AVP, Loss Mitigation
Fay Servicing - dallas, TX
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Founded in early 2008, Fay Servicing is committed to providing innovative servicing solutions for both performing and non-performing mortgage loans. As a specialty mortgage servicer who sees the customer behind every loan, we understand that our customers aren't loan numbers they're homeowners. Before founding our company, we conducted an exhaustive analysis of the mortgage servicing industry and gained valuable insight into the problems facing mortgage servicers and their customers. With that insight, we set out to build a different kind of servicing company from the ground up. Come join us on our journey to serve our customers and be the leader in our industry! We are currently looking for an AVP, Loss Mitigation to join our team! Reporting to the VP, Default Servicing, this position focuses on the management of loss mitigation processes, understanding loss mitigation strategies, foreclosure prevention, and regulatory compliance. This role leads a dedicated team of loss mitigation professionals to implement and optimize loss mitigation initiatives, collaborating with internal departments to achieve operational success. This position is responsible for developing and enhancing loss mitigation policies, analyzing performance metrics, driving process improvements, and contributing to the overall success of our Default Servicing department. Additionally, the AVP, Loss Mitigation is responsible for managing performance, fostering development, and providing mentoring to employees with the goal of evaluating talent in a continuing effort to increase the efficiency of the department. This position leads and participates in projects designed to evolve and advance the performance of the Loss Mitigation function. What you will do for Fay: Build and lead a high-performing team of Loss Mitigation professionals through effective acquisition, onboarding, and training of talent. Manage performance and foster the development of employees Serve as the first point of escalation for all issues related to the underwriting and evaluation of loss mitigation cases. Monitor daily reports of all completed Loss Mitigation Packages (LMPs) and assign accounts with newly completed LMPs to staff members to begin underwriting Ensure all accounts with complete LMPs are evaluated and a decision rendered and communicated to the borrower in writing within 30 days of the LMP completion date Communicate with Account Management and/ or other Operations staff when the timely completion of each borrower evaluation is jeopardized and work with the appropriate parties to resolve the issue. Develop and execute a plan to ensure the decision is made and communicated within 30 days following a complete package Create and keep up to date all relevant departmental procedures related to all functions fulfilled by the Loss Mitigation Underwriter Randomly sample completed evaluations from each member of the staff for an internal QA review to ensure quality and accuracy of income calculation and investor/ company guideline adherence. The results of these QA reviews will be reported to corporate QA and QC departments on a monthly basis. Review, make recommendations for, and update/ write new policies and procedures to increase quality, compliance and efficiency, and to improve turn times. Establish a strong working relationship with other departments and establish lines of communication. Conduct regular staff meetings to ensure employees are up to date on all departmental, company, and compliance-related items. Develop processes with effective automation, reporting and QA controls that prevent compliance issues, provide consistently positive customer experiences, and drive operational efficiencies Train staff on departmental policies and procedures. Approve time off requests and weekly timecards. May collaborate on projects within the department or cross-functionally Develop domain knowledge of Fay's business to include an understanding of short-term goals and long-term strategies for the organization Maintain broad influence through ongoing development of productive cross-functional relationships across the organization Ensure compliance with Fay's policies, processes, and practices. Maintain current working knowledge of federal, state, and local regulatory requirements; ensure audit and control processes are current and followed in compliance with Fay's policies, department objectives, federal and state requirements Role model ethical standards, professionalism, and code of conduct Ensure demonstrated behaviors align with Fay's Values and Operating Principles Perform other duties and responsibilities as assigned What you will bring to Fay: Bachelor's degree in Business or related field (or equivalent combination of years of experience with High School diploma/ GED) 4+ years' experience in Loss Mitigation required 5+ years' experience in mortgage servicing required 2+ years' experience in leadership experience preferred 2+ years' experience working in a fast-paced work environment required Analytical skills to distribute and allocate resources Strong customer service skills Strong knowledge of Microsoft Office products (Excel, Word, and PowerPoint) Strong leadership with proven ability to foster an environment of positive employee engagement and trust Demonstrated ability to establish credibility; coupled with recognizing and supporting the organization's culture, values, and priorities Strong verbal and written communication skills Strong listening skills with the ability to facilitate meetings and effectively lead discussions Strong interpersonal skills with the ability to develop and maintain effective relationships across the organization Strong analytical skills Strong problem-solving abilities; ability to analyze and interpret data to identify opportunities and propose well-developed solutions Solid decision-making abilities coupled with sound judgment Strong organizational skills; effective time management for self and team Ability to effectively prioritize under tight deadlines in a fast-paced, dynamic environment Client-focused with strong execution skills and results orientation Strong attention to detail; strong compliance orientation; high quality of work product Ability to effectively manage through change; agile; high learning agility Effective management skills include talent selection, training, coaching, mentorship, and performance management Collaborative and consultative work style; high team orientation Compliance orientation Self-directed; comfortable working with ambiguity and uncertainty; ability to proactively ask questions and surface issues/ concerns Strong project management skills Professional maturity, integrity, ability to maintain confidential data and information Strong business acumen; strong fiscal and technical aptitude Equity and Inclusion are embedded into our way of working at Fay. We believe that the best ideas come from having a team that is diverse in backgrounds, experiences, and perspectives. We strive to ensure each of our employees feels valued, respected and included and is presented with equal opportunities to be successful here at Fay. We are proud to be an equal-opportunity workplace. The Fay Group and affiliated companies participate in E-Verify. For more information go to E-Verify is a registered trademark of the U.S. Department of Homeland Security.
Created: 2024-10-19