VP, Default Servicing- Loss Mitigation

Founded in early 2008, Fay Servicing is committed to providing innovative servicing solutions for both residential and business-purpose loans. As a specialty mortgage servicer who sees the customer behind every loan, we understand that our customers are not 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.

Join us on Our Journey

Come join us on our journey to serve our customers and be the leader in our industry! We are currently looking for a VP, Default Servicing -Loss Mitigation to join our team!

Reporting to Servicing Leadership, this position is responsible for leading and developing the Default Servicing function and teams. This position manages the creation, organization, and maintenance of Default Servicing processes and frameworks, ensuring compliance with regulatory requirements and industry standards.

The role leads engagements and collaborates with cross-functional teams to implement efficient end-to-end default operations, driving innovation and optimizing workflows. The role is responsible for assessing methodologies that optimize recovery, reduce financial losses, and enhance the overall borrower experience during the default process.

Additionally, this position fosters a culture of excellence, ensuring the highest levels of accuracy and security. This position requires an understanding of Default Servicing practices within the mortgage industry, coupled with effective leadership skills to grow and enhance the capabilities of the Default Servicing function.

Qualifications include:

• Bachelor's degree in Business or related field (or equivalent combination of years of experience with High School diploma/GED)
• 8+ years' experience in the mortgage servicing industry
• 5+ years' experience in Default Servicing Management roles required
• 5+ years' experience managing people and leading teams
• In-depth knowledge of agency reporting requirements, claim filing, auditing of financial information, and mortgage documents, including collateral
• Demonstratable experience successfully leading servicing-related projects and initiatives with cross-functional teams
• Analytical skills to distribute and allocate resources
• Depth of experience working in a fast-paced work environment
• Strong skills and experience in MS Word, Excel, and PowerPoint
• Lead back-office Loss Mitigation operations, overseeing the end-to-end processing of borrower assistance applications, including intake, underwriting review, and fulfillment.
• Manage teams responsible for evaluating loss mitigation eligibility and implementing approved solutions, including preparing and executing loan modifications
• Oversee a non-customer-facing operational function, ensuring efficient processing, compliance, and coordination with borrower-facing departments while focusing strictly on internal servicing operations

Submit Your Resume to Learn More

Featured Benefits

• Medical, Dental, and Vision Insurance
• Company Paid Life Insurance
• Disability Insurance
• Pet Insurance
• 401k Program with Employer Matching
• 3 Weeks Paid Time Off (PTO)
• Paid Holidays
• Wellness Initiatives
• Employee Assistance Program
• Eligible for Hybrid Work Schedule with Remote Flex Days

Compensation

• The hiring range for this position is between $95,000.00-$125,000.00 annually
• This position is eligible for an annual discretionary bonus

Fay Cares!

The Fay-Constructive Foundation was established to fulfill the philanthropic mission of The Fay Group employees to serve the communities in which they live and work. Our employees make voluntary contributions to the Foundation. Each quarter, their contributions are donated to organizations focused on improving education opportunities, combating poverty, and supporting military service members and first responders.

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. Fay is an equal-opportunity workplace. The Fay Group and affiliated companies participate in E-Verify. For more information, go to www.dhs.gov/E-Verify.