M&T Bank

Foreclosure Specialist II

United States

Not SpecifiedCompensation
Junior (1 to 2 years)Experience Level
Full TimeJob Type
UnknownVisa
Banking, Mortgage Services, Financial ServicesIndustries

Job Description

Position Overview

This position is responsible for managing the foreclosure process for an assigned portfolio of mortgage loans, contested foreclosures, or loans in other litigation. The goal is to ensure foreclosures are completed timely in accordance with investor guidelines and to provide administrative support related to the foreclosure process.

Primary Responsibilities

  • Monitor the progress of foreclosure actions from referral to post-foreclosure, including managing issues, holds, and necessary reviews.
  • Communicate with foreclosure attorneys to understand, minimize, and avoid delays.
  • Work with foreclosure attorneys to resolve simple contested/litigation actions and title issues.
  • Provide status updates to investors during the foreclosure process.
  • Assemble and provide documentation for investor or regulatory audit requests.
  • Generate scheduled and ad hoc reports for Foreclosure, including scorecard, exception, and workflow tracking reports.
  • Ensure investor deadlines within the foreclosure process are met, including FHA 1st legal and eviction deadlines.
  • Prepare bidding instructions according to investor guidelines and ensure proper bidding for sales where M&T’s lien is not in first position.
  • Review VA appraiser invoices for payment, set up payees, and submit invoices for payment.
  • Perform initial review of foreclosure or simple contested litigation documents, gather backup, and submit for further review.
  • Review equity position and prepare necessary equity analysis for potential charge-offs.
  • Provide sale results to investors, MI companies, and other parties, updating systems as required.
  • Work with attorneys to ensure proper reporting of foreclosure status to investors.
  • Manage assigned tasks to hold, close, or proceed with foreclosure within required service level agreements.
  • Complete daily Sale Result QC for the Foreclosure team.
  • Monitor, distribute, and respond to emails sent to team email boxes.
  • Receive, review, and distribute legal mail pertaining to residential properties in which the bank has an interest, to avoid risk of loss.
  • Work with in-house counsel and management to determine if external counsel engagement is necessary.
  • Request checks for disbursement of bid deposits, senior lien payoffs, and settlements.
  • Adhere to applicable compliance and operational risk controls.
  • Maintain M&T internal control standards, including timely implementation of audit points and addressing issues raised by regulators.
  • Promote an environment that supports belonging and reflects the M&T Bank brand.
  • Complete other related duties as assigned.

Scope of Responsibilities

This position interacts with external third-party foreclosure attorneys to ensure successful and timely completion of foreclosure consistent with investor guidelines. It also interacts with CAM Management and internal & external counsel.

Requirements

  • A combined 3 years of higher education and/or work experience.
  • Minimum of 1 year of Default Servicing related field experience (e.g., Collections, REO, Loss Mitigation).
  • Working knowledge of word processing and spreadsheet software.
  • Strong written and verbal communication skills.
  • Detail-oriented.
  • Strong analytical and problem-solving skills.
  • Motivated, team player with a positive and friendly attitude.

Preferred Qualifications

  • 3 years’ Default Servicing experience.

Employment Type

Full time

Location Type

  • [Information not provided]

Salary

  • [Information not provided]

Skills

Foreclosure process management
Legal documentation review
Communication with attorneys
Report generation
Investor deadline management
Title and litigation resolution
Invoice review and payment processing
Equity analysis
Regulatory compliance

M&T Bank

Full-service banking for individuals and businesses

About M&T Bank

M&T Bank provides a variety of banking services to individuals, small businesses, and larger companies. Their offerings include mortgage assistance, personal and business checking accounts, and mobile banking options. The bank primarily operates in the Northeastern and Mid-Atlantic regions of the United States, emphasizing community engagement and a focus on customer service. M&T Bank's business model is based on traditional banking practices, such as loans, deposits, and investment products, and it generates revenue through interest income and service fees. A key aspect that sets M&T Bank apart from its competitors is its commitment to community involvement, which includes allowing employees to volunteer and supporting local organizations. The recent merger with United Bank, N.A. has further expanded their services and market presence.

Buffalo, New YorkHeadquarters
1993Year Founded
IPOCompany Stage
Financial ServicesIndustries
10,001+Employees

Risks

Competition from fintechs could erode M&T Bank's market share among tech-savvy customers.
Integration challenges from the United Bank merger may disrupt operations.
Decreased prime rate could reduce interest income, impacting profitability.

Differentiation

M&T Bank emphasizes community engagement through its charitable foundation and volunteer programs.
The bank offers a wide range of traditional and digital banking services.
Recent merger with United Bank, N.A. expands M&T's market reach and service offerings.

Upsides

M&T Bank's $1.5 billion senior notes offering strengthens its financial position.
Decreased prime rate may attract more borrowers, increasing loan volume.
Shannon Lazare's appointment as New Jersey Regional President enhances local community engagement.

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