Mortgage Legacy Asset Servicing

Bank of America Legacy Asset Servicing is dedicated to addressing the special needs of distressed mortgage customers, and is committed to delivering fair, fast and final resolution to their situation. We provide solutions that range from loan modifications to foreclosure alternatives such as short sales and deeds in lieu; and in cases where foreclosure is unavoidable, we offer specialized support services to borrowers who must transition out of their home. We are committed to hiring top talent to join our team and help provide the best possible customer experience.

Individuals who choose to build a career with Bank of America Legacy Asset Servicing typically join one of the following teams:

Home Retention
Credit Loss Mitigation
Quality Control
Customer Outreach and Advocacy
Servicing Initiatives

We encourage you to explore each of these areas and learn more about how our organization can help you achieve your own personal and professional goals.

Home Retention

Our Home Retention team works with customers whose mortgage accounts have become past due, gathering information to understand their financial situation and working with them to review their available options. The team's goal is to help borrowers remain in their homes, while mitigating losses to the bank and investor. When that is not possible, teammates ensure customers receive a dignified transition to alternative housing.

Credit Loss Mitigation

The Credit Loss Mitigation team is responsible for developing home retention strategies; managing loss mitigation programs; managing the delinquent mortgage portfolio; and loss forecasting. The team also provides investor services and develops secondary markets for the bank's loan products.

Quality Control

The Quality Control team leads the validation, monitoring and testing of key programs and processes in support of Bank of America's overall risk framework. The team delivers a high level of transparency to ensure senior management has an accurate view of process performance; provides timely notice of any compliance issues; and reports on remediation efforts.

Customer Outreach and Advocacy

The Customer Outreach and Advocacy team leads the bank's efforts to provide assistance and solutions to customers experiencing financial difficulty. The team has evaluated some of the hardest-hit areas in the country and established a local presence in the community using face-to-face interactions between homeowners and bank representatives. These efforts include participating in mortgage outreach events, opening Customer Assistance Centers, and conducting mobile tours. The team also maintains relationships with non-profit housing groups to provide financial budget counseling resources.

Servicing Initiatives

The Servicing Initiatives team leads change and process improvements across the Legacy Asset Servicing organization. The team prioritizes and manages change initiatives, and ensures their effective design, implementation and improvement is effectively managed across people, process and technology.

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