Collections Specialist
Renovo Financial, Chicago, IL, United States
Renovo Financial is a dynamic and fast-growing private lender and mortgage servicer based in Chicago, dedicated to partnering with real estate investors who acquire and renovate single and multi-family residential properties. We take pride in delivering exceptional support to our clients, guiding them seamlessly from loan application to pay off with a commitment to unparalleled service. Our focus on reliability and a “win-win” approach has earned us an industry-leading repeat and referral rate, reflecting the strong relationships we build with our clients.
Position Summary Renovo’s Collections Specialist is responsible for portfolio monitoring and managing through troubled loan situations. The Collections Specialist serves as the primary point of contact for borrowers and is responsible for managing loans from early-stage delinquency through foreclosure sale. This role requires an assertive, highly collaborative professional who thrives in a fast-paced environment and can communicate effectively with diverse stakeholders, including borrowers, attorneys, and senior leadership. The associate will lead collection efforts, loss mitigation efforts, and negotiate/implement workout strategies, and ensure timely resolution of troubled loans while maintaining strong borrower relationships. The Portfolio Management Associate will report to Renovo’s VP of Portfolio Management.
Responsibilities
Serve as the dedicated liaison for assigned borrowers, ensuring consistent and transparent communication throughout the delinquency and foreclosure process.
Proactively manage loans from early-stage delinquency through foreclosure sale, including borrower outreach, financial reviews, and action plan development.
Negotiate and implement loan workouts, restructures, and extensions.
Collaborate with internal teams, General Counsel, Foreclosure Counsel, and default service providers to maximize recovery and minimize losses.
Analyze borrower financial statements, cash flow, and real estate proformas to assess repayment ability and prepare professional written analyses.
Identify problem loans, maintain watchlists, and conduct special reviews as needed.
Hold borrowers and internal teams accountable to milestones and timelines for workout and foreclosure processes.
Track project completion status to ensure successful loan exits
Be the Culture
Bring Renovo’s values to life through your actions, choices, and commitment to a shared purpose
What We Look For
Minimum 2 years in mortgage servicing (residential or business purpose), collections, finance, banking, or real estate credit, with exposure to workouts and special situations.
Intermediate understanding of mortgage lending, restructuring, and financial deal structuring.
Strong negotiation and communication skills, with the ability to tailor messaging to diverse audiences.
Analytical ability to synthesize data and provide concise recommendations.
Proficiency in Microsoft Excel and Word; tech-savvy and quick to learn new systems.
Professional presence, excellent organizational skills, problem-solving mindset, and ability to manage multiple priorities in a dynamic environment.
At Renovo, we’re building a team that reflects a wide range of backgrounds, perspectives, and skills because we believe diverse voices make us stronger. We’re proud to be an equal opportunity employer and welcome applicants of all identities and experiences.
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Position Summary Renovo’s Collections Specialist is responsible for portfolio monitoring and managing through troubled loan situations. The Collections Specialist serves as the primary point of contact for borrowers and is responsible for managing loans from early-stage delinquency through foreclosure sale. This role requires an assertive, highly collaborative professional who thrives in a fast-paced environment and can communicate effectively with diverse stakeholders, including borrowers, attorneys, and senior leadership. The associate will lead collection efforts, loss mitigation efforts, and negotiate/implement workout strategies, and ensure timely resolution of troubled loans while maintaining strong borrower relationships. The Portfolio Management Associate will report to Renovo’s VP of Portfolio Management.
Responsibilities
Serve as the dedicated liaison for assigned borrowers, ensuring consistent and transparent communication throughout the delinquency and foreclosure process.
Proactively manage loans from early-stage delinquency through foreclosure sale, including borrower outreach, financial reviews, and action plan development.
Negotiate and implement loan workouts, restructures, and extensions.
Collaborate with internal teams, General Counsel, Foreclosure Counsel, and default service providers to maximize recovery and minimize losses.
Analyze borrower financial statements, cash flow, and real estate proformas to assess repayment ability and prepare professional written analyses.
Identify problem loans, maintain watchlists, and conduct special reviews as needed.
Hold borrowers and internal teams accountable to milestones and timelines for workout and foreclosure processes.
Track project completion status to ensure successful loan exits
Be the Culture
Bring Renovo’s values to life through your actions, choices, and commitment to a shared purpose
What We Look For
Minimum 2 years in mortgage servicing (residential or business purpose), collections, finance, banking, or real estate credit, with exposure to workouts and special situations.
Intermediate understanding of mortgage lending, restructuring, and financial deal structuring.
Strong negotiation and communication skills, with the ability to tailor messaging to diverse audiences.
Analytical ability to synthesize data and provide concise recommendations.
Proficiency in Microsoft Excel and Word; tech-savvy and quick to learn new systems.
Professional presence, excellent organizational skills, problem-solving mindset, and ability to manage multiple priorities in a dynamic environment.
At Renovo, we’re building a team that reflects a wide range of backgrounds, perspectives, and skills because we believe diverse voices make us stronger. We’re proud to be an equal opportunity employer and welcome applicants of all identities and experiences.
#J-18808-Ljbffr