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TD · 1 month ago

Loss Mitigation Specialist III - Foreclosure Specialist (US)

1 Portland Square, Portland, Maine

Full-time

Hybrid

Mid Level

$25.75/hr - $38.50/hr

3+ years exp

TD Bank is one of the world's leading global financial institutions, and they are seeking a Loss Mitigation Specialist III to manage activities related to reducing potential losses from problem accounts. This role involves processing bankruptcy and foreclosure activities, training staff, and coordinating with various stakeholders to resolve issues and maximize recoveries.

BankingFinanceFinancial ServicesWealth Management

Responsibilities

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

Qualification

Loss MitigationBankruptcy LawForeclosure ProceduresReal Estate GuidelinesCollection RegulationsPC SkillsCommunication Skills

Required

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 workout options

Knowledge of specific regulations in various states in which Company does business