Loss Mitigation Specialist III- Mortgage - Portland

Work Location: · Portland, Maine, United States of AmericaHours: · 40Pay Details: · $ $38.50 USDTD is committed to providing fair and equitable compensation opportunities to all colleagues. Growth opportunities and skill development are defining features of the colleague experien ...

Job description

Work Location:

Portland, Maine, United States of America

Hours:

40

Pay Details:

$ $38.50 USD

TD is committed to providing fair and equitable compensation opportunities to all colleagues. Growth opportunities and skill development are defining features of the colleague experience at TD. Our compensation policies and practices have been designed to allow colleagues to progress through the salary range over time as they progress in their role. The base pay actually offered may vary based upon the candidate's skills and experience, job-related knowledge, geographic location, and other specific business and organizational needs. 

As a candidate, you are encouraged to ask compensation related questions and have an open dialogue with your recruiter who can provide you more specific details for this role.

Line of Business:

Personal & Commercial Banking

Job Description:

The Loss Mitigation Specialist III performs a variety of activities related to reducing potential losses from problem accounts.  Specializes in or leads the activities of one or more of the following areas:  Loss Mitigation, Bankruptcy, Probate, and Workout.

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

Education & Experience:

• 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

Preferred Qualifications:

• Default Management
• Loss Mitigation Underwriting experience
• Escalation issue management experience
• Operation process and development experience
• Mortgage/HELOC experience

Physical Requirements:

Never: 0%; Occasional: 1-33%; Frequent: 34-66%; Continuous: 67-100%

• Domestic Travel – Occasional
• International Travel – Never
• Performing sedentary work – Continuous
• Performing multiple tasks – Continuous
• Operating standard office equipment - Continuous
• Responding quickly to sounds – Occasional
• Sitting – Continuous
• Standing – Occasional
• Walking – Occasional
• Moving safely in confined spaces – Occasional
• Lifting/Carrying (under 25 lbs.) – Occasional
• Lifting/Carrying (over 25 lbs.) – Never
• Squatting – Occasional
• Bending – Occasional
• Kneeling – Never
• Crawling – Never
• Climbing – Never
• Reaching overhead – Never
• Reaching forward – Occasional
• Pushing – Never
• Pulling – Never
• Twisting – Never
• Concentrating for long periods of time – Continuous
• Applying common sense to deal with problems involving standardized situations – Continuous
• Reading, writing and comprehending instructions – Continuous
• Adding, subtracting, multiplying and dividing – Continuous

The above statements are intended to describe the general nature and level of work being performed by people assigned to this job. They are not intended to be an exhaustive list of all responsibilities, duties and skills required. The listed or specified responsibilities & duties are considered essential functions for ADA purposes.

Who We Are:

TD is one of the world's leading global financial institutions and is the fifth largest bank in North America by branches/stores. Every day, we strive to make every interaction, product, and experience remarkably human and refreshingly simple for over 27 million households and businesses in Canada, the United States and around the world. More than 95,000 TD colleagues bring their skills, talent, and creativity to foster deeper relationships, ensure disciplined execution, and build a simpler, faster banking experience. TD is deeply committed to being a leader in client experience, that is why we believe that all colleagues, no matter where they work, are client facing. Together, we are reimagining what banking can be for our clients, colleagues and communities.

Our Total Rewards Package

Our Total Rewards package reflects the investments we make in our colleagues to help them and their families achieve their financial, physical and mental well-being goals. 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. Learn more

Additional Information:
We're delighted that you're considering building a career with TD. Through regular development conversations, training programs, and a competitive benefits plan, we're committed to providing the support our colleagues need to thrive both at work and at home.

Colleague Development

If you're interested in a specific career path or are looking to build certain skills, we want to help you succeed. You'll have regular career, development, and performance conversations with your manager, as well as access to an online learning platform and a variety of mentoring programs to help you unlock future opportunities.

If you're passionate about helping clients and building deep, lasting relationships, TD offers diverse career paths where you can grow your expertise and make a meaningful impact.  

We're committed to your success and foster a respectful workplace where diverse perspectives are valued, everyone has fair opportunities to grow, and you can unlock your full potential to achieve your career goals. Here at TD, we hire and develop the best.

Training & Onboarding
We will provide training and onboarding sessions to ensure that you've got everything you need to succeed in your new role.

Interview Process
We'll reach out to candidates of interest to schedule an interview. We do our best to communicate outcomes to all applicants by email or phone call.

Accommodation

TD Bank is an equal opportunity employer.  All qualified applicants will receive consideration for employment without regard to race, color, religion, sex, sexual orientation, gender identity, national origin, age, disability, status as a protected veteran or any other characteristic protected under applicable federal, state, or local law.

If you are an applicant with a disability and need accommodations to complete the application process, please email TD Bank US Workplace Accommodations Program at  Include your full name, best way to reach you and the accommodation needed to assist you with the applicant process.