Senior Mortgage Compliance Counsel

Bank of America; Plano (TX); On-site; USD 140,000 - 210,000; Full time

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Job summary

Bank of America is seeking an experienced legal counsel to provide guidance on residential mortgage servicing and related wealth management products. The role covers advising front-line units on product and regulatory matters, including loss mitigation and loan modifications.

The ideal candidate will have 7+ years in mortgage law, bar admission, and expertise in custom mortgage documentation, with strong drafting and negotiation skills for complex agreements.

Qualifications

• Bar admission in at least one state.
• Minimum 7 years legal/compliance experience in mortgage industry.
• Experience with custom residential mortgage loan documentation.
• Familiarity with estate planning trust types, LLCs, LPs and related issues.

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 to leadership.
• Interprets rulings, laws, and regulations from a compliance and business control standpoint.
• Drafts, reviews, and negotiates complex legal documents such as engagement letters, debt agreements, offering documents, and legal opinions.
• Gathers, assesses, and evaluates information to make a judgment or inference.
• Supports responses to government agency examinations and investigations, enforcement actions, private complaints, and litigation.
• Provides legal support for residential mortgage servicing for GWIM Consumer Special Asset Group and Custom mortgage.
• Supports client escalations, daily advice to wealth management residential mortgage servicing, Dodd-Frank compliance, servicing questions, and general legal advice.

Skills

Advisory Influence

Legal Drafting

Regulatory Compliance

Critical Thinking

Risk Management

Collaboration

Executive Presence

Legal Structures

Education

Doctorate degree

Job description

Bank of America is seeking an experienced legal counsel to provide guidance on residential mortgage servicing and related wealth management products. The role covers advising front-line units on product and regulatory matters, including loss mitigation and loan modifications.

The ideal candidate will have 7+ years in mortgage law, bar admission, and expertise in custom mortgage documentation, with strong drafting and negotiation skills for complex agreements.