Mortgage Loan Default Operations Asst Mgr

This position will report to the Head of Servicing. The person in this role will shadow the Vice President Mortgage Loan Default Operations; train on all their functions and act on their behalf when out of the office.

The Mortgage Loan Default will be a partner for strategic leadership, oversight, and reduction of risks for default servicing activities, including delinquency management, collections, loss mitigation, foreclosure, bankruptcy, claims administration, and liquidation strategies. This includes strengthening internal controls, and ensuring compliance with investor, agency, and regulatory requirements.
They develop and implement proactive delinquency management controls and default resolution strategies designed to minimize losses, improve portfolio performance, maximize home retention opportunities, and mitigate operational risk.

Responsibilities and Duties:
Strategic Default and Delinquency Management
• Develop and execute comprehensive default servicing strategies that effectively manage delinquency, reduce portfolio losses, improve cure rates, and enhance borrower outcomes.
• Monitor portfolio performance, delinquency trends, roll rates, cure rates, loss severity, foreclosure timelines, and servicing costs to identify areas of risk and opportunity.
• Establish performance objectives and action plans to improve delinquency management effectiveness and mitigate loss exposure.
• Drive strategy for early intervention and borrower engagement strategies that support home retention while protecting investor interests and reducing portfolio risk.
• Analyze portfolio data and market trends to proactively identify emerging risks and recommend strategic actions.
Risk Management, Compliance, and Controls
• Deep understanding of FHA, VA, USDA, Fannie Mae, Freddie Mac, Ginnie Mae, and state regulatory requirements.
• Knowledge of mortgage debt collection practices, Chapter 7 and 13 Bankruptcy Laws, Fair Credit Collection Practices, and applicable laws, regulations, procedures and policies of Fannie Mae, Freddie Mac, FHA, USDA, VA and MI companies.
• Knowledge of PMI claims procedures.

• Ensure appropriate controls and documentation are maintained to support servicing operations and minimize risk exposure.
• Monitor compliance performance to drive timely identification and resolution of servicing deficiencies.
Operational Leadership
• Direct oversight and management of all default servicing operations, including loss mitigation, collections, foreclosure, bankruptcy, claims, and property preservation.
• Develop and implement process improvements designed to enhance operational efficiency, strengthen controls, and reduce losses.
Reporting and Performance Management
• Develop and maintain executive reporting and dashboard metrics that provide transparency into portfolio performance, delinquency trends, compliance results, and loss exposure.
• Provide regular reporting and strategic recommendations to management regarding portfolio risks, mitigation strategies, and performance improvement opportunities.
• Utilize data analytics to support decision making, resource planning, and strategy development.
Team Leadership and Development
• Recruit, develop, coach, and retain high-performing default servicing professionals.
• Foster a culture of accountability, compliance, risk awareness, operational excellence, and continuous improvement.
• Ensure staffing and organizational structure effectively support business objectives and departmental needs.
Contribute to the effort of the Bank by performing other duties as assigned.