Fifth Third Bank

Mortgage Bankruptcy Specialist II

Posted 2 Days Ago

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Cincinnati, OH

Junior

Fintech

The Role

As a Mortgage Bankruptcy Specialist II, you will manage bankruptcy accounts, ensuring compliance with federal and state regulations, and providing legal support through research and documentation. Responsibilities include evaluating accounts, creating Proofs of Claim, monitoring bankruptcy cases, resolving payment disputes, and improving customer service while managing a caseload of approximately 400 accounts valued at $43 million.

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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 7/11/12/13 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 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 investor policies and procedures.
Adheres to Investor Servicing Requirements in regards to 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.
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: None

KNOWLEDGE & 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.

Mortgage Bankruptcy Specialist IILOCATION -- Cincinnati, Ohio 45227

Fifth Third Bank, National Association is proud to have an engaged and inclusive culture and to promote and ensure equal employment opportunity in all employment decisions regardless of race, color, gender, national origin, religion, age, disability, sexual orientation, gender identity, military status, veteran status or any other legally protected status.