200 Executive Blvd South-HF433
If you're looking for a meaningful career, you'll find it here at Webster. Founded in 1935 by Harold Webster Smith, our focus has always been to put people first--doing whatever we can to help individuals, families and businesses achieve their financial goals. And while we've grown into a leading commercial bank, we remain passionate about serving our customers, supporting our communities, and making a difference in people's lives. We can make a difference in your life, too. By empowering you to build the meaningful career you've been looking for.
Responsibility, respect, trust, teamwork and citizenship are the values on which Webster was founded. Together we call them The Webster Way, and they are what set us apart as a bank and an employer. Guided by these values, we put people first - working hard to live up to our customers, and each other, every day.
The incumbent will manage a portfolio of consumer Bankruptcy loans, taking timely & appropriate actions in accordance with Bank policy and procedure and Investor/Insurer Guidelines, as applicable. They will file timely, accurate Proofs of Claim, monitor payments and case activity, consulting with assigned counsel as necessary to protect the interest of the Bank.
* Monitor daily Service of Process activity for bankruptcy related notices.
* Promptly code loans on ALS, MSP and PM, as bankruptcy milestones occur.
* Strategically action Chapter 7, 11, 12 and 13 accounts in accordance with federal and state law, bank policy and investor/insurer guidelines as appropriate.
* Ensure Investor and Insurer delinquency reporting
* Ensure accurate and timely Credit Bureau Reporting for loans in bankruptcy
* Assign legal counsel as required by investor, insurer or bank policy
* Provide accurate data and ensure timely filing of Proofs of Claims, Motions for Relief or other filings necessary to protect the Bank's asset.
* Prepare accurate and timely communications to the borrower, debtor's counsel and the bankruptcy court as required by internal policy and procedure, regulation and/ or Investor and Insurer guidelines.
* Monitor proposed debtor plans, ensuring that tour debt is accurately reflected and that the system of record is updated as appropriate.
* Where applicable, make accurate and timely recommendations for changes to the accrual, charge off or Troubled Debt Restructure status of the loans.
* Manage documentation to ensure files are properly organized and scanned to ONBASE for long term retention following applicable milestones in the bankruptcy process.
* Prepare documents for periodic audits, exams or reviews by internal of external parties.
* Assist R & R Bankruptcy Manager with other projects and initiatives as required.
This job is in the mid level of a career path
High School / GED required.
BS preferred -- 4 Year degree in Business or Liberal Arts or Paralegal
Specialized training -- working knowledge of MSP, ALS and Process Management, regulatory requirements regarding consumer Bankruptcy legal procedures, Investor/Insurer guidelines, ability to independently review Bankruptcy pleadings
2 -- 4 years of related experience --
Prior experience as in Consumer Collections, Loss Mitigation or as a Legal Specialist/Paralegal preferred;
Related experience working with bankruptcy cases strongly preferred;
Experience with the ALS and or MSP core lending applications and the Black Knight Loan Sphere (aka
Process Management) system preferred; Alternately, will consider other experience through which
knowledge of GSE and Insurer guidelines, bankruptcy/foreclosure rules was gained
Excellent oral and written communication skills
Strong organizational skills
Product knowledge of Consumer/Residential mortgages and HELOC
Ability to lead by example
Excellent organizational and documentation skills
Knowledge of consumer loan default servicing activities
Knowledge of federal rules, varying practices by jurisdiction, Investor and Insurer guidelines for loans in bankruptcy
Proficiency working with numbers and detailed documentation
Able to work independently and meet tight deadlines with a minimum of supervision.
Must be PC and Microsoft Office proficient (including excel)
Job Reference #: 5000484070106