Avp, Loss Mitigation

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 employeesServe 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 underwritingEnsure 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 dateCommunicate 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 packageCreate and keep up to date all relevant departmental procedures related to all functions fulfilled by the Loss Mitigation UnderwriterRandomly 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 efficienciesTrain staff on departmental policies and procedures.Approve time off requests and weekly timecards.May collaborate on projects within the department or cross-functionallyDevelop domain knowledge of Fay's business to include an understanding of short-term goals and long-term strategies for the organizationMaintain broad influence through ongoing development of productive cross-functional relationships across the organizationEnsure 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 requirementsRole model ethical standards, professionalism, and code of conductEnsure demonstrated behaviors align with Fay's Values and Operating PrinciplesPerform other duties and responsibilities as assignedWhat 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 required5+ years' experience in mortgage servicing required2+ years' experience in leadership experience preferred2+ years' experience working in a fast-paced work environment requiredAnalytical skills to distribute and allocate resourcesStrong customer service skillsStrong knowledge of Microsoft Office products (Excel, Word, and PowerPoint)Strong leadership with proven ability to foster an environment of positive employee engagement and trustDemonstrated ability to establish credibility; coupled with recognizing and supporting the organization's culture, values, and prioritiesStrong verbal and written communication skillsStrong listening skills with the ability to facilitate meetings and effectively lead discussionsStrong interpersonal skills with the ability to develop and maintain effective relationships across the organizationStrong analytical skillsStrong problem-solving abilities; ability to analyze and interpret data to identify opportunities and propose well-developed solutionsSolid decision-making abilities coupled with sound judgmentStrong organizational skills; effective time management for self and teamAbility to effectively prioritize under tight deadlines in a fast-paced, dynamic environmentClient-focused with strong execution skills and results orientationStrong attention to detail; strong compliance orientation; high quality of work productAbility to effectively manage through change; agile; high learning agilityEffective management skills include talent selection, training, coaching, mentorship, and performance managementCollaborative and consultative work style; high team orientationCompliance orientationSelf-directed; comfortable working with ambiguity and uncertainty; ability to proactively ask questions and surface issues/ concernsStrong project management skillsProfessional maturity, integrity, ability to maintain confidential data and informationStrong business acumen; strong fiscal and technical aptitudeEquity 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.
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