Default Specialist

The Core Responsibilities!

50% Arrears/ Legal Action Process:

• Proactively managing portfolio of residential and commercial delinquent loans in default for breach of mortgage or loan conditions which may include non-payment, tax arrears, past matured loans, property standards, insurance cancellations and any other breach of mortgage that may be identified.; Send appropriate notification regarding returned payments and/or arrears to borrowers; Closely monitor entire portfolio, obtain information as required from third parties to determine appropriate arrangements (i.e. Condo Corps, Insurance adjusters etc.) while ensuring Equitable 1st Priority is maintained and risks are mitigated. Identify loans requiring further financial assistance.
• Obtain and conduct full review of financial documents and make recommendations for workout while ensuring Bank interest and priority is secured; Closely monitor accounts with active workouts to mitigat...