Foreclosure & Default Resolution Manager

Requisition Number: FOREC
005504

• Full-Time
• Hybrid

Lone Tree Corp Office Home Office 9990 Park Meadows Dr Lone Tree, CO 80124, USA

We’re passionate about transforming financial services. Our members, families, and the communities we call home motivate everything we do. As part of the credit union movement, we believe in providing our members with education, support, and guidance to build strong financial futures.

At Canvas, we’re dedicated to transforming financial services from the inside out. Our culture is a top priority and second to none. We strive to balance hard work and high achievement with a fun, supportive environment.

At Canvas, there are 5 behaviors we live by each day that will continue to help us be known for our heart and our people:

The Foreclosure & Default Resolution Manager is responsible for leading the execution of foreclosure activities and late‑stage default servicing strategies across the mortgage portfolio. This role ensures compliant, timely, and member‑focused resolution of non‑performing loans while aligning with investor guidelines, including Fannie Mae requirements, and all applicable federal, state, and regulatory standards. The position balances operational excellence, risk mitigation, and member experience by driving effective foreclosure management, vendor oversight, and default resolution strategies that minimize losses and preserve home retention opportunities when possible.

• Oversee all stages of foreclosure, including referral, timeline management, sale, and post‑sale activities.
• Ensure adherence to investor requirements (Fannie Mae, FHA, VA, etc.) and state‑specific foreclosure laws.
• Monitor and manage foreclosure timelines, milestones, and exception tracking.
• Lead escalation resolution for complex or high‑risk default cases.
• Evaluate current credit bureau reports, O&E (Ownership and Encumbrance) reports, and other lender foreclosure notices and other pertinent property encumbrances and issues as needed.
• Coordinate current property valuations, or appraisals as needed for effective property value review.
• Conduct ongoing analysis of solutions provided to members with a specific strategy devised toward meeting objectives.
• Responsible for the negotiations, analysis and approval of loan modification arrangements on all consumer loans.
• Management of Canvas’s REO (Real Estate Owned) portfolio.
• Responsible for foreclosure management for Fannie Mae and portfolio mortgage loans.
• Manage Short Sale Administration on Fannie Mae and portfolio mortgage loans.
• Responsible for Fannie Mae workout loan file preparation, management and tracking.

• Ensure full compliance with Fannie Mae Servicing Guidelines and other agency/investor requirements.
• Maintain controls aligned with CFPB, NCUA, and state regulatory expectations.
• Oversee foreclosure audits, quality control reviews, and compliance reporting.
• Partner with compliance and legal teams to address regulatory changes and implement process updates.
• Manage foreclosure attorneys, trustees, and vendor partners to ensure performance, quality, and compliance.
• Establish and monitor KPIs, SLAs, and scorecards for third‑party providers.
• Review legal actions, pleadings, and foreclosure documentation for accuracy and completeness.
• Control foreclosure‑related expenses and ensure cost efficiency.

• Collaborate with Loss Mitigation leadership to ensure appropriate borrower outreach and home retention efforts prior to foreclosure.
• Support decisioning frameworks for foreclosure referral, postponement, or alternative resolution strategies.
• Drive strategies to reduce foreclosure starts, timeline delays, and loss severity.

• Develop and report on key performance indicators, including:
  • Foreclosure cycle times
  • Liquidation timelines
  • Roll rates and resolution outcomes.
  • Loss severity and recovery metrics
• Provide executive‑level reporting and insights to senior leadership
• Prepare files and analysis for presentation to the Special Assets and Real Estate Committee review.
• Analyze and arrange complex payment arrangements,…