Mortgage Default Servicing Manager

The Mortgage Default Servicing Manager oversees default risk management and loss mitigation functions within the mortgage servicing operation, ensuring alignment with the credit union’s risk appetite, regulatory requirements, and member-focused resolution strategies. This role is responsible for the oversight of delinquency management, loss mitigation programs, foreclosure and bankruptcy processes, asset recovery activities, vendor performance, and continuous process improvement.

The position ensures adherence to internal policies and procedures, investor and secondary market guidelines, and all applicable Federal and State laws and regulations. The role maintains advanced knowledge of mortgage servicing operations and default resolution practices and provides leadership, training, and guidance to staff to achieve portfolio performance and loss reduction objectives.

Additionally, the Mortgage Default Servicing Manager will serve as a key point of contact for investor agencies, third-party vendors, and indirect mortgage partners.

• Supervise the mortgage lending collections, loss mitigation, and default services team including hiring, training, coaching, and conducting evaluations and recommending terminations.
• Promote a culture of teamwork, enthusiasm, success, and exceptional member service through positive interactions with all team members, leading by example with initiative, flexibility, dedication to the Credit Union mission and core values, and a passion for “people helping people.”
• Monitor and evaluate individual performance, providing monthly feedback and conducting annual performance appraisals.
• Establish and review performance standards, complete evaluations on schedule, and administer disciplinary actions when necessary.
• Conduct regular team meetings to communicate updates, align priorities, and reinforce service standards.
• Establish and maintain a career development plan for each employee by identifying personal career goals, individual strengths, and areas for improvements, supplying training and cross‑training, and coordinating opportunities for learning and participation.
• Create and maintain staff schedules to ensure efficient coverage and high‑quality member service.

• Direct and manage all collections, loss mitigation, and default servicing functions for mortgage, home equity, and mobile home chattel loans, including accounts in delinquency, default, bankruptcy, foreclosure, and post‑repossession status.
• Monitor delinquency, default, cure rates, recovery rates, and loss severity, and implement strategies to reduce credit losses and improve portfolio performance.
• Serve as the primary escalation point for complex default scenarios, legal matters, member complaints, and regulatory or investor inquiries related to loss mitigation and default servicing.
• Ensure timely and compliant evaluation and execution of loss mitigation solutions, including loan modifications, repayment plans, forbearance, short sales, deeds in lieu of foreclosure, and other default resolution options.
• Oversee all default activities in compliance with Fannie Mae, Freddie Mac, Federal Home Loan Bank (FHLB), investor, insurer, and applicable regulatory requirements.
• Manage the bankruptcy servicing lifecycle, including coordination with legal counsel, filing and monitoring proofs of claim, payment application, plan compliance, and adherence to court orders and investor guidelines.
• Oversee the foreclosure process from onset through resolution, ensuring proper escalation, timeline management, vendor oversight, and compliance with federal, state, investor, and secondary market requirements.
• Lead the recovery, repossession, and liquidation of mobile home chattel loans, including repossession strategy, title resolution, collateral condition assessment, and compliance with applicable repossession and consumer protection laws.
• Manage the resale and disposition of repossessed mobile homes, including pricing strategy, coordination with dealers, auctions, and resale partners, with a focus on maximizing recovery and minimizing losses.
• Direct asset resolution and disposition activities across all real…