Bankruptcy Specialist

Servicing Default | Hybrid Remote, Plano, Texas


Description

Position at loanDepot

loanDepot, America's lender, matches borrowers through technology and high-touch customer care with the credit they need to fuel their lives.  We take the responsibility of being the second largest non-bank lender seriously.  loanDepot’s long term commitment begins at origination continuing with long term support through our in house servicing teams. Our loanDepot servicing division puts our customers first, promotes teamwork & provides our employees with the fuel needed to succeed in their careers. Come join us!

loanDepot — We are America’s Lender.

Position Summary:

Responsible for conducting day to day operations in assigned area(s) of focus in the loan servicing cycle related to bankruptcy administration. Works with vendors to complete the bankruptcy process, while ensuring compliance with regulatory entities, statutory requirements, investor and insurance guidelines, and vendor adherence to contractual terms. This position ensures the performance of all duties in accordance with the company’s policies and procedures, all U.S. state and federal laws and regulations, wherein the company operates.

Responsibilities:

  • Monitors and resolves bankruptcy matters with vendors to complete the bankruptcy process in a timely manner.
  • Responsible for administering the bankruptcy notification process.
  • Researches and responds to investor and regulatory audit requests.
  • Conducts oversight of Outsource Asset Management vendors by using effective measurement of metrics.
  • Maintains communication with all business units, most notably: Loss Mitigation, Default Services, General Counsel, attorneys and vendors.
  • Monitors changes in statutory, regulatory, investor and insurer guidelines and requirements.
  • Provides timely recognition and review of items that must be escalated to legal and proper departments; researches and resolves global and loan level issues.
  • Monitors monthly, weekly and daily exception reports to ensure accuracy of production.
  • Strives to achieve the highest net recovery possible by minimizing the expense of management, insuring effective timeline management..

Requirements:    

  • Minimum of three (3) years’ experience in administration and servicing loans in Bankruptcy required.
  • Minimum of one (1) year experience and shown proficiency in Black Knight Financial Services (MSP/BKFS) and LoanSphere servicing systems required.
  • Demonstrates knowledge of, adherence to, monitoring and responsibility for compliance with investor, insurer, state and federal regulations and laws as they pertain to this position.
  • Good working knowledge of all aspects of loan administration and loan servicing.
  • Good working knowledge of audit and oversight protocols.
  • Proficient knowledge of investor guidelines and servicing practices.
  • Proficient knowledge in cash processing, including, but not limited to, payments (pre- and post-petition) and corporate advances.
  • Proficient knowledge of 1st lien/2nd lien bankruptcy processes to provide vendors with proper instructions to minimize loss.
  • Minimum of five (5) years’ experience in the Mortgage Servicing industry preferred.
  • Experience working within Federal and State regulations related to Mortgage Servicing.
  • Experience working within investor and insurer guidelines related to FNMA, FHLMC, GNMA, VA, FHA and USDA.
  • High School Degree or equivalent required; Bachelor’s degree preferred.
Why work for #teamloanDepot:
  • Aggressive earning potential and 401K with robust company match.
  • Inclusive, diverse and collaborative culture where people from all backgrounds can thrive
  • Work with other passionate, purposeful and customer-centric people.
  • Extensive internal growth and professional development opportunities including tuition reimbursement.
  • Comprehensive benefits package including Medical/Dental/Vision.
  • Wellness program to support both mental and physical health.
  • Generous paid time off for both exempt and non-exempt positions.

We are an equal opportunity employer and value diversity in our company. We do not discriminate based on race, religion, color, national origin, gender, sexual orientation, age, marital status, veteran status, or disability status.