Loss Mitigation Specialist III (US)
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About The Position
The Loss Mitigation Specialist III plays a crucial role in managing and mitigating potential losses from problem accounts within TD Bank. This position specializes in various areas including Loss Mitigation, Bankruptcy, Probate, and Workout, focusing on the initiation and resolution of bankruptcy, foreclosure, and workout activities for assigned accounts. The specialist is responsible for homeownership counseling activities, negotiating workout solutions, and ensuring the prompt resolution of legal matters related to these accounts. In this role, the specialist will resolve escalated issues by collaborating with staff, internal departments, and external contacts as necessary. They will also provide training and mentoring to new and less experienced staff, contributing to the development of operating policies and procedures. The specialist will work directly with customers or their agents to address delinquency and manage continued legal actions or adverse actions. The position requires the specialist to execute various legal documents such as deeds, security agreements, and affidavits necessary for the proper servicing and collection of loan debt. They will coordinate with attorneys, trustees, and debtors to research estates in bankruptcy, probate, or workout situations across different states, aiming to minimize losses and maximize recoveries. Additionally, the specialist will oversee asset sales and other collection activities to ensure maximum payback for company-owned property, completing necessary account documentation and involving inside and outside personnel as needed. Overall, the Loss Mitigation Specialist III is integral to the bank's efforts in loss prevention and recovery, requiring a deep understanding of bankruptcy law, foreclosure procedures, and effective collection practices.
