Process and monitor standard bankruptcy proceedings on mortgage loan files. Duties will vary with respect to each file, but include some or all of the following:
Ensure assigned bankruptcy loans are handled in compliance with Company policies and procedures, investor guidelines, state laws, Federal Bankruptcy code, and regulating agencies.
Review plans and determine whether the plan is acceptable to investor and recommend action to protect the lien.
Timely and accurately refer bankruptcy loans to outside council to initiate the filing of proof of claim, objection to plan, motion for relief, transfer of claims, etc. within Court, company and investor imposed deadlines. Monitor bankruptcy timelines to ensure outside counsel is completing bankruptcy milestones timely, and communicate with attorney firms when necessary to get work completed.
Release loans to Production and/or Foreclosure upon termination of Bankruptcy stay.
Utilize and document MSP and LPS Desktop servicing platforms to manage bankruptcy processes, and complete required tasks on loans. Maintain accurate status information on bankruptcy processes in MSP and LPS Desktop.
Complete and review regular AACER searches of entire loan portfolio to ensure prompt discovery of bankruptcy filings.
The successful candidate will have a background in bankruptcy, debt collection, or residential mortgage law. He or she will be detail oriented, resourceful, diligent and organized, have strong negotiation skills, excellent communication skills (verbal and written), and have the ability to prioritize and meet deadlines in a fast paced work environment. He or she must also be able to use MSP and be proficient with respect to LPS Desktop loan management systems.
At least 1 year of experience with bankruptcy litigation support
Must be able to correctly complete basic mortgage calculations related to bankruptcy, including figures for proof of claim, motion for relief, and other events
Possess knowledge of payment histories and audit of financial information
Understanding of basic mortgage documents, including collateral documents
At least 1 year of experience using LPS desktop and / or MSP
Excellent verbal/written communication skills, organized, and good time management
Good problem solving and analytical skills
Proficiency with LPS Desktop, MSP, MS Word, Adobe Acrobat, Outlook and Excel
Process bankruptcy loans in compliance with Company policies and procedures, investor guidelines, state laws, Federal Bankruptcy code, and regulating agencies.
Refer loans to outside council in timely manner and monitor work assigned to firms
Productivity and quality
Review, prioritize, and provide timely and accurate response to tasks, intercoms, email, etc.
Review, follow-up, and provide timely escalation of issues and holds for approval.
Analyze information on a situation, problem, loan or borrower, and make appropriate recommendation on actions
Fay Servicing provides equal employment opportunities (EEO) to all employees and applicants for employment without regard to race, color, religion, sex, national origin, age, disability, genetic information or any other characteristic protected under applicable state or local law. Fay Servicing complies with applicable state and local laws governing nondiscrimination in employment in every location in which the company has facilities. This policy applies to all terms and conditions of employment, including recruiting, hiring, background check, placement, promotion, termination, layoff, recall, transfer, leaves of absence, compensation and training. Fay Servicing expressly prohibits any form of workplace harassment.