Foreclosure And Bankruptcy Specialist

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Foreclosure and Bankruptcy Specialist
The candidate will monitor, update and collect members' accounts involved in bankruptcy. Analyze accounts to determine the optimal course of action while ensuring accounts are handled in full compliance with federal bankruptcy laws and HVCU policies and procedures. Responsible for the administration of foreclosures, REO properties and the restructure of mortgage loans to best preserve the assets of the Credit Union. Responsible for all communications with bankrupt members including reaffirmations, collection activity, system maintenance, charge-off recommendations and Proof of Claims. Contact debtor’s counsel to obtain additional case information, for permission to contact the member (when applicable) and to resolve other matter including, but not limited to, redemption offers and negotiated reaffirmation agreements. Monitor payment status on all accounts to ensure payments are made in accordance with bankruptcy plan. Process dismissals, discharges, order providing relief from stay, abandonment orders and determine appropriate course of action. Provide accurate credit bureau reporting approval requests and submits them to management for approval. Negotiate settlements and repayment agreements with loans placed at a collection agency or in-house accounts. Communicate with outside legal counsel for the handling of reaffirmed loan accounts or any legal issues pertaining to all Credit Union bankruptcies. Work with outside legal counsel to cure real estate delinquency and minimize risk to the Credit Union. Accountable for the quality control of all entries regarding foreclosure and bankruptcy records, logs, reports and system information. Maintain current and accurate information on bankruptcy and foreclosure procedures and handle all related member and employee inquiries in a manner that is consistent with Credit Union policy and procedure. Coordinate all foreclosure activity from first date of delinquency through disposition of REO (Real Estate Owned) properties. Responsible for negotiating fees relating to pre-foreclosed and REO properties including but not limited to realtor fees, maintenance fees, sales prices and short sale offers. Maintain and ensures accurate reporting related to foreclosures. Responsible for preparation of accurate monthly general ledger proofs (REO and MISC). Attend foreclosures sales and court-mandated settlement conferences with attorney when applicable and frequently meets with vendors (i.e. locksmiths, realtors, plumbers, etc.). Adhere to all Credit Union policies, procedures, and regulatory agency requirements. Participate in all required and recommended training and development including, but not limited to, Bank Secrecy Act training (BSA) and demonstrate attained knowledge. Participate on Credit Union teams, projects and strategic initiatives when the opportunity arises. Perform additional duties and special projects as assigned. Embrace and apply guiding principles to all activities and responsibilities. This includes the Credit Union’s Mission, Vision, Core Values, Employee and Member Value Propositions, Sales and Service Model, and commitment to Lean Six Sigma practices. Support the Credit Union’s initiatives by demonstrating teamwork and professionalism. Responsible for regular and predictable attendance including punctuality.

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