Consumer Default Specialist I

SIMON•Little Rock, AR

About The Position

It's fun to work in a company where people truly BELIEVE in what they're doing! We're committed to bringing passion and customer focus to the business. 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. The Consumer Default Specialist I interacts with borrowers, legal counsel, and other bank officials to find solutions that maximize the recovery of adversely- graded and non-performing loans.

Requirements

Ability to read and comprehend simple instructions, short correspondence and memorandums.
Ability to read and interpret documents such as procedure manuals, general business correspondence and/or journals or governmental regulations.
Ability to read, analyze and interpret financial reports and/or legal documents.
Ability to write routine reports and business correspondence.
Ability to respond in writing to customer complaints, regulatory agencies or members of the business community.
Ability to effectively present information in one-on-one and small group situations, to customers, clients and other employees in the organization.
BS/BA Degree in Business, Finance, or a related field is required, or
Four to six years of work-related, on-the-job training, and/or vocational training.
MS Office programs
Strong time management, oral, written, and presentation skills.

Responsibilities

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 along with processing receipt of funds
Ensure that all credit actions and communications with borrowers, bank counsel approvals, and documentation are appropriately documented on the bank’s core collection system and scanned and indexed to the bank’s imaging system.
Ensure all departmental documents and activities are performed in compliance with applicable laws, regulations, policies and procedures as applicable to this position, including completion of required compliance training.
Performs 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.
Processes and documents all bankruptcy checks received by trustee
Prepare and generate reinstatement and payoff figures along with processing receipt of funds
Consult with the bank’s legal counsel to determine proper bankruptcy solutions that are cost effective for the bank.
Ensure that all credit actions and communications with borrowers, bank counsel approvals, and documentation are appropriately documented on the bank’s core collection system and scanned and indexed to the bank’s imaging system.
Ensure all departmental documents and activities are performed in compliance with applicable laws, regulations, policies and procedures as applicable to this position, including completion of required compliance training.
Performs 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 that are cost effective for the bank.
Prepare bidding/floor instructions for auction.
Prepare and generate reinstatement and payoff figures along with processing receipt of funds from auction and borrowers.
Ensure that all credit actions and communications with borrowers, bank counsel approvals, and documentation are appropriately documented on the bank’s core collection system and scanned and indexed to the bank’s imaging system.
Ensure all departmental documents and activities are performed in compliance with applicable laws, regulations, policies and procedures as applicable to this position, including completion of required compliance training.
Performs 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 that are cost effective for the bank.
Prepare payment arrangements/settlement agreements for borrower’s pending a judgment/garnishment
Prepare and generate reinstatement and payoff figures along with processing receipt of funds from borrowers.
Ensure that all credit actions and communications with borrowers, bank counsel approvals, and documentation are appropriately documented on the bank’s core collection system and scanned and indexed to the bank’s imaging system.
Ensure all departmental documents and activities are performed in compliance with applicable laws, regulations, policies and procedures as applicable to this position, including completion of required compliance training.
Performs 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 the borrowers during the loss mitigation process
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 that Simmons offers and how to apply for them
Serve as a liaison between all areas of default to ensure dual tracking is avoided
Ensure that all credit actions and communications with borrowers, bank counsel approvals, and documentation are appropriately documented on the bank’s core collection system and scanned and indexed to the bank’s imaging system
Ensure all departmental documents and activities are performed in compliance with applicable laws, regulations, policies and procedures as applicable to this position, including completion of required compliance training
Performs other duties and responsibilities as assigned.
Process repayment plans for consumer portfolio from cradle to grave.
Prepare, generate, and review for accuracy all repayment plan letters sent to the borrowers
Processes and documents payments received by the borrowers
Ensure that all communications with borrowers and authorized third parties are appropriately documented on the bank’s core collection system and scanned and indexed to the bank’s imaging system.
Ensure all departmental documents and activities are performed in compliance with applicable laws, regulations, policies and procedures as applicable to this position, including completion of required compliance training.
Performs other duties and responsibilities as assigned.
Identify and determine successor in interest qualifications
Process and review accounts for potential estate claims
Prepare, generate, and review for accuracy all correspondence sent to the borrower’s heirs/estate
Ensure that all credit actions and communications with borrowers, bank counsel approvals, and documentation are appropriately documented on the bank’s core collection system and scanned and indexed to the bank’s imaging system
Ensure all departmental documents and activities are performed in compliance with applicable laws, regulations, policies and procedures as applicable to this position, including completion of required compliance training.
Performs other duties and responsibilities as assigned.