Senior Counsel, Residential Mortgage Servicing

Mmbba; Plano (TX); On-site; USD 180,000 - 230,000; Full time

Job summary

Bank of America in Plano is seeking a senior in-house attorney to provide legal counsel to Front Line Units for residential mortgage servicing, including loss mitigation, workouts and loan modifications.

You will review contracts, draft opinions, and respond to regulatory examinations, while guiding business teams on compliance and risk.

Must hold bar admission and bring at least seven years in mortgage law; experience with high net worth mortgage servicing is a plus.

Qualifications

• Bar Admission in at least one state (active/good standing).
• Minimum 7 years legal/compliance experience in mortgage industry.
• Experience with custom residential mortgage loan documentation.

Responsibilities

• Analyzes legal issues and implications on consumer banking and wealth management products, services and regulatory matters.
• Communicates clear, concise, actionable, and business-informed legal advice, including occasionally to leadership.
• Interprets rulings, laws, and regulations from a compliance and business control standpoint.
• Drafts, reviews, and/or negotiates complex legal documents, such as engagement letters, debt agreements, offering documents, and legal opinions.
• Gathers, assesses, and evaluates information from various sources to make a judgment or inference.
• Supports company responses to government agency examinations and investigations, enforcement actions, private complaints, and litigation.
• Provides legal support for residential mortgage servicing, including the wealth management residential mortgage servicing business GWIM Consumer Special Asset Group (GCSAG) default servicing for Custom mortgage, as well as additional support for Custom mortgage.
• Supports client escalations, daily advice to the wealth management residential mortgage servicing business, Dodd Frank compliance, servicing questions, legal/compliance matters related to default servicing and general legal advice

Skills

Advisory

Influence

Interpret Relevant Laws, Rules, andReg

Policies, Procedures, and Guidelines

Risk Management

Critical Thinking

Decision Making

Issue Management

Legal Drafting and Writing

Regulatory Compliance

Attention to Detail

Collaboration

Executive Presence

Legal Structures and Legal Forms

Problem Solving

Education

Doctorate degree in related field

Job description

Bank of America in Plano is seeking a senior in-house attorney to provide legal counsel to Front Line Units for residential mortgage servicing, including loss mitigation, workouts and loan modifications.

You will review contracts, draft opinions, and respond to regulatory examinations, while guiding business teams on compliance and risk.

Must hold bar admission and bring at least seven years in mortgage law; experience with high net worth mortgage servicing is a plus.