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Consumer Bankruptcy Specialist at Valley Bank

Valley Bank

Full-Time

Fairfield, NJ, US

Not defined

25 Dec → 24 Jan

Expired

Job Description

The Consumer Bankruptcy Specialist will be responsible for managing, maintaining and monitoring all Bankruptcy referrals for Valley Consumer Loans.

Responsibilities include but are not limited to:
• Review all incoming bankruptcy petitions/filings/motions and perform necessary research to ensure that related accounts are properly coded and segregated from general account population.
• Make recommendations to Management regarding a course of action to protect the Bank's interests.
• Review all files to ensure full compliance with investor and bank guidelines as well as Federal bankruptcy regulations.
• Assign files to 3rd party legal counsel with instructions on handling.
• Prepare payoff and pre-petition arrears figures and work with outside counsel on court filings including filing Proof of Claims, Reaffirmation Agreements and Motions for Relief from the Automatic Stay.
• Order and review monthly property inspections for accounts in bankruptcy and review for accuracy.
• Prepare, maintain and monitor weekly and monthly reports for investors and Bank Management.
• Monitor attorney efforts to ensure filing timelines are being adhered to pursuant to Bank, Investor and Federal bankruptcy guidelines.
• Review and process invoices from attorneys and 3rd party vendors.
• Ensure that bankruptcy accounts are being properly reported to the appropriate credit reporting agencies.
• Keep abreast of all changes to regulatory and investor requirements relating to bankruptcy and adjust policies and procedures as warranted.

Job Responsibilities

  • The Consumer Bankruptcy Specialist will be responsible for managing, maintaining and monitoring all Bankruptcy referrals for Valley Consumer Loans
  • Review all incoming bankruptcy petitions/filings/motions and perform necessary research to ensure that related accounts are properly coded and segregated from general account population
  • Make recommendations to Management regarding a course of action to protect the Bank's interests
  • Review all files to ensure full compliance with investor and bank guidelines as well as Federal bankruptcy regulations
  • Assign files to 3rd party legal counsel with instructions on handling
  • Prepare payoff and pre-petition arrears figures and work with outside counsel on court filings including filing Proof of Claims, Reaffirmation Agreements and Motions for Relief from the Automatic Stay
  • Order and review monthly property inspections for accounts in bankruptcy and review for accuracy
  • Prepare, maintain and monitor weekly and monthly reports for investors and Bank Management
  • Monitor attorney efforts to ensure filing timelines are being adhered to pursuant to Bank, Investor and Federal bankruptcy guidelines
  • Review and process invoices from attorneys and 3rd party vendors
  • Ensure that bankruptcy accounts are being properly reported to the appropriate credit reporting agencies
  • Keep abreast of all changes to regulatory and investor requirements relating to bankruptcy and adjust policies and procedures as warranted

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