Loss Mitigation Specialist
Loss Mitigation Specialist
Posted on :
27-04-2025
Employer Active
1 Vacancy
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Job Description
Loss Mitigation Specialist
Calgary AB or Toronto ON
Salary Range: $50000 $60000 /yr.
The Loss Mitigation Specialist is responsible for enforcement proceedings on loans in default and oversight of the foreclosure or power of sale process should no other solution become evident. The position requires that you work directly with the borrowers management team default team and business partners such as lender clients default lawyers insurers property managers and realtors to minimize risk and losses on defaulted mortgages. The position will also work closely with the retention team when calling loans at maturity due to the inability to renew the mortgage.
Responsibilities:
Daily review of arrears and identifying of any trending activities
Review all new information received from borrower/and or business partners and update internal systems as required
Work towards solutions which best reduce overall loss or potential losses
Prepare and initiate loans for legal action that are in default for such reasons as nonpayment tax arrears matured loans etc.
Prepare various statements such as arrears demand & payout statements
Prepare and submit proof of claims for bankruptcy work with trustees where applicable
Set listing prices and shortfall sale exceptions within internal and insurer guidelines
Negotiate offers and counter offers within internal & insurer guidelines
Liaise with lender clients solicitors insurers and property managers during the legal process to ensure proper management of files
Prepare and submit claims to mortgage insurers in a timely and accurate manner
Inbound and Outbound calls to borrowers and Business partners
Ensuring responses to emails faxes and voice messages are completed within SLA
Weekly monthly and quarterly arrears reporting for Management
Monthly provision reports for loans in legal action
Monthly reporting to mortgage insurer regarding delinquencies
Document calls through an IVR system as well as detailed notes in customer file
Additional duties as assigned
This role is for you if you have:
A postsecondary degree or diploma in business (an asset)
2 years experience in residential mortgage default or mortgage administration
Indepth knowledge of mortgage enforcement procedures and insurer default policies
Strong proficiency with Excel SharePoint and other Microsoft Office applications
Bilingualism in English and French (both verbal and written) considered an asset
Proven ability to deliver excellent customer service and handle sensitive situations with professionalism
Exceptional problemsolving organizational and time management skills
Excellent oral and written communication skills
Strong relationshipbuilding and active listening abilities
High attention to detail and accuracy in all aspects of work
A proactive selfmotivated approach with the ability to work independently
Experience navigating and working across multiple systems simultaneously
Demonstrated ability to work effectively both independently and as part of a team
Skills in conflict resolution and sound judgment in daily operations
Who are we
Established in 1974 CMLS Financial is the leading provider of capital solutions for commercial property owners developers and real estate investors. We have over 50 years of experience 35000 clients $45 billion in assets under administration and offices coast to coast. Some of Canadas most prominent banks investment managers insurance companies and pension funds rely on CMLS Financial for a variety of critically important services. Building on our solid foundation of financial strength and experience we continue to deliver unparalleled capital solutions for all our clients needs.
You will love working here
Employees tell us that they love that we strike the balance in creating an incredibly professional yet dynamic and enjoyable corporate culture. We work in a fluid and fastpaced environment that is supportive of energetic and motivated individuals who pride themselves on being flexible and resultsdriven. Business is booming and that means that our employees are able to gain valuable exposure have lots of learning opportunities and truly impact the business. We are committed to providing our people with a challenging and rewarding career because our employees are what set us apart and we know it.
Equal Opportunity Employer
CMLS Financial is an equal opportunity employer committed to diversity and inclusion. We are pleased to consider all qualified applicants for employment without regard to race color religion sex sexual orientation gender identity national origin age disability protected veterans status Aboriginal/Native American status or any other legallyprotected factors. Disabilityrelated accommodations are available on request for candidates taking part in all aspects of the selection process.
We want to hear from you!
If you are confident that you would be a strong asset to our team submit both a cover letter and resume today. Be sure to tell us why you believe yourself to be a perfect fit! We thank all applicants for their time in applying however we will only contact those selected for an interview.
Required Experience:
Unclear Seniority
Employment Type
Full-Time
Key Skills
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