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Loss Mitigation Specialist II

Company Name:
TD Bank
Job Description
Area (s) assigned are more
complex in size.
May meet with Customers in
person to discuss workout
possibilities.
Works with Customers or agents
f Customers to resolve
delinquency and avoid default or
adverse action
Assists Customers in processing
insurance claims and requests for
contractual rebates
May initiate 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.
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
wned property.
Reviews accounts for adherence
to department policies as well as
state and federal laws and
regulations. Corrects any
deficiencies with appropriate
personnel prior to moving forward
in process
Completes necessary account
documentation, involving inside
and outside personnel as needed,
and recommends accounts to be
reviewed for foreclosure,
repossession, charge off, and or
litigation.
May initiate loss mitigation activities after approval of
foreclosure. May coordinate
auctions and other collection and recovery activities to secure
maximum payback for Company
wned property.
Recommends negotiated
settlements to maximize recovery
and minimize losses. Attends
property sales and assists in
developing and executing bidding
strategies
Reviews loan files on bankrupt
accounts to determine if fraud is
involved. Takes appropriate
action dealing with attorneys and
trustees to challenge bankruptcy if
appropriate.
Processes and collects insurance
claims and refundable contract
premiums including primary
insurance, Gap insurance, service
contracts, and other source of
revenue available on assigned
accounts.
Analyzes Customers' financial
situation and recommends
appropriate forbearance action.
Represents Company at
bankruptcy, probate and workout
hearings.
Job Requirements
Respond to credit disputes
File proof of claims
Field bankruptcy related calls from customers and attorneys
Qualifications
2 year degree or equivalent
experience
5+ years related experience
required
Proven knowledge and experience
in effective collection regulations,
techniques and practices.
Detailed knowledge of loan
agreements and security
agreements.
Proven ability to understand and
apply bankruptcy law, principles
and practice related to real estate
transactions
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
Good communication skills, both
verbal and written
PC skills
Bankruptcy, Probate and Workout
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 techniques,
including short selling and
voluntary surrender
Knowledge of specific regulations
in various states in which
Company does business
Inclusiveness
At TD, we are committed to fostering an inclusive, accessible environment, where all employees and customers feel valued, respected and supported. We are dedicated to building a workforce that reflects the diversity of our customers and communities in which we live in and serve, and creating an environment where every employee has the opportunity to reach her/his potential.
If you have a disability that requires an accommodation to complete the application process, please e-mail TD Bank''s HR Compliance Department at . Please include your full name, contact information and details about your request within the e-mail.
EOE/Minorities/Females/Veterans/Individuals with Disabilities
Department Overview
The Loss Mitigation Specialist 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.
TD Description
TD is a great organization powered by great people who want to make a difference every day. Our over 85,000 employees world-wide are a big part of what makes TD stand out from any other organization. Every day, we deliver legendary customer and client experiences to our approximately 19 million customers. We're an award-winning organization that reinvests constantly to ensure future growth.
We're recognized as an extraordinary place to work that embraces diversity, where everyone is respected and valued. TD is the sixth largest bank in North America by branches, with many exciting and challenging career opportunities in our four key businesses:
Canadian Personal and Commercial Banking - including TD Canada Trust and TD Insurance
Wealth Management - including TD Waterhouse and an investment in TD Ameritrade
U.S. Personal and Commercial Banking - including TD Bank, America's Most Convenient Bank
Wholesale Banking - including TD Securities
Job Status: Full Time
Date Updated: 20-Apr-2014
Job Category: Operations
Auto req ID: 52924BR
Job Title: Loss Mitigation Specialist II
Location: Falmouth - Gray Rd

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