Bankruptcy Specialist

Bankruptcy Specialist

The Bankruptcy Specialist is responsible for the day-to-day administration of mortgage loans in active bankruptcy, ensuring all activities are performed in compliance with federal bankruptcy laws, investor guidelines, and mortgage servicing standards. This role manages case progression across all bankruptcy chapters (7, 11, 12, and 13), coordinates with legal counsel, and ensures timely completion of required filings, payment monitoring, and system updates.

Summary of Essential Job Functions

• Identify and update loans in the servicing system to accurately reflect bankruptcy status, chapter type, and key case details.
• Maintain and manage bankruptcy timelines across all chapters, ensuring compliance with court deadlines, investor requirements, and internal standards.
• Monitor case progression from filing through discharge, dismissal, or closure.
• Prepare, review, and coordinate the filing of Proofs of Claim (POCs) with attorneys, ensuring accuracy and timeliness.
• Review bankruptcy plans for completeness, feasibility, and compliance with investor guidelines.
• Initiate, track, and follow up on Motions for Relief from Stay, ensuring timely escalation when necessary.
• Process reaffirmation agreements and coordinate execution as required.
• Process and document case discharges and dismissals, ensuring proper system updates and next-step actions.
• Post and monitor pre-petition and post-petition payments, ensuring proper allocation and compliance with bankruptcy requirements.
• Maintain accurate system coding, comments, and transaction records related to bankruptcy payments.
• Review loans for final cure status and ensure accurate resolution and account maintenance.
• Process and track payment change notices, including escrow adjustments and ARM changes, ensuring proper filing and system updates.
• Ensure all activities comply with federal bankruptcy laws, CFPB requirements, GSE, and government insured guidelines (FNMA, FHLMC, FHA, VA, USDA, FHLB, FHA), and private investors.
• File and track post-petition fee notices in accordance with court and regulatory requirements.
• Maintain accurate documentation and audit-ready files for all bankruptcy accounts.
• Coordinate with internal departments (e.g., Escrow, Foreclosure, Loss Mitigation) to ensure proper handling of loans in bankruptcy. Respond to inquiries and resolve issues in a timely and professional manner.

Other Job Functions

• Coordinate and manage incoming and outgoing correspondence, including mail, email, and phone communications for bankruptcy accounts.
• Provide backup support for monitoring and responding to the bankruptcy email mailbox.
• Participate in all required departmental training sessions and BAI trainings.
• Support continuous improvement efforts by providing feedback on processes, identifying workflow gaps, and assisting with implementation of best practices.
• Perform additional duties and responsibilities as assigned by leadership, including special projects, audits, quality control initiatives, or cross functional support as business needs evolve.

Requirements

Education, Training and Work Experience

• High school diploma or equivalent required.
• Minimum 1 year of mortgage servicing experience required.
• Minimum 23 years of bankruptcy servicing experience preferred.
• Knowledge of MSP and Black Knight required.

Knowledge, Skills and Abilities

• Strong understanding of bankruptcy processes, timelines, and documentation requirements.
• Excellent attention to detail and accuracy.
• Strong organizational and time management skills with the ability to manage multiple deadlines.
• Maintain and foster strong, positive working relationships with customers, internal teams, and external business partners Complete all required training within established timelines.
• Communicate professionally and effectively in both verbal and written formats, ensuring clarity, and accuracy.
• Excellent organizational, time management, critical thinking & analytical skills.
• Prioritize tasks effectively and meet deadlines, while maintaining consistent precision and adherence to established procedures.
• Handle confidential and sensitive information responsibly, in accordance with company policies and regulatory requirements
• Build rapport and negotiate effectively, providing business oriented solutions for escalated issues and complex customer situations.
• Demonstrate a high level of dependability, reliability, and accountability in daily responsibilities.
• Compliance with all applicable regulations, internal controls, departmental procedures, and company policies.
• Proficiency in mortgage servicing systems (MSP) and Microsoft Office applications.
• Exhibit a high degree of accuracy and attention to detail.

Working Environment

Primary working environment is within an indoor climate-controlled office space and/or a private home office or some combination which will be at managements sole discretion. Employee may be subject to florescent lighting, dust, and other normal indoor allergens. Employee may work in close proximity of coworkers and occasionally independently in quiet environments.

Physical Requirements

• Able to lift up to 20 pounds
• Extended periods of sitting (at computer desk)
• Complete repetitive tasks (including operation of computer mouse/keyboard)

Disclaimer

The above statements are intended to describe the general nature and level of work being performed by people assigned to this classification. They are not to be construed as an exhaustive list of all responsibilities, duties, and skills required of personnel so classified. All personnel may be required to perform duties outside of their normal responsibilities from time to time, as needed.

**University Bank is an Equal Opportunity / Affirmative Action Employer**