Default Loan Servicing Specialist (Mortgage)

Location: Rosemont, Illinois, United States; hybrid work arrangement

Estimated hourly salary: $24.04–$33.65, plus eligibility for an annual bonus.

Company

Wintrust Mortgage is a federally chartered lender offering mortgage products across all 50 states and is part of Wintrust, a financial services company with more than $66 billion in assets.

What you will do

• Manage delinquent residential loan portfolios through bankruptcy and foreclosure, ensuring compliance with state and federal laws and investor, insurer, agency, and company guidelines.
• Monitor foreclosure and bankruptcy timelines, litigation, regulatory changes, audits, exceptions, and remediation plans.
• Conduct monthly oversight reviews of third-party subserviced loans and report defaulted-population updates to management.
• Prepare financial figures, risk-rating and charge-off memos, and monthly and quarterly problem-loan reports.
• Supervise approved attorneys, review invoices, and coordinate with collections, loss mitigation, construction-to-permanent lending, and other internal teams.
• Preserve collateral through site visits, appraisals, maintenance coordination, and transfer to the bank’s OREO department.

Requirements

• 7+ years of extensive knowledge of residential bankruptcy law, including all chapters, and the foreclosure process.
• Bachelor’s degree or equivalent.
• Excellent verbal and written communication skills.
• Strong analytical and customer service skills.
• Proficiency with Microsoft Office products, including advanced Excel knowledge.

Nice to have

• Prior experience in collections, loss mitigation, a workout group, or a law firm.

Culture & Benefits

• Family-friendly work hours and an entrepreneurial culture with opportunities for development, upward mobility, and promotion from within.
• Medical, dental, vision, life, disability, critical illness, accident, pet, and supplemental insurance options.
• Traditional and Roth 401(k) with company match, flexible spending account, employee stock purchase plan, transportation benefits, banking benefits, and tuition reimbursement.
• Parental leave and Employee Assistance Program.
• Inclusive workplace and equal opportunity employment.