Top 20 Mortgage Collector Interview Questions & Answers

Updated on: June 6, 2020

The main work of a mortgage collector is to negotiate payment terms with clients in order to avoid delinquencies – and of course, collect mortgage payments. In order to work at this position, you must pass the Mortgage Collector interview stage.

At the Mortgage Collector interview, you will be asked questions pertaining to the kind of work that you know, and are experienced in. This would include, determining clients’ financial abilities, performing skip-tracking tasks, and documenting all client interactions.

Likewise, during the interview, you will also be tested on how well you can handle client interactions, and how well-versed you are in collecting payments.

Besides, some behavioral questions will also be asked to determine how you manage problems.

A set of interview questions and answers for a mortgage collector position is provided here:

Mortgage Collector Interview Questions and Answers

1. Tell us a little bit about yourself.

I have been working in the mortgage field for 10 years now. Initially, it started out as a summer job, but soon I developed a great interest in this work. Since then, I have been working in collections.

2. What specific duties have you performed in this role?

As a mortgage collector, my duties have involved initiating and receiving incoming and outgoing phone calls, establishing repayment schedules, and facilitating payment receipts. Apart from this, my work includes making collection demands, analyzing clients’ situations, and reviewing and negotiating foreclosures.

3. What skills do you possess which make you an excellent person to work as a mortgage collector?

I am a highly enthusiastic individual, who has excellent convincing skills. In addition, I am well-versed in identifying potential collection solutions for each loan type, and can also calculate payment solutions effectively. Moreover, I am competent in performing skip-tracking to locate debtors where contact information is incomplete or inaccurate.

4. Do you like the environment that you are working in?

Mortgage collection is highly dynamic work, and I love working in this environment. There are so many challenges which I look forward to every day. They make work more interesting.

5. How do you handle conflict with clients?

When you are working in collections in any industry, conflict is a necessary ingredient. People do not like paying up. My solution is simple. I narrate facts and figures, and I provide them with deadlines. If there is a disagreement, I never lose my cool. Instead, I politely explain that I have given them as much leeway as possible, and won’t be able to in the future.

6. How do you handle conflict with coworkers?

I have never had a conflict with any of my coworkers. A few disagreements here and there are obvious when you are working in a team environment, but I am generally a cool-headed person. So, disagreements never convert into altercations.

7. What do you find most difficult about this work?

There are times when clients cannot pay genuinely, and putting them in defaulters’ lists so that they are at the mercy of authorities makes me a bit sad. However, this is all part and parcel of the work, even if it is something that I dislike doing.

8. What do you like the most about this work?

I love the high energy that is needed to work in collections. It motivates me.

9. What is your biggest strength?

My biggest strength is my ability to convince people to make payments within given timelines. I must say I have the gift of gab which is greatly appreciated in this work.

10. What is your biggest weakness?

My biggest weakness is probably my need for perfection. This makes it difficult for me to be satisfied with near-perfect outcomes.

11. How do you handle the stress associated with this work?

One does not get stressed out if one thinks of it as work and not the end of the world. I make sure that I do not stress out by taking constant breaks, and ensuring that I deal with one thing at a time.

12. What do you do when a client refuses to pick up the phone?

Skip-tracking is a great skill of mine. I have always been able to find elusive clients, which had earned me high commendation from my superiors.

13. How do you handle a situation where a client gets aggressive?

Since I am not an aggressive individual myself, it is easy for me to balance the scale. I speak to them in a polite way no matter how they speak. If there is physical aggression, I know how to defend myself.

14. Describe your dream job.

My dream job would be one where I am learning something every single day, and no day goes without an accomplishment.

15. Describe a time when you went out of your way to help someone?

I was once following up with this old lady who had to pay her mortgage. She had dementia and would keep forgetting that she had to pay. And then at one time, she forgot that she owed money and became quite upset when we demanded it. I had to lead her through each process, every single day. It was quite a difficult experience, but the end was pure gratefulness. And the mortgage was paid in full too.

16. Why do you want to leave your present job?

I am moving to this city soon, which is why I do not have a choice but to leave my previous job.

17. Why do you want to work for our company specifically?

I am interested in your company specifically because it comes highly recommended by a lot of people in this city. And I am aware of the excellent reputation that it holds.

18. Describe a time when you chose not to help a teammate.

I refused to help a teammate who wanted to pocked a cash payment, and write it off as a defaulted payment. He had asked me to cover up for him, but I did not play along.

19. Where do you see yourself in 5 years?

I see myself working as a collections director within the next 5 years.

20. Do you have any questions for me?

Yes, I am interested in knowing more about your mortgage policies, and follow-up procedures.

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