Bankruptcy Coordinator

Company: ICONMA ( Learn More )

General Information
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Job Description

Location: Hurst, TX

Duration: 3 months


This individual will be reporting directly to the Bankruptcy Supervisor and Manager who reports to the Senior Vice President of Default Management. He/she will be responsible for monitoring residential and potentially some commercial bankruptcies (Chapters 7, 11, 12, and 13) from a creditor/component servicer perspective, hiring counsel to file proof of claims and motions for relief and any other bankruptcy documents. This position also includes monitoring various reports on a daily, weekly and monthly basis to ensure all events are worked pursuant to investor guidelines. He/she will identify, prioritize, research and track key bankruptcy processes, which will require interaction with outside counsel on a daily basis.

Essential Duties and Responsibilities

- Monitor status of all bankruptcy cases assigned to ensure all KPI’s (Key Performance Indicators) are met.

- Ensure the timely referral and filing of proofs of claims and requesting motions for reliefs and ensuring they are filed timely to remain in compliance with Investor.

- Review proof of claim and motion for relief reports on a weekly basis to ensure filed in accordance with investor guidelines.

- Communicate with local counsel daily to ensure that all events/issues that they are responsible for are being attended to in a timely manner.

- Responsible for bankruptcy plan review to identify treatment of lien and refer to counsel.

- Provide posting instructions on bankruptcy payments.

- Ensure payment change notifications are filed within 21 days of the effective date of payment change.

- Respond to Notice to Cure and Deem Current Matters timely and any other time sensitive pleadings to prevent losses to the company.

- Verify if a demand letter is required upon closing of the bankruptcy.

- Interact with Asset Management when a customer is seeking court approval for a loan modification.

- Seek Investor(FHLMC) approval as required in a timely manner

- Ensure management and investor is aware when debtor intends to substantially reduce our debt or claim amount (cram down/motion for valuations).

- Respond to incoming customer calls regarding bankruptcy.

- Handle preliminary bankruptcy related research on customer disputes.

- Process invoices for payments weekly.

- Special projects as assigned by management.

Component Service Duties and Responsibilities:

Component Service means that client partners with a full service bank and we are responsible for handling the bankruptcy, foreclosure and asset management functions. We provide but are not limited to the following component servicing duties:

- Remote into their system to access loan information.

- Processing payoff requests and completing funds application forms when payoff funds received.

- Responsible for working monthly billing statement reports.

- Responsible for working monthly stop bill reports.

- Responsible for state required monthly fee reporting.

- Review 1098 year end statements and submit corrections in a timely fashion.

- Review and provide research to escalated customer inquiries that require extensive research in a timely manner.

- Provide authorization to disburse taxes and insurance.

- Access their imaging system to obtain loan documents.

- Open various tasks to request loan documents and or assignments needed; system adjustment/reversal requests; provide payoff and payment application instructions; check requests; payment histories

- Access a website link or email box to request payment histories or miscellaneous documents not available in imaging system.

Physical Demands and Work Environment

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.

While performing the duties of this job, the employee is regularly required to sit and use hands to finger, handle, or feel objects, tools, or controls. The employee frequently is required to talk and hear. The employee is occasionally required to stand; walk; reach with hands and arms. The employee is rarely required to stoop, kneel, crouch, or crawl.

The employee must regularly lift and/or move up to 10 pounds. Specific vision abilities required by this job include close vision, and the ability to adjust focus.

The noise level in the work environment is usually moderate.

Job Requirements

Skills/Knowledge Requirements:

- Strong analytical and problem-solving skills

- Ability to work independently and be a self-starter.

- Ability to meet deadlines and maintain focus under pressure.

- Ability to interface with multiple departments, scope out projects and interface with IT/LPS Desktop/FHLMC to enhance reporting capabilities.

- Strong oral and written communication skills.

- Strong research and audit skills.

- Willingness and aptitude to learn new tasks

- Basic accounting/mathematics knowledge to complete a reconciliation/breakdown of payments and fees due on the loan.

- Willingness and ability to work in a fast paced environment and to handle a large volume of cases/loans.

- Ability to maintain confidentiality and ensure borrower(s) loan information is secure.

- Professional demeanor and appearance.

Education/Experience Requirements:

- Proven success in taking business needs and translating to reporting deliverables.

- 1 to 2 years’ experience in a reporting environment.

- 1 to 2 years bankruptcy paralegal or bankruptcy servicing experience.

- 1 to 2 years of Accounts Receivable/Payable or related experience.

- Basic familiarity with the Federal Bankruptcy Code.

- Basic familiarity with Aacer Monitoring.

- Knowledge/experience with MSP/ LPS Desktop.

- Proficiency in MS Excel, MS Word and MS Outlook.

- Basic knowledge of FHLMC servicing guidelines and systems a plus.

- Basic familiarity of Foreclosure (Judicial/Non Judicial) process a plus.