Senior Default Recovery Specialist - Legal & Real Estate

Who we are:

Fairstone Bank and its family of brands are united in delivering innovative, accessible and reliable financial solutions that enable Canadians to reach their goals. Over the years, our brand family has grown. In 2024, Home Trust Company, Home Bank and Oaken Financial became part of the Fairstone Bank family of brands, alongside Fairstone, EdenPark and Fig.

Together, we are the leading alternative lending bank in Canada. We have the collective experience and expertise to better serve our customers and foster our partners’ growth. With a diverse suite of products—residential and commercial mortgages, consumer deposits and GICs, credit cards, retail and automobile financing, personal loans and digital lending—we offer financial solutions tailored to all Canadians, including newcomers, small-business owners, smart investors and savvy consumers.

Backed by nearly a century of lending experience through its legacy companies, Fairstone Bank and its brand family are proud to be Canada’s leading alternative lending bank. ​

Home Trust Company has developed a track record of success as Canada’s leading alternative lender, employing nearly 800 people in our Toronto headquarters and branches across the country. Building on the demonstrated strength of its core residential mortgage lending business, the Company also offers complementary lending services, as well as highly competitive deposit investment products, through Oaken Financial. Our culture has been shaped by the passion and integrity of our people. 

Please join Home Trust as a Senior Default Recovery Specialist – Legal action and real estate, and be part of our talented and growing team! 

About the role:

The mandate of the Senior Default Recovery Specialist role is to mitigate and or eliminate financial losses due to delinquent or unpaid balances of all mortgage products offered by Home Trust. They perform independently, setting priorities and scheduling own work in accordance with established and general policies and procedures, requiring little interpretation from Management. They are responsible for the management of a portfolio of impaired accounts located Nationwide. Continual follow up, instructing solicitors, property managers and real estate agents. Educating mortgagors on both financial and legal repercussions resulting from delinquent accounts. They are responsible for achieving targets as set by Management, both individually and as a team.

Responsibilities:

• In-depth assessment of customer(s), security, title, and activities in order to mitigate loss and safeguard against any unnecessary out of pocket expense.
• Stewardship of all legal enforcement activities ensuring it proceeds as directed based on adherence to payment arrangement(s) and/or outcome of financial assessment.
• Execute successful strategies for marketing security, and recovery against personal covenant for debt while adhering to internal controls and guidelines for both HTC and if applicable, our Insurer(s) involved
• Direct Solicitors, property managers real estate agents and all associated agents and all associated Agents to assist with the legal remedies and disposal of real estate within a structured time frame and according to the relevant Provincial Law
• Practice continual use of the follow up system to ensure adequate turn-around time to clients, solicitors & authorized 3rd parties.
• Incorporate regulatory and compliance requirements into existing business processes and activities to ensure guidelines are met within all aspects of the position.
• Provide clear, concise and accurate information, through written or verbal communication, to clients and third parties to ensure there is no jeopardy to Home Trust Company’s legal action.
• Ensure the customer is at all times treated with respect and are provided a clear understanding of the enforcement process
• Direct and oversee at the loan level all requirements, direction and accountability required by the business partner such as real estate agents, property managers, appraisers, solicitors etc
• Develop detailed and concise recommendations for Management, as it relates to workout solutions, legal action or marketing proposals, through a thorough assessment of the client, property and account history.
• Through consistent review, follow up and action, meet a target of percentage of files cured on a monthly, quarterly and yearly basis, as an average, in order to achieve expectations on an individual, team and company wide basis, as set out by Management
• Allow for minimal escalations due to errors and/or non-compliance with department/company processes.
• Ensure documentation, account information and statements are produced accurately, and in a timely manner.
• Complete exhaustive reviews of account histories and activities to safeguard against errors resulting in out-of-pocket expenses
• Review and approve Default Recovery Specialist discharge statements and complete system postings.
• Provide portfolio coverage and support as needed, adapting to fluctuating workload volumes.
• Provide reporting backup and conduct reviews to ensure management receives accurate and timely information.
• Serve as a subject matter expert, developing and facilitating training initiatives that cultivate talent and enhance workforce capabilities.
• Draft and submit approval documents for senior leadership, adhering to established guidelines and regulatory requirements.
• Proactive management of a portfolio, resulting in a percentage of accounts under 90+ days in arrears, disposed loans sold with minimal loss exposure , measured monthly, quarterly and yearly, as an average, in order to achieve expectations, as measured through regular portfolio audits and account discussions with Management.
• Champion HTC’s core values, Code of Conduct, and all internal policies and standards, setting a benchmark for ethical leadership and integrity across the team.
• Model and enforce the highest standards of business conduct and ethics, fostering a culture of trust and accountability.
• Maintain expert knowledge of regulatory and compliance requirements relevant to portfolio management, proactively adapting to evolving industry standards.
• Incorporates regulatory & compliance requirements into existing business processes & activities
• Identifies opportunities to mitigate potential risk and to strengthen compliance activities, for HTC & its stakeholders, in daily operational activities

What we’re looking for:

• University preferred but not required.

• Minimum 4 years senior mortgage collection or related legal administrative or paralegal experience

• Working knowledge of real estate handling and disposal of asset for lender

• Minimum 2 year working knowledge of Mortgage Remedy Law within Ontario and preferably across Canada

What you’ll love about working here:

• Award-Winning Culture: We’re proud to be recognized as a Great Place to Work Canada 2025 and one of Montreal’s Top Employers 2025 by Canada’s Top 100 Employers.

• Work-Life Balance: Enjoy flexibility with our hybrid work model designed to support your lifestyle.

• Time to Recharge: Generous vacation based on your role, statutory holidays, plus 6 wellness days to prioritize your well-being.

• Compensation Package: Competitive base salary plus an annual incentive bonus tied to performance.

• Comprehensive Benefits: Robust health and dental coverage through Manulife, as well as virtual healthcare through Dialogue.

• Future-Ready Savings: Group Retirement Savings Plan with up to 7% employer match.

• Exclusive Perks: Discounts from top retailers via WorkPerks, plus location-based perks like gym memberships and Toronto Bike Share.

• On-Site Fitness: Gym access at our London and Montreal offices.

• Continuous Growth: Education Assistance Program and Fairstone Academy for training and skill development.

• Community Impact: One paid volunteer day to give back to causes that matter to you.

• For more information on who we are as an employer click here.

What you can expect - pay & process:

• Expected base salary range is $60,000 - $75,000 per year, plus the opportunity to earn an annual incentive bonus tied to performance.  

• This posting is for an existing vacancy within our organization.

• Artificial intelligence may be used in parts of the recruitment process.

• All candidates considered for hire must successfully pass a criminal background check, credit check, and validation of their work experience to qualify for hire. 

If what you read excites you, we’d like to hear from you! Please submit your application and we’ll contact you if you become selected for first stages of the interview process.

Learn more: https://www.fairstone.ca/en/about/canadian-lender

Follow us on LinkedIn: https://www.linkedin.com/company/fairstone/mycompany/

If you have a preferred language for communication, please kindly inform us whether you prefer French or English on your application.

Fairstone is an equal opportunity employer. Accordingly, we will make reasonable accommodations to respond to the needs of people with disabilities. Individuals who view themselves as Aboriginals, members of visible minorities, and disabled are encouraged to apply in confidence.

Time Type:

Full time

Job Type:

Permanent