Bankruptcy/Foreclosure Specialist I

Come join our GTE Financial team!

We are looking for an organized, professional, and strategic individual to join as a Foreclosure and Bankruptcy Specialist I. The Foreclosure and Bankruptcy Specialist I ensures that foreclosure, bankruptcy, and related processes comply with GTE, FNMA, FHA, and/or other investor timelines and guidelines while managing invoices, claims, and default reporting until the loan is liquidated, charged off, or otherwise resolved.

The Foreclosure and Bankruptcy Specialist I is responsible for managing and overseeing accounts and loans assigned to them as part of GTE's default mortgage servicing program. Candidates for this position would be experienced professionals with practical knowledge and experience related to collections, mortgage servicing, default mortgage servicing, or other applicable work experience.

What does GTE look for in a Foreclosure and Bankruptcy Specialist I?

Strategic:

• Collaborates with the Loss Mitigation Specialists and other members of the Member Resolution Department to ensure a seamless transition between processes.

• Initiate and manage foreclosure referrals within the required timelines, ensuring compliance with investor and applicable legal requirements.
• Act as the primary contact for attorneys and law firms handling foreclosure and bankruptcy proceedings, ensuring proper case management.
• Document all interactions with members or other parties, as applicable, by entering account notes into the system of record for all accounts or loans worked. Notes must be fact-based, accurate, and include relevant details. Notes must be entered in a timely manner. Must obtain and retain relevant supporting documentation, as applicable.
• Monitor and manage foreclosure/bankruptcy timelines to avoid compensatory fees or delays, coordinating necessary documentation.
• Ensure compliance with bankruptcy requirements, including timely filings of Notices of Appearance, Proofs of Claim, Motions for Relief, and other required documents.
• Prepare and validate the accuracy of monthly default reporting for Fannie Mae, FHA, and/or other investor loans, including filing Notices of Default.
• Manage post-foreclosure activities, including REO management and property preservation efforts.Continues working accounts through foreclosure and legal proceedings until the loan is liquidated, charged off, or otherwise resolved.
• Identify foreclosure alternatives, including modifications, short sales, and deeds-in-lieu, in line with investor requirements
• Perform MERS reconciliation for default and bankruptcy cases, ensuring accurate data tracking and reporting. Post payments for reinstatements and foreclosure payoffs.
• Ensure proper application of bankruptcy trustee payments, foreclosure reinstatements and foreclosure payoffs, confirming funds are allocated correctly per investor/insurer guidelines.
• Coordinate with loss mitigation teams to determine workout options before foreclosure progression and during bankruptcy status.

Operational:

• Receive, transfer, and process payments based on established departmental procedures and guidelines.
• Make decisions on when to exercise the credit union's right of offset, as applicable.
• Balance cash drawer daily.
• Attend and participate in default mortgage servicing-related meetings.

• Perform skip tracing, as required.

• Serve as the primary point of contact for responding to foreclosures and bankruptcies, ensuring compliance with Fannie Mae, VA, or other investor/insurer requirements.
• Manage attorney invoices and legal expenses, ensuring they are processed per investor guidelines and claims are filed appropriately.
• Routinely reviews FNMA, FHA, and other investor updates to ensure compliance with evolving guidelines. Ensure all actions align with FNMA and/or other investor servicing hierarchy and legal compliance.
• Demonstrates a functional understanding of short sales, foreclosures, "deed-in-lieu of foreclosure," and loss mitigation regarding REO properties. Demonstrates ability to initiate processes and make recommendations to facilitate such actions.
• Demonstrates understanding of Default Mortgage Servicing, including loss mitigation hierarchy for portfolio and Investor Loans.
• Demonstrate the ability to work independently while using discretion in making decisions and sound judgment in solving problems. Demonstrate the ability to adapt to changing work responsibilities and conditions. Demonstrate ability to meet regular deadlines to minimize delinquency, mitigate loss, and reduce or avoid troubled debt restructure (TDR) status.
• Demonstrate a working knowledge of relevant software or platforms, including the core operating system (OSI/DNA), collection package (Temenos), and commonly used office software such as Word, Excel, and Outlook.
• Demonstrates a functional knowledge of credit Union policies and procedures and all applicable laws, rules, regulations, and investor guidelines and requirements. These include but are not limited to: FDCPA, FCCPA, FNMA, FHA., Bank Secrecy Act (BSA), US Patriot Act, and OFAC.
• Demonstrates familiarity and proficiency with FNMA, VA, and FHA servicing platforms and applications.
• Provide support and cooperation for all functions and duties within the Member Resolution Department and organization to ensure seamless transition between processes, teams, and departments. Performs all other tasks and duties as assigned.

Customer Support:

• Communicate in a positive and professional manner. This includes both verbal and written communications.
• Demonstrate active listening and effective negotiation skills. Consistently seeks positive and mutually beneficial solutions.
• Make outbound and receive inbound calls, based on departmental needs.

• Proactively provides solutions and alternatives designed to best fit each member's unique situation while understanding and working with the multiple products (mortgages, consumer loans, credit cards, lines of credit, etc.) GTE Financial offers. Short-term solutions could include payment extensions and alternate payment programs; long-term solutions may include modifications and workout loans.
• Effectively manages the pipeline of member requests, ensuring that follow-up is completed as required and that all requests are tracked and documented.
• Bilingual preferred (English/Spanish).

Required Qualifications:

• High school diploma or equivalent
• The Foreclosure and Bankruptcy Specialist I is an entry-level position for candidates with 0 to 2 years of experience.

Position Details:

Location: Downtown Tampa - GTE Headquarters

Department Hours: Monday- Friday (8:00 am to 6:00 pm) // Saturday (9:00 am to 1:00 pm)

Full-time hours required, with additional hours as necessary to accomplish objectives, goals, and projects.

The work arrangement will primarily involve working onsite at our CFC locations and sometimes remotely or in the office. The position, however, is defined as hybrid in nature (in-office or remote) and may be changed at any time by management with appropriate notice, if possible.

Required for Hybrid Work:

• A quiet workplace so you can focus on delivering excellent service to our members.
• Some positions will require performance standards to be met to qualify for alternative work arrangements.
• Required to have power and high-speed internet over 100MB (minimum).
• Video capability (connection of 1.5 Mbps up and down recommended).
• Candidates must provide and meet all technical requirements prior to the first day of training.
• Hybrid candidates must live within driving distance of the office location and be able to regularly commute to and from the office location as needed.

Come and join our award-winning team!

GTE Financial is an Equal Opportunity Employer.

Note: The above statements describe the general nature and level of the work being performed and are not an exhaustive list of all responsibilities of an employee in this job. GTE Reserves the right to revise or change job duties at any time as directed by management. Furthermore, they do not establish a contract for employment and are subject to change at the discretion of the employer.