Single-Family Loan Operations Default Manager

Single-Family Loan Operations Default Manager

United States, Washington, Federal Way

Feb 25, 2026

Mechanics Bank is currently searching for a full-time Single-Family Loan Operations Default Manager to join our team at our Federal Way Operations office.

The Single-Family Loan Operations Default Manager oversees both early stage and late-stage default operations, providing management oversight across the full delinquency lifecycle - from early intervention and collections, credit reporting and default reporting, bankruptcy through collection, loss mitigation, foreclosure, REO conveyance, and reimbursement claims. This role is responsible for ensuring compliance with all investors, insurer, and regulatory requirements while driving operational efficiency, minimizing losses, and meeting critical timelines.

The Single-Family Loan Operations Default Manager also manages third-party vendors and serves as a key escalation point for complex customers, investors, and audit matters.

What you will do:

Operational & Team Management

Direct and oversee the daily operations of early stage and late stage default teams, including collections, credit reporting, default reporting, bankruptcy, foreclosure, claims, and loss mitigation support.

Assign and manage delinquent loan portfolios to ensure effective coverage, timely resolution, and controlled delinquency levels.

Early Stage Default & Collections Oversight

Oversee customer contact strategies, including call monitoring, approved calling schedules, and monthly calling campaigns.

Ensure all customer correspondence, notices, and letters are issued within regulatory and investor guidelines and properly documented in audit logs.

Ensure all proper and accurate default collection status and reason codes are updated timely in the loan servicing system, along with all collection notes.

Handle escalated customer issues and sensitive loan situations, ensuring balanced resolution for both customer and the Bank. Work closely with internal legal resources for any litigation issues.

Monitor delinquency trends and prepare monthly and annual reporting for management.

Ensure default reporting is provided accurately and timely to investors.

Provides oversight of bankruptcy portfolio, providing guidance on issues as needed.

Work closely with all Loan Servicing departments to achieve high level of success in resolving issues and customer satisfaction.

Late Stage Default, Loss Mitigation, Foreclosure, & Claims Oversight

Manage and track all foreclosure activity, including activations, postponements, and completions.

Ensure investor, insurer, and agency timelines and requirements are met throughout foreclosure and post-foreclosure processes.

Oversee REO conveyance to investors and manage property preservation expense reimbursement submissions.

Coordinate and manage mortgage insurance and investor claims, including GSE, government, and private investor reimbursement claims.

Manage the Loss Mitigation portfolio, reviewing pipeline for loan status, regulatory/ICE-MSP/Investor websites/portals ensuring timely and accurate processing of accounts.

Ensure customer contact/outreach is in adherence to investor and regulatory time frames.

Compliance, QA & Audit Management

Implement and maintain procedures to ensure compliance with all investor, insurer, legislative, and internal policy requirements.

Conduct quality assurance reviews of completed foreclosure files and claims to ensure accuracy and compliance.

Manage and evaluate third-party vendors involved in foreclosure, property preservation, and claims processing.

Work closely with attorneys, trustees, investors, insurers, and internal partners to resolve issues and expedite claim closures.

Address escalated issues to ensure timely resolution of reimbursement claims for GSEs, government-guaranteed, and private investors and insurers.

Who you are:

4 year / Bachelors Degree preferred.

Minimum of 7 years experience in mortgage servicing, customer service, and/or collections, with strong preference for loss mitigation, bankruptcy, foreclosure, credit reporting, default reporting and post-foreclosure reimbursement claims experience required.

Minimum of 3 years management experience, preferably overseeing multiple teams or functions required.

Familiarity and/or experience with investor servicing of mortgage and consumer loan portfolio.

Demonstrated experience handling GSE and government investor/insurer expense claim reconciliation.

Strong working knowledge of VA/HUD, FHLMC/FNMA, and private investor/insurer requirements.

Experience working with attorneys and trustees in default and foreclosure situations.

Ability to operate with a high sense of urgency to meet critical deadlines and regulatory time frames.

Software experience preferred: ICE/MSP loan servicing system and Fiserv.

Demonstrated proficiency with Microsoft Suite with focus on Excel, Word, PowerPoint, Access and various reporting writing software and data warehouse.

Strong written and verbal communication skills.

Demonstrated strength and…