Monitor loans in bankruptcy to ensure the debtor is in compliance with the bankruptcy plan and that CCO Mortgage adheres to investor, state, federal and bankruptcy court guidelines/timeframes.
Description of Function:
Prepare and file proof of claim (POC) upon receipt of debtor's notification of bankruptcy. Preparation includes confirmation of remaining balances on loan account, amount delinquent and due dates to ensure CCO will receive all funds due through the bankruptcy trustee.
Prepare reaffirmation and send to attorney
Review incoming payment checks from the debtor, trustee and attorneys, Determine appropriate application of funds according to Federal bankruptcy laws and/or CCO's attorney recommendations.
Work suspense browse daily and post funds from trustee suspense, debtor suspense, post 1 suspense and PP suspense. Reconcile account to verify account balances with trustee ledgers and system history ledger.
Review bankruptcy plan and object if necessary. Maintain current knowledge of new laws and regulations, state, federal, investor guidelines to minimize litigation and CCO losses.
Monitor file for post petition defaults. Negotiate with attorney to develop strategy for repayment arrangements with debtor. Follow up on consent order to minimize losses.
Handle all bankruptcy related correspondence, phone calls, emails and tasks promptly to avoid any customer complaints.
File signed reaffirmation with courts electronically. Make sure all necessary documents are attached to the reaffirmations to ensure CCO legal rights to pursue future defaults .
Bankruptcy Specialist works with the foreclosure, loss mitigation, escrow analysis, taxes and the insurance department communicating the bankruptcy status. They ensure Proof of Claims are filed correctly and all aspects of the bankruptcy are handled according to investor guidelines and time-frames. They are the first point of contact for bankruptcy attorney and customers in bankruptcy.
The Bankruptcy specialist I ensures that RBS-Citizens abide by all state and federal bankruptcy rules/laws. They ensure that RBS-Citizens is not sanctioned by any states or federal organizations for failure to maintain bankruptcy time-frames.
High School or Equivalent (GED) required
Associate Degree preferred
Bachelor Degree preferred
Effective verbal, written and interpersonal communication; PC and CRT skills, word processing, spreadsheets and data entry; math aptitude, accuracy; strong proofing reading skills; detail oriented.
Bilingual English/Spanish a plus
Minimum 1 year experience in mortgage banking, real estate, or law that includes exposure to mortgage default and/or bankruptcy.
Equal Employment Opportunity
It is the policy of CCO Mortgage Corporation to provide equal employment and advancement opportunities to all colleagues and applicants for employment without regard to race, color, ethnicity, religion, gender, pregnancy/childbirth, age, national origin, sexual orientation, gender identity or expression, disability or perceived disability, genetic information, citizenship, veteran or military status, marital or domestic partner status, or any other factor protected by federal, state and/or local laws.
Hours and Work Schedule
Hours per Week: 40
Work Schedule: Monday-Friday 8:00AM-5:00PM