Consumer Default Specialist

Consumer Default Specialist I

Position Summary:

The Consumer Default Specialist I performs a variety of administrative and legal duties related to foreclosure, bankruptcy, repossession, litigation recovery, and loss mitigation processes. The role interacts with borrowers, legal counsel, and bank officials to find solutions that maximize recovery of adversely graded and non‑performing loans.

• Process foreclosure actions for consumer portfolio from cradle to grave.
• Generate and review all legal documents and notices associated with foreclosures for accuracy.
• Consult with the bank’s legal counsel to determine proper foreclosure solutions cost‑effective for the bank.
• Prepare bidding instructions for foreclosure sales.
• Prepare and generate reinstatement and payoff figures and process receipt of funds.
• Document all credit actions, borrower communications, bank counsel approvals, and required records in the core collection system and imaging system.
• Ensure compliance with applicable laws, regulations, policies, and procedures and complete required compliance training.
• Perform other duties and responsibilities as assigned.

• Process bankruptcy actions for consumer portfolio from cradle to grave.
• Prepare, generate, and review all legal documents and notices associated with bankruptcy process for accuracy.
• Process and document all bankruptcy checks received by trustee.
• Consult with the bank’s legal counsel to determine proper bankruptcy solutions cost‑effective for the bank.
• Prepare and generate reinstatement and payoff figures and process receipt of funds.
• Document all credit actions, borrower communications, bank counsel approvals, and required records in the core collection system and imaging system.
• Ensure compliance with applicable laws, regulations, policies, and procedures and complete required compliance training.
• Perform other duties and responsibilities as assigned.

• Process repossession/replevin actions for consumer portfolio from cradle to grave.
• Generate and review all legal documents and notices associated with repossessions/replevins for accuracy.
• Consult with the bank’s legal counsel to determine proper repossession/replevin solutions cost‑effective for the bank.
• Prepare bidding/floor instructions for auction.
• Prepare and generate reinstatement and payoff figures and process receipt of funds from auction and borrowers.
• Document all credit actions, borrower communications, bank counsel approvals, and required records in the core collection system and imaging system.
• Ensure compliance with applicable laws, regulations, policies, and procedures and complete required compliance training.
• Perform other duties and responsibilities as assigned.

• Process judgment/garnishment actions for consumer portfolio from cradle to grave.
• Generate and review all legal documents and notices associated with judgments/garnishments for accuracy.
• Consult with the bank’s legal counsel to determine proper judgment/garnishment solutions cost‑effective for the bank.
• Prepare payment arrangements/settlement agreements for borrowers pending a judgment/garnishment.
• Prepare and generate reinstatement and payoff figures and process receipt of funds from borrowers.
• Document all credit actions, borrower communications, bank counsel approvals, and required records in the core collection system and imaging system.
• Ensure compliance with applicable laws, regulations, policies, and procedures and complete required compliance training.
• Perform other duties and responsibilities as assigned.

• Process loss mitigation process for consumer portfolio from cradle to grave.
• Prepare, generate, and review all loss mitigation letters sent to borrowers during the process for accuracy.
• Process and document all loss mitigation application documents received by the borrower.
• Communicate with customers, real estate agents, and authorized third parties on the loss mitigation options offered by Simmons and how to apply.
• Serve as a liaison between all areas of default to ensure dual tracking is avoided.
• Document all credit actions, borrower…