critical information.12.  Maintains appropriate disposal codes on assigned accounts as needed.13.  Performs assigned FORTRACS activities according to established procedures and timelinesQualifications: GENERAL SKILLS AND ABILITIES: 1.  Strong mortgage collections background.2.  Working knowledge of mortgage loan documents.3.  Thorough knowledge and understanding of the Fair Debt Collection Practices Act.  4.  Proficient knowledge of personal computers using Microsoft Word, Excel, and Outlook.5.  Ability to learn and operate in-house computer systems and a variety of vendor software applications.6.  Skill to type 50 words per minute. 7.  10 Ability to operate general office equipment (photocopier, fax, etc.).8.  Ability to handle multiple tasks and deadlines with attention to detail.9.  Organizational skills. COMMUNICATION SKILLS: 1.  Ability to effectively communicate with coworkers, peers, and management through written and verbal communication. 2.  Ability to communicate with customers, internal departments, and other third parties in a professional manner.3.  Ability to deal with varied and often difficult personalities while maintaining an even temperament.4.  Ability to communicate with the legal community in a proficient manner.5.  Negotiation skills.6.  Excellent listening skills. MINIMUM QUALIFICATIONS: 1.  High School Diploma or equivalent.2.  Three to five years related experience or equivalent combination of education and experience. Merrill Lynch is an Equal Opportunity Employer. The Firm and its affiliates do not discriminate in employment because of race, color, religion, gender, national origin, veteran status, disability, age, citizenship, marital or domestic/civil partnership status, sexual orientation, gender identity or expression or because of any other criteria prohibited under controlling federal, state or local law. Please register and apply using this link : Merrill Lynch Careers Company Description: Merrill Lynch is one of the world's leading wealth management, capital markets and advisory companies, with offices in 38 countries and territories and total client assets of almost $2.0 trillion.Merrill Lynch offers a broad range of services to private clients, small businesses, and institutions and corporations, organizing its activities into two interrelated business segments - Global Markets & Investment Banking and Global Wealth Management, which is comprised of Global Private Client and Global Investment Management. As an investment bank, it is a leading global trader and underwriter of securities and derivatives across a broad range of asset classes and serves as a strategic advisor to corporations, governments, institutions and individuals worldwide.Merrill Lynch owns approximately half of BlackRock, one of the world's largest publicly traded investment management companies, with more than $1 trillion in assets under management.We're growing our business by helping clients grow theirs.Our client relationships are among our greatest competitive assets. We deepen and enrich these relationships through disciplined growth, innovation, and seamless execution.