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Recovery Loss Mitigation Spec II

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Job Details
Job Order Number
Company Name
TD Bank
Physical Address

Falmouth, ME 04105
Job Description


Job Title:

Recovery Loss Mitigation Spec II

TD Description:

About TD Bank, America’s Most Convenient Bank®

TD Bank, America’s Most Convenient Bank, is one of the 10 largest banks in the U.S., providing more than 8 million customers with a full range of retail, small business and commercial banking products and services at approximately 1,300 convenient locations throughout the Northeast, Mid-Atlantic, Metro D.C., the Carolinas and Florida. In addition, TD Bank and its subsidiaries offer customized private banking and wealth management services through TD Wealth®, and vehicle financing and dealer commercial services through TD Auto Finance. TD Bank is headquartered in Cherry Hill, N.J. To learn more, visit at Find TD Bank on Facebook at and on Twitter at .

TD Bank, America’s Most Convenient Bank, is a member of TD Bank Group and a subsidiary of The Toronto-Dominion Bank of Toronto, Canada, a top 10 financial services company in North America. The Toronto-Dominion Bank trades on the New York and Toronto stock exchanges under the ticker symbol “TD”. To learn more, visit at .

Auto req ID:



United States

Job Requirements:

Area (s) assigned are more complex in size.

May meet with Customers in person to discuss workout possibilities.

Works with Customers or agents of 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 owned 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 owned 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.

+ Must be eligible for employment under regulatory standards applicable to the position.



Job Description:

The Loss Mitigation Specialist II 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.


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 their potential.

If you are a candidate with a disability and need an accommodation to complete the application process, email the 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 application process.

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






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

Work Location:

70 Gray RoadWest Falmouth Crossing

Business Line:


Job Category – Primary:

Operations & Underwriting

Job Category(s):

Operations & Underwriting

Province/State (Primary):**


City (Primary):


Job Family:

Retail / Commercial Operations

Time Type:

Full Time

Employment Type:


Federal law prohibits job discrimination based on race, color, sex, sexual orientation, gender identity, national origin, religion, age, equal pay, disability and genetic information.

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