Manager, Foreclosure Loss Mitigation

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Regular Full-Time Management Remote NY, NY, US

8 days ago Requisition

Salary Range: $78,400.00 To $98,000.00 Annually

At Municipal Credit Union, we believe that an incredible culture helps create a happy and motivated team that works hard to achieve the best results for themselves and their members. For more than 100 years, MCU has provided affordable financial products and convenient services to a membership base that is now comprised of over 600,000 individuals. With each new generation we have the pleasure of interacting with, we maintain the credit union promise of people helping people.

To help hard-working New Yorkers build better tomorrows

Be New York's most loved financial institution by helping our members build their best financial futures

The Manager, Foreclosure Loss Mitigation provides leadership and oversight of mortgage collections and foreclosure loss mitigation activities on all real estate loan accounts. They are responsible for assisting with the creation and execution of the department’s short and long term strategy, including department goals, initiatives and resource allocation. Partners with other business unit’s partners to develop customer strategies resulting from new systems processes and or retention plans.

• Manage the end-to-end loss mitigation process for delinquent mortgage loans, including repayment plans, loan modifications, short sales, deeds-in-lieu, foreclosures, and REOs.
• Monitor delinquency and foreclosure pipelines, ensuring timely action and compliance with regulatory timelines.
• Oversee foreclosure processes from referral through completion, ensuring compliance with state-specific foreclosure laws.
• Manage REO inventory, coordinating property preservation, valuation, marketing, and liquidation efforts to minimize loss severity.
• Ensure all activities comply with federal and state regulations, investor guidelines, and internal policies.
• Stay current on regulatory updates impacting foreclosure, bankruptcy, and loss mitigation activities.
• Maintain audit-ready files and oversee quality control reviews.
• Direct and oversee performance of foreclosure attorneys, trustees, property preservation vendors, and real estate agents.
• Negotiate and enforce service-level agreements to ensure timelines, accuracy, and cost-effectiveness.
• Supervise and develop a team of loss mitigation specialists, foreclosure processors, and support staff.
• Set performance goals, conduct training, and provide coaching to ensure productivity and compliance.
• Prepare and present monthly reports on delinquency trends, foreclosure pipelines, REO performance, and recovery rates.
• Reviews all real estate bankrupt accounts and determines need for legal assistance and forwards documents to attorneys.
• Effectively communicate with Sr. Leadership, default support groups, members, and investors during foreclosure proceedings.
• Communicate with assigned attorney/trustees to obtain regular updates regarding delays and/or pending inquiries needed to see the foreclosure process to completion.
• Provision timely and accurate figures, information, documents, or instructions to assigned attorney/trustee/vendor within SLA as outlined in foreclosure and/or default procedures.
• Process all fee/cost/figure related inquiries within SLA; to ensure proper loan dispositioning, system coding, investor reporting and/or funds’ processing.
• Ensures all attorney fees/costs and foreclosure costs are within Investor, Fannie Mae, Freddie Mac, FHA, VA, or USDA allowable fees schedules.
• Ensure strict compliance with state and federal collection rules and regulations in all collections/foreclosure practices.
• Perform other related duties as requested and special projects as assigned.

• Bachelor’s degree required or equivalent working experience.
• 7+ years of experience leading teams in mortgage default servicing operations including Collections, Foreclosure, Loss Mitigation.
• Expert knowledge of OCC, CFPB, FDCPA, RESPA and state law servicing…