Foreclosure Bankruptcy Specialist

Rhode Island Housing; Providence (RI); Hybrid; USD 59,000 - 77,000; Full time

Benefits offered by this job

Parking Stipend

Lunch and Learn series

Education Reimbursement

Onsite Fitness Classes

Retirement Options

Paid Time Off

Job summary

Rhode Island Housing is seeking a Foreclosure Bankruptcy Specialist to join the Loan Servicing Department in Providence. The role focuses on managing bankruptcy and foreclosure activities in compliance with laws, investor and insurer rules, and guidelines, while minimizing financial risk.

The position is hybrid, based in Providence, RI, with face-to-face collaboration in the office as part of the Loan Servicing team.

Qualifications

• Paralegal Certification preferred.
• Associate’s degree in business administration or related field.
• Five years’ experience in mortgage collections, foreclosure, and bankruptcy preferred.
• Knowledge of state and federal bankruptcy and foreclosure laws, CFPB and FDCPA regulations, and government-insured loans.

Responsibilities

• Administer foreclosure and bankruptcy activities per internal policies and regulatory guidelines.
• Monitor delinquent accounts and prepare foreclosure referral recommendations.
• Calculate and reconcile delinquency figures for legal documents.
• Coordinate with legal counsel to initiate foreclosure proceedings and motions.
• Review bankruptcy filings to determine debtor’s intent and plan feasibility.
• Prepare bankruptcy proofs of claim, notices, and related documents for filing.
• Prepare Reaffirmation Agreements and coordinate requirements with counsel.
• Process and monitor bankruptcy payments and related activities.
• Coordinate with the Escrow Department to ensure bankruptcy compliance.
• Maintain loan servicing workstations and update REO records after foreclosure.
• Manage pipeline of foreclosure and bankruptcy accounts and track milestones.
• Prepare foreclosure bids and communicate instructions to counsel.
• Provide post-foreclosure updates in asset management systems.
• Prepare REOgrams for Fannie Mae loans and related forms.
• Prepare monthly delinquency, REO, and MI reports.

Skills

Negotiation

Communication

Organization

Analytical thinking

Problem-solving

Multitasking

Independent work

Bilingual (Spanish or Portuguese)

Education

Paralegal Certification

Associate’s degree in business administration or related field

Tools

Microsoft Word

Microsoft Excel

Job description

If you are unable to complete this application due to a disability, contact this employer to ask for an accommodation or an alternative application process.

Foreclosure Bankruptcy Specialist

Servicing - REO Full Time Regular Providence, RI, US

Salary Range: $58,972.00 To $76,664.00 Annually

RIHousing – Foreclosure Bankruptcy Specialist

Salary - $58,972.00 - $76,664.00

Please note: This pay range represents the base annual full-time salary for all positions within this job grade. The actual salary offered will depend on factors such as experience and other job‑ related‑ qualifications.

What we are all about:

We are seeking a dynamic professional to serve as the Foreclosure Bankruptcy Specialist within our Loan Servicing Department. This position is responsible for managing bankruptcy and foreclosure activities in compliance with applicable laws, investor and insurer regulations, and established guidelines, while minimizing financial risk and exposure to RIHousing.

This is a hybrid position based in Providence, Rhode Island, where you will be an integral part of our Loan Servicingteam. The role is designed for face-to-face collaboration and direct involvement in our office environment.

What you’ll do daily:

