Bankruptcy Analyst

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Job description

Overview:
Position: Bankruptcy Analyst

Location: Austin, TX- hybrid

Pay: $24.03- 31.25 DOE

Position Summary: The Bankruptcy Analyst reports to the Bankruptcy Manager. The primary role of the Analyst is to monitor residential mortgage loans in the bankruptcy process to minimize potential losses and preserve the lien-holder's interests. Conducts all activities in adherence to all applicable investor timelines. Performs all duties in accordance with company guidelines and applicable federal, state, and local regulations. The Analyst will manage loan portfolios through the current bankruptcy process and work with attorney firms to make sure all deadlines are met. They will be able to properly coordinate all work assignments timelines on multiple projects, by managing time constraints and prioritizing accordingly. The analyst will be responsible for developing working relationships with Bankruptcy Courts and Counsel.

Responsibilities:
Audits and reviews Bankruptcy Proof of Claims, Payment Change Notices, Notices of Post-Petition Fees and Costs, Motions for Relief, Agreed Orders and Notices of Default.

Evaluates Bankruptcy Plans and Case Status

Reviews payment histories and reconciles loans.

Assists the Cash Department with processing of trustee and borrower payments within MSP.

Research borrowers' disputes.

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 ledger, which ensures the accuracy and recoverability of investor assets.

Monitors AACER for U.S. Bankruptcy Court System case updates that impact the bank or investors assets included in the bankruptcy.

Applies payments received directly from borrowers and from Bankruptcy Trustees 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 corrects/updates 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 investor policies and procedures.

Adheres to Investor Servicing Requirements regarding proper coding of accounts; notification of property conditions, and monthly delinquency reporting to reduce fines by investors for non-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.

Attends court hearings and mediation conferences related to bankruptcy proceedings.

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.

Comply with all state and federal laws, regulations and investor and insurer guidelines.

Responsible for keeping abreast of relevant changes to investor/insurer guidelines, industry standards and client expectations. In particular, must keep up to date on all FHA, VA, USDA, PMI and FNMA/FHLMC servicing requirements and revisions.

Other duties may be assigned.

Qualifications:
Has knowledge of all Default Servicing processes up to and including Loss Mitigation, Bankruptcy, Foreclosure, Conveyance and Claims in addition to mortgage servicing state, federal and agency guidelines and timelines.

In depth knowledge of MSP, with at least (2) years recent experience working with MSP.

1-3 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

Working knowledge of Federal bankruptcy code and laws

Strong analytical skills and decisive decision-making skills

Ability to interact at a professional level with customers and attorneys.

Must be detail oriented and have excellent time management and organizational skills.

Ability to meet time deadlines while working under pressure.

Handles simultaneous tasks and projects in a fast-paced environment. Able to work independently and in a team environment.

Good business writing and business math skills.

Excellent verbal and written communication skills.

Strong PC skills. Must be proficient in MS Windows, MS Outlook, MS Office Suite, MS Visio and MS SharePoint.

Desired Education/Experience:

Bachelor's degree in finance, Accounting or Business Administration preferred. Will consider a combination of equivalent experience and education.

1-3 years banking operations or bankruptcy legal experience

Overall, 3+ years Mortgage Servicing or other relevant financial services industry experience.

Other Duties: This job profile is not intended to be an all-inclusive list of job duties and responsibilities, as one may perform additional related duties as assigned to meet the needs of the organization.

Physical Demands:

The physical demands described here are representative of those that must be met by an employee to successfully perform the essential functions of this job. Reasonable accommodations may be made to enable individuals with disabilities to perform the essential functions. Must be able to lift up to ten pounds. Primary functions require sufficient physical ability and mobility to work in an office setting; to stand or sit for prolonged periods of time; to occasionally stoop, bend, kneel, crouch, reach, and twist; to lift, carry, push, and/or pull light to moderate amounts of weight; to operate office equipment requiring repetitive hand movement and fine coordination including use of a keyboard; and to verbally communicate to exchange information. VISION: See in the normal visual range with or without correction. HEARING: Hear in the normal audio range with or without correction.

EOE/M/F/D/V. Drug-free workplace.

Work Authorization:

Must be able to verify identity and employment eligibility to work in the U.S.

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