Loss Mitigation Specialist III (US)

TD • Portland, ME

2d • $26 - $39

About The Position

Depth & Scope: Initiates processing and resolution of bankruptcy, foreclosure and workout activities for assigned accounts, focusing on homeownership counseling activities and negotiating workout solutions and ensuring prompt resolution of legal matters Resolves escalated issues and problems by conferring with staff, other internal departments, outside contacts and others as necessary Provides training and mentoring for new and less experienced staff Participates in the development of operating policies and procedures Works with Customers or agents of Customers to resolve delinquency and continued legal action or adverse action Authorized to execute items such as deeds, security agreements, financing statements, assignments, releases, affidavits, and other instruments incident to those documents listed and necessary to carry out and effectuate the proper servicing and/or collection of loan debt to the bank Provides technical guidance and assists staff with the most complex aspects of work as necessary Coordinates with attorneys, trustees, debtors and others to research estates in bankruptcy, probate or workout in various states to minimize losses and maximize recoveries Coordinates subsequent asset sales and other collection and recovery activities to secure maximum payback for Company owned property Completes necessary account documentation, involving inside and outside personnel as needed Initiates loss mitigation activities after approval of foreclosure; Coordinates asset sales and other collection and recovery activities to secure maximum payback for Company owned property

Requirements

• Associate's degree or work experience equivalent to associate's degree required
• 3+ years' experience required
• Proven knowledge and experience in effective collection regulations, techniques and practices
• Detailed knowledge of loan agreements and security agreements
• Ability to apply understanding of bankruptcy law, principles and practices related to real estate transactions to accounts managed
• Knowledge of real estate investor and insurer guidelines
• Knowledge of foreclosure procedures and legal and regulatory guidelines, including mobile homes and agency loans (VA, HUD and others)
• Knowledge of legal regulations relating to real estate resale after foreclosure
• Communication skills, both verbal and written
• PC skills
• Detailed knowledge of bankruptcy law, including Chapters 13 and 7, probate and/or workout law
• Knowledge of bankruptcy legal procedures, including Relief from Stay, property abandonment, Proofs of Claim, conversion of Chapter 13 to 7 and Chapter 13 repayment plans
• Knowledge of foreclosure procedures and legal and regulatory guidelines, including mobile homes and agency loans (VA, HUD and others)
• Knowledge of workout options
• Knowledge of specific regulations in various states in which Company does business
• Ability to apply understanding of bankruptcy law, principles and practices related to real estate transactions to accounts managed
• Knowledge of real estate investor and insurer guidelines
• Knowledge of legal regulations relating to real estate resale after foreclosure
• Communication skills, both verbal and written

Responsibilities

• Initiates processing and resolution of bankruptcy, foreclosure and workout activities for assigned accounts
• Focuses on homeownership counseling activities and negotiating workout solutions and ensuring prompt resolution of legal matters
• Resolves escalated issues and problems by conferring with staff, other internal departments, outside contacts and others as necessary
• Provides training and mentoring for new and less experienced staff
• Participates in the development of operating policies and procedures
• Works with Customers or agents of Customers to resolve delinquency and continued legal action or adverse action
• Authorized to execute items such as deeds, security agreements, financing statements, assignments, releases, affidavits, and other instruments incident to those documents listed and necessary to carry out and effectuate the proper servicing and/or collection of loan debt to the bank
• Provides technical guidance and assists staff with the most complex aspects of work as necessary
• Coordinates with attorneys, trustees, debtors and others to research estates in bankruptcy, probate or workout in various states to minimize losses and maximize recoveries
• Coordinates subsequent asset sales and other collection and recovery activities to secure maximum payback for Company owned property
• Completes necessary account documentation, involving inside and outside personnel as needed
• Initiates loss mitigation activities after approval of foreclosure
• Coordinates asset sales and other collection and recovery activities to secure maximum payback for Company owned property

Benefits

• Total Rewards at TD includes base salary and variable compensation/incentive awards (e.g., eligibility for cash and/or equity incentive awards, generally through participation in an incentive plan) and several other key plans such as health and well-being benefits, savings and retirement programs, paid time off (including Vacation PTO, Flex PTO, and Holiday PTO), banking benefits and discounts, career development, and reward and recognition.

What This Job Offers

• Job Type: Full-time
• Career Level: Mid Level
• Education Level: Associate degree
• Number of Employees: 5,001-10,000 employees