[Remote] Legal Mortgage Collections Specialist (Foreclosure)

Note: The job is a remote job and is open to candidates in USA. BMO, the Bank of Montreal, is seeking a Legal Mortgage Collections Specialist to manage delinquent mortgage and loan accounts. This role involves coordinating with legal teams and internal departments to ensure timely and compliant foreclosure proceedings while maintaining accurate records and providing updates to management.ResponsibilitiesMonitors and manages overdue mortgage or loan accounts to minimize risk and lossEnsures timely and accurate processing of foreclosure actions in accordance with investor, insurer, and regulatory requirementsPrepares, reviews, and maintains foreclosure documentation with accuracy and attention to detailCoordinates with legal teams, real estate agents, and internal departments to facilitate the foreclosure processProficient in Excel, and prepares reports, ensuring data accuracy and clarityDevelops credibility and earns their trust as relationship managerAddresses the more complex escalated customer requests and transactionsExecutes established loss mitigation processes/procedures for the resolution of non-performing and high-risk accountsHandles calls with law firms in an informed, professional, and efficient mannerProbes to understand customer needs and provides advice related to payments and overall collections strategies in the best interests of the customerProvides advice and guidance to assigned business/group on implementation of solutionsSupports the execution of strategic initiatives in collaboration with internal and external stakeholdersDevelops action plans and solutions to maximize recovery and safeguard the Bank’s interestsEstablishes expertise with Consumer Collections personnel as a key support contact/resource/coach with proficiency and tools to assist departments in achieving goalsUtilizes strong negotiation skills and interpersonal skills, while adhering to all applicable guidelines, requirements and regulationsReviews accounts and analyzes data and information to determine the probability of collection; provides insights and recommendationsGathers and formats data into regular and ad-hoc reports, and dashboardsDevelops and executes short term tactics/plans to drive specific behaviours, activities, and resultsManages all transactions related to customer calls or refers to appropriate internal business groupsEscalates complex or unresolved customer situations to managers as requiredIntegrates information from multiple sources to enable more efficient processes, enhanced analysis and/or streamlined reportingLeads/participates in the design, implementation and management of core business/group processesSupports the development and promotion of a business/group programIdentifies business needs, designs/develops tools and training programs; may include delivery of training to audiencesCollaborates in efficient functioning of collections life cycle. Includes participating in the execution of established loss mitigation solutions for the successful resolution of non-performing and high-risk accounts. Solutions range from various loan modification options to liquidation for borrowers with delinquent and high risk loans in order to offer default / foreclosure alternatives and minimize lossesFollows documented policies and procedures to execute transactions, activities and processesKeeps abreast of needs of the Collections departments. Identifies and makes referrals to other business groups as neededMaintains current knowledge of collections strategies, practices, and trends and integrates into customer conversations in a professional mannerMaintains the confidentiality of customer and Bank informationSupports continuous improvement initiatives by identifying and implementing changes to make processes more effective and efficientDevelops and maintains awareness of industry trends and best practices and the regulatory environment as it relates to collections products and servicesFocus may be on a business/groupThinks creatively and proposes new solutionsExercises judgment to identify, diagnose, and solve problems within given rulesWorks mostly independentlyBroader work or accountabilities may be assigned as neededSkillsTypically between 3 - 5 years of relevant experience and post-secondary degree in related field of study or an equivalent combination of education and experienceKnowledge of Credit Qualifications and associated credit knowledge and skills according to the established qualification standardsKnowledge of federal, state/provincial and local laws pertaining to Consumer Collections and functional area - GoodKnowledge of BMO products and services - GoodKnowledge of competitive marketplace and trends in product offeringsSpecialized knowledge from education and/or business experienceVerbal & written communication skills - In-depthCollaboration & team skills - In-depthAnalytical and problem solving skills - In-depthInfluence skills - In-depthMicrosoft Excel - In depthBenefitsPerformance-based incentivesDiscretionary bonusesHealth insuranceTuition reimbursementAccident and life insuranceRetirement savings plansIn-depth training and coachingManager supportNetwork-building opportunitiesCompany OverviewWe’re a bank, but there’s more to it than that. ​ When you join BMO, it opens a world of opportunities. It was founded in 1817, and is headquartered in Toronto, Ontario, CAN, with a workforce of 10001+ employees. Its website is http://www.bmo.com.Company H1B SponsorshipBMO has a track record of offering H1B sponsorships, with 3 in 2026, 7 in 2025, 2 in 2024, 6 in 2023, 4 in 2022, 2 in 2021, 2 in 2020. Please note that this does not guarantee sponsorship for this specific role.