Mortgage Bankruptcy Specialist II

Fifth Third; Cincinnati (OH); Hybrid; USD 72,000 - 95,000; Full time

Job summary

Fifth Third is seeking a qualified professional to manage a centralized bankruptcy caseload and support outside counsel with mortgage servicing requirements. You will evaluate filing characteristics, prepare claims, monitor PACER updates, apply payments, and resolve complex payment issues while ensuring investor guidelines are met.

You will leverage knowledge of federal bankruptcy law and servicing restrictions to mitigate risk and improve customer outcomes in a team environment.

Qualifications

• Four-year college degree or equivalent work experience.
• 2-3 years banking operations or bankruptcy legal experience.
• Functional knowledge of federal bankruptcy law and related guidelines.

Responsibilities

• Create a Proof of Claim to ensure accuracy and recoverability of assets.
• Monitor the U.S. Bankruptcy Court PACER system for updates affecting assets.
• Apply payments from borrowers and trustee conduits per bankruptcy orders and investor guidelines.
• Research misapplied or misappropriated payments and resolve discrepancies.
• Communicate critical information clearly to customers and counsel per policies.

Skills

Bankruptcy knowledge

Analytical skills

Communication skills

Research skills

Detail-oriented

Education

Bachelor's degree or equivalent

Tools

Microsoft Excel

PACER familiarity

Job description

GENERAL FUNCTION: Manage outside counsel's timeline performance and supplement the legal support provided by outside counsel by researching legal precedent, investigating and interpreting the mortgage loan history, current loan status, investor implications as well as the borrower's filing particulars when preparing legal documents. Conduct research to support a legal proceeding, to formulate a defense, or to initiate legal action in a bankruptcy through effective planning, problem solving, use of analytical skills, ingenuity, sound judgment, while applying exhaustive mortgage loan servicing related restrictions specific to each account/case. Responsible for an average caseload of roughly 400 accounts totaling upwards of $43 million dollars of which 87% is serviced to the strict guidelines of a residential mortgage investors such as Freddie Mac, Fannie Mae, HUD, VA and others.Responsible and accountable for risk by openly exchanging ideas and opinions, elevating concerns, and personally following policies and procedures as defined. Accountable for always doing the right thing for customers and colleagues, and ensures that actions and behaviors drive a positive customer experience. While operating within the Bank’s risk appetite, achieves results by consistently identifying, assessing, managing, monitoring, and reporting risks of all types.DUTIES & RESPONSIBILITIES:* Centralized caseload of Chapter 7/12/13 bankruptcy accounts, demonstrating functional knowledge of each chapter providing for flexibility of movement within the department* Evaluates account and filing characteristics against legal precedents in order to identify/alleviate potential losses either monetary, or timeline in nature.* Creates a Proof of Claim, which ensures the accuracy and recoverability of 5/3 or investor assets* Monitors of the U.S. Bankruptcy Court System PACER for case updates that impact the bank or investors assets included in the bankruptcy* Applies payments received directly from borrowers and from trustee conduits towards appropriate balances as outlined in the bankruptcy case and in accordance with investor/insurer guidelines* Performs extensive research on lost, misapplied or misappropriated payments.* Leverages of a wide range of legal and bankruptcy knowledge, to augment the legal support services provided by internal/external counsel.* Resolves complex issues involving payment disputes, escrow discrepancies/changes, ARM changes, inaccurate mortgage assignments* Identifies and mediates any potential loan origination/documentation issues that could expose the bank or investors/insurers to financial losses* Audits accounts for errors or inaccuracies and correct/update accounts while documenting account accordingly.* Effectively communicates critical information directly to bank customers, opposing counsel and supporting counsel by conveying that information clearly, accurately, honestly and concisely in accordance with bank, department and investorpoliciesandprocedures.* Adheres to Investor Servicing Requirements in regards to proper coding of accounts; notification* f property conditions, and monthly delinquency reporting to reduce fines by investors fornon-compliance driving positive investor/insurer reportable metrics.* Develops areas of expertise and company knowledge to improve customer service that will meet department, bank and investor objectives.* Efficiently manages a task-based workload task management and attorney follow-up that improves the financial performance of the bankruptcy portfolio and reduces credit losses to the bank and investors.* Initiates the relief process to prevent the continued depreciation of 5/3 and investor/insurer, in accordance with investor/insurer guidelines.* Maintains records, reports and files.SUPERVISORY RESPONSIBILITIES: NoneKNOWLEDGE & SKILLS REQUIRED:* Four-year college degree or equivalent work experience.* 2-3 years banking operations or bankruptcy legal experience* Demonstrates a functional knowledge of federal bankruptcy law, as well as specific state and local jurisdiction bankruptcy requirements.* Functional knowledge of mortgage servicing restrictions and guidelines* Functional knowledge and mastery of bankruptcy terminology.* Functional knowledge of RESPA/Investor/Insurer/CFPB/FCRA guidelines and regulations* Experience with Microsoft office products, such as Access, Word, Excel, PowerPoint and Outlook.* Excellent verbal and written communication skills.* Working knowledge of Federal bankruptcy code and laws.* Strong analytical skills and decisive decision-making skills.* Able to work in a team environment.* Ability to interact at a professional level with customers and attorneys.