Loss Mitigation Specialist III

Hours

40

Department Overview

• Foreclosure Team specializes on managing Foreclosure processes specific to loans secured by real estate and provides critical support to the Foreclosure Attorneys in 17+ states.

• Foreclosure Specialist's responsibilities include: managing all foreclosure-related processes, coding accounts in the system of record, validating documents prepared by attorneys, reviewing payment histories, and being a liaison between Foreclosure attorneys and other Mortgage Default Management teams (TD Helps, Bankruptcy).

• This is a non-customer facing position.

Job Details

• 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.

• Leadership Capabilities: This job has no direct reports.

Job Requirements

• Knowledge/Skills/Abilities: 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

Qualifications

• Education Associate's degree or work experience equivalent to associate's degree required

• Experience: 3+ years' experience required

• Accountability 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.

• Domestic Travel: Never 0% International Travel: Never 0%

Company Overview

Our Values

At TD, we're guided by our purpose to enrich the lives of our customers, communities and colleagues, and share a set of values that shape our culture and behaviors. In exchange for how our colleagues show up to help TD succeed, we are committed to delivering a colleague experience grounded in Impact, Growth and a Culture of Care. No matter where you work across TD, we empower you to make an impact at work and in your community, explore and grow your career, and be part of our caring and inclusive culture.

Making Your Well-being a Priority

A caring and supportive culture that promotes colleague well-being is core to who we are. At TD, we focus on total well-being with extensive programs to help colleagues assess, manage, and improve their well-being across four core pillars - physical, financial, social and mental/emotional. In addition, we champion a safe and inclusive work environment, so colleagues feel a sense of belonging and feel supported in their personal and professional growth. Through our focus on well-being, we know that we can help our colleagues thrive, contribute to our culture of care, and support better business outcomes, because when colleagues feel their best, they're more likely to do their best.

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.

How We Work

At TD, we believe in-person connections fuel collaboration and collective creativity. Our workplace experience empowers colleagues to do great work side-by-side at TD locations, while offering flexibility to work remotely where it makes sense for the work and team. Our teams work in one of three workplace models: hybrid, onsite and primarily remote. Wherever our colleagues are working, they'll always have access to the TD community to experience our culture of care.

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 deliver legendary customer experiences to 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 the Bank, those we serve, and the economies we support. We are guided by our vision to Be the Better Bank and our purpose to enrich the lives of our customers, communities and colleagues. TD is deeply committed to being a leader in customer experience, that is why we believe that all colleagues, no matter where they work, are customer facing. As we build our business and deliver on our strategy, we are innovating to enhance the customer experience and build capabilities to shape the future of banking. Whether you've got years of banking experience or are just starting your career in financial services, we can help you realize your potential. Through regular leadership and development conversations to mentorship and training programs, we're here to support you towards your goals. As an organization, we keep growing - and so will you.

Inclusiveness

Our Commitment to Diversity, Equity, and Inclusion

At TD, we're committed to fostering an environment where all colleagues are encouraged to bring their authentic selves to work, experience equitable opportunities, and feel respected and supported. We're dedicated to building an inclusive workforce that reflects the diversity of the customers and the communities in which we live and serve.

EOE/Minorities/Females/Veterans/Individuals with Disabilities/Sexual Orientation/Gender Identity.

Accommodation

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

How We're Helping Make an Impact in Communities

TD has a long-standing commitment to help drive progress towards a more inclusive and sustainable future. That's why we launched the TD Ready Commitment in 2018, now a multi-year North American initiative. Under the TD Ready Commitment, we are targeting a total of $1 billion by 2030 in community giving across four key, interconnected drivers of change: Financial Security, Vibrant Planet, Connected Communities, and Better Health. It's our goal to help support change, nurture progress, and contribute to making the world a better, more inclusive place for our customers, colleagues, and communities.

We look forward to hearing from you!