Bankruptcy Specialist II

Founded in early 2008, Fay Servicing is committed to providing innovative servicing solutions for both performing and non-performing mortgage loans. As a specialty mortgage servicer who sees the customer behind every loan, we understand that our customers aren't loan numbers - they're homeowners.

Before founding our company, we conducted an exhaustive analysis of the mortgage servicing industry and gained valuable insight into the problems facing mortgage servicers and their customers. With that insight, we set out to build a different kind of servicing company from the ground up.

Come join us on our journey to serve our customers and be the leader in our industry! We are currently looking for a Bankruptcy Specialist II to join our team.

The Bankruptcy Specialist II will have a background in bankruptcy, debt collection, or residential mortgage law. They will be detail-oriented, resourceful, diligent, and organized, have strong negotiation skills, excellent communication skills (verbal and written), have the ability to prioritize and meet deadlines in a fast-paced work environment, and have the ability to lead groups to department goals. The Bankruptcy Specialist II must be able to use MSP and be proficient with respect to LPS Desktop loan management systems.

What you will do for Fay:

• Ensure assigned bankruptcy loans are handled in accordance with Company policies and procedures, Investor guidelines, state laws, and Federal Bankruptcy code and regulating agencies
• Review plans and determine whether the plan is acceptable to investors and recommend action to protect the lien
• Promptly refer bankruptcy loans to the outside counsel to initiate the filing of a proof of claim, objection to plan, motion for relief, transfer of claims, etc. within Court, company and investor imposed deadlines
• Monitor bankruptcy timelines to ensure outside counsel is completing bankruptcy milestones timely, and communicate with attorney firms when necessary to get work completed
• Release loans to Production and/or Foreclosure upon the termination of the Bankruptcy stay
• Review and execute signature-required documents for court proceedings
• Analyze issues, discover the root cause, and communicate solutions to management
• Utilize and document MSP and LPS Desktop servicing platforms to manage bankruptcy processes, complete required tasks on loans, and maintain accurate status information
• Complete and review regular AACER searches of the entire loan portfolio to ensure prompt discovery of bankruptcy filings
• Process bankruptcy loans in compliance with Company policies and procedures, investor guidelines, state laws, Federal Bankruptcy code, and regulating agencies
• Refer loans to outside counsel in a timely manner and monitor work assigned to firms
• Provide backup for the team lead where appropriate
• Pull reports to be distributed to staff and possess skills to review reports
• Train and educate Bankruptcy Specialists I
• Review, prioritize, and provide timely and accurate responses to tasks, intercoms, email, etc.
• Review, follow-up, and provide timely escalation of issues and holds for approval
• Analyze information on a situation, problem, loan, or borrower, and make appropriate recommendations on actions

What you will bring to Fay:

• Bachelor's degree; High school diploma/GED required
• At least 3 - 5 years of experience with bankruptcy litigation support
• Must be able to correctly complete mortgage calculations related to bankruptcy, including figures for proof of claim, motion for relief, and other events
• Possess knowledge of payment histories and audit of financial information
• Understanding of mortgage documents, including collateral documents
• At least 3 - 5 years of experience using LPS desktop and/or MSP
• Possess knowledge of payment histories and audit of financial information
• Excellent verbal and written communication skills, organized, and excellent time management
• Excellent problem-solving and analytical skills
• Proficiency with LPS Desktop, MSP, MS Word, Adobe Acrobat, Outlook, and Excel
• 3 - 5 years of experience in mortgage banking

Diversity, Equity, and Inclusion are deeply embedded into our way of working at Fay. We believe that the best ideas come from having a team that is diverse in backgrounds, experiences, and perspectives. We strive to ensure each of our employees feels valued, respected, and included and is presented with equal opportunities to be successful here at Fay. We are proud to be an equal opportunity workplace. The Fay Group and affiliated companies participate in E-Verify. For more information go to www.dhs.gov/E-Verify. E-Verify is a registered trademark of the U.S. Department of Homeland Security.

Location: Farmers Branch, TX, US

Posted Date: 9/27/2024