Consumer Default Specialist

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 process, interacting with borrowers, legal counsel, and other bank officials to find solutions that maximize the recovery of adversely‑graded and non‑performing loans.

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

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

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

• Process judgement/garnishment actions for consumer portfolio from cradle to grave.
• Generate and review for accuracy all legal documents and notices associated with judgements/garnishments.
• Consult with the bank’s legal counsel to determine proper judgment/garnishment solutions.
• 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.
• Ensure all credit actions and communications are documented on the bank’s core collection system and scanned and indexed.
• Ensure compliance with applicable laws, regulations, policies and procedures, including completion of 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 for accuracy all loss mitigation letters sent to borrowers.
• Process and document all loss mitigation application documents received by the borrower.
• Communicate with customers, real estate agents, and other authorized third parties on the loss mitigation options offered.
• Serve as a liaison between all areas of default to ensure dual tracking is avoided.
• Ensure all credit actions and communications are documented on the bank’s core collection system and scanned and indexed.
• Ensure compliance with…