• Administer foreclosure and bankruptcy activities within the Single-Family Loan Servicing Division in accordance with internal policies, regulatory requirements, investor and insurer guidelines, and sub-servicing requirements.
• Monitor delinquent accounts and identify loans that meet established foreclosure referral criteria. Prepare foreclosure referral recommendations for review by the Assistant Director and ensure all prerequisites for initiating foreclosure are satisfied.
• Calculate, reconcile, and validate delinquency figures for use by legal counsel in demand letters, court affidavits, and other legal documents, ensuring accuracy and compliance with applicable federal and state requirements and regulatory timelines.
• Coordinate with foreclosure and bankruptcy legal counsel to initiate foreclosure proceedings and, when applicable, motions for relief from the bankruptcy stay.
• Determine applicable HUD foreclosure requirements for referred loans, including whether the foreclosure will proceed through a judicial or non-judicial process, and coordinate required documentation and actions with legal counsel.
• Review Chapter 7 and Chapter 13 bankruptcy filings and plans to determine the debtor’s intent, assess plan feasibility, and identify servicing actions and requirements.
• Calculate, reconcile, and prepare bankruptcy proofs of claim, notices of final cure payment, notices of payment change, and notices of post-petition fees for Chapter 13 bankruptcy matters for filing by legal counsel.
• Prepare Reaffirmation Agreements for Chapter 7 bankruptcy matters and coordinate related requirements with legal counsel.
• Process and monitor pre- and post-petition bankruptcy payments, fees, and other account activity to ensure accurate application and research bankruptcy plans as needed to determine appropriate servicing actions.
• Coordinate with the Escrow Department to ensure annual escrow analyses and related servicing activities comply with applicable bankruptcy requirements.
• Maintain foreclosure and bankruptcy workstations within the loan servicing system, including post-foreclosure activities. Update account records and the Real Estate Owned (REO) workstation following foreclosure to ensure accurate and timely reporting.
• Manage a pipeline of active foreclosure and bankruptcy accounts, including reviewing attorney pipeline reports and monitoring legal milestones to ensure required actions are completed within established timelines.
• Prepare foreclosure bids in accordance with applicable investor and insurer requirements and communicate bid instructions and supporting information to legal counsel.
• Provide post-foreclosure updates in the Fannie Mae and Freddie Mac Asset Management systems, as applicable.
• For Fannie Mae loans, prepare and submit REOgrams and Cash Disbursement Request Forms in accordance with applicable requirements.
• Prepare monthly internal and sub-servicing reports related to delinquency, REO, and mortgage insurance (MI) claim status.
• Maintain current knowledge of applicable federal and state foreclosure and bankruptcy laws, regulations, investor and insurer requirements, and servicing guidelines, including requirements administered by the Consumer Financial Protection Bureau (CFPB) and the Fair Debt Collection Practices Act (FDCPA).
• Cross-train in other loan servicing functions and provide support for assigned special projects and departmental initiatives.

What success looks like in this position:

• Paralegal Certification preferred, associate’s degree in business administration, or related field
• Five years’ experience in mortgage collections, foreclosure, and bankruptcy preferred
• Knowledge of state and federal laws governing bankruptcy and foreclosure, knowledge of CFPB and FDCPA regulations, and knowledge of government-insured loans, including FHA, USDA, FNMA, Freddie Mac, and VA-insured loans
• Strong negotiations, communications, and organizational skills
• Strong analytical and problem-solving skills, ability to comprehend complex transactions
• Ability to handle multiple projects/tasks, prioritize and organize workload, and meet investor and legal deadlines
• Technology proficiency, including Microsoft Word and Excel
• Understanding of real estate appraisals and titles
• Ability to work independently, be flexible, and self-motivated
• Bilingual ability preferred (particularly Spanish or Portuguese)
• Use of a personal vehicle, a valid driver’s license, and proof of insurance is required

Not sure if you meet all the qualifications? Let us decide!

Why RIHousing:

• Mission-Driven Organization
• Lunch and Learn series
• Employee Recognition programs
• Dedicated Workforce
• Parking Stipend
• Paid Time Off
• Retirement Options
• Education Reimbursement
• Onsite Fitness Classes
• Winner of "Best Places to Work" 2016, 2018, 2019, 2021 - 2026
• Greater Providence Chamber of Commerce Worksite Health Award 2013 - 2026
• PBN's Healthiest Employers of RI 2025 & 2026

About RIHousing

RIHousing works to ensure that all people who live in Rhode Island can afford a healthy, attractive home that meets their needs. RIHousing provides loans, grants, education and assistance to help Rhode Islanders find, rent, buy, build and keep a good home. Created by the General Assembly in 1973, RIHousing is a self-sustaining corporation and receives no state funding for operations.