loanDepot

Director, Default Management

loanDepot • $124K — $170K *
Plano, TX 75025In-Person
Finance & Insurance
8 - 10 years of experience
Today
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Job Overview by Ladders

Qualifications

  • High school diploma required; Bachelor's degree preferred.
  • 10+ years of experience in Mortgage Servicing, specifically in Post Liquidation Operations.
  • 5+ years of supervisory experience managing teams of 5-15.
  • Proficiency in Black Knight Financial Services (MSP/BKFS) servicing system for 4+ years.
  • Experience with compliance to federal and state mortgage servicing regulations, as well as investor guidelines.

Responsibilities

  • Manage day-to-day workflows and vendor communications for Post Liquidation teams.
  • Develop and improve performance metrics, KPIs, and reporting summaries for leadership.
  • Analyze and implement workflow enhancements and technology solutions.
  • Ensure compliance and financial risk controls in processes and systems.
  • Lead and develop staff through performance management and training programs.
  • Collaborate with various partners to address operational issues and support business objectives.
  • Monitor regulatory changes and implement necessary process updates.

Benefits

  • Aggressive compensation package based on experience and skills.
  • Inclusive and diverse workplace culture for all backgrounds.
  • Opportunities for internal growth and professional development, including tuition reimbursement.
  • Comprehensive medical, dental, and vision benefits.
  • Wellness program supporting mental and physical health.
  • Generous paid time off policy.
Full Job Description
Description

Position at loanDepot

Position Summary:

Responsible for managing the administration of Post Liquidation processes related to Default Management in a high loan volume nationwide environment. Areas of concentration own and lead Property Preservation, REO and Claims teams. Proven people leader emphasizing team member development, performance and talent management. Requires handling numerous projects and initiatives simultaneously while optimizing team performance, mitigating regulatory, investor and financial risk. Ensuring the proper management of vendors to support operations in the Property Preservation, REO and Claims functions owning invoice reconciliation. Oversees the day-to-day key workflow processes essential to meeting timeline performance in relation to all Post Liquidation actions. Responsibilities include ensuring compliance and adherence to all Agency, Investor and Mortgage Insurer guidelines

Responsibilities:
  • Manages Post Liquidation teams' day-to-day workflows, intercoms, work queues, outsourced functions, and vendor communications to ensure timely delivery, adherence to policies and procedures, and compliance with investor, insurer, and company requirements.
  • Manages, develops, and continuously improves performance metrics, KPIs, colleague scorecards, and assigned portfolios; provides weekly and monthly performance summaries and production reports to leadership.
  • Creates, reviews, analyzes, and monitors daily, weekly, and monthly exception reports and KPI reporting to identify trends, improve timeline performance, reduce aged inventory, and support operational decision-making.
  • Analyzes, develops, and implements workflow enhancements, process improvements, and technology solutions within the Claims and Post Liquidation functions to increase efficiencies, improve quality, and minimize operational costs and errors.
  • Enhances and maintains quality, compliance, and financial risk controls within processes, procedures, and system applications to ensure operational effectiveness and regulatory compliance.
  • Assists in the development, evaluation, implementation, and continuous improvement of departmental policies, procedures, controls, and operating standards.
  • Leads and develops staff through performance management, goal setting, training, coaching, and recognition programs to strengthen knowledge, accuracy, productivity, and overall team performance while fostering a positive and collaborative culture.
  • Maintains communication and collaborates with Loss Mitigation, Default Services, General Counsel, attorneys, vendors, investors, and other business partners to address operational issues, resolve loan-level matters, and support business objectives.
  • Provides timely recognition and escalation of legal, compliance, operational, and loan-level issues; researches, resolves, and communicates risks, delays, and status updates to appropriate stakeholders.
  • Performs productivity, quality assurance, and compliance reviews; monitors performance results and provides leadership with progress reports and notifications of issues that may impact productivity, compliance, or customer and investor requirements.
  • Manages and resolves Post Liquidation matters, including REO sales, loss analysis, conveyance activities, vendor performance, court delays, and investor reporting requirements to ensure timely completion within established guidelines.
  • Serves as the subject matter expert for Post Liquidation operations and production reporting, reviews and analyzes operational results, provides reasons for delays, responds to stakeholder inquiries, and recommends appropriate business actions.
  • Monitors changes in statutory, regulatory, investor, and insurer requirements and ensures timely implementation of related processes, policies, and operational updates.
  • Performs other duties as and projects assigned.

Requirements:
  • High School Degree or equivalent required; Bachelor's degree preferred.
  • Minimum of ten (10) + years' experience in the Mortgage Servicing industry, mortgage default-related experience in Post Liquidation Operations.
  • Minimum of four (5) + years' experience supervising staff of 5-15 employees.
  • Minimum of three (4) + years' experience and shown proficiency in Black Knight Financial Services (MSP/BKFS) servicing system.
  • Experience working within Federal and State regulations related to Mortgage Servicing.
  • Experience working within investor and insurer guidelines related to FNMA, FHLMC, GNMA, VA, FHA and USDA.
  • Experience with oversight of vendors and outsourcing firms.
  • Bilingual (English and Spanish) a plus.
  • FCRA training/certification preferred.
  • FDCPA training/certification preferred.
  • Proficient with Microsoft Office applications: Word, Excel, PowerPoint, Outlook, and Teams.
  • Ability to interpret data and apply basic to intermediate math skills.
  • Exceptional verbal, written and interpersonal communication skills.
  • Solid problem-solving skills with a practical, solution-focused approach.
  • In-depth working knowledge of Claims process adherence, deep understanding of Loss Analysis structure, data and invoice mapping in core servicing system MSP.
  • Strong working knowledge of vendor services performed in the Claims, REO and Loss Analysis and demonstrated skills associated with invoice management.

Why work for #teamloanDepot:
  • Aggressive compensation package based on experience and skill set.
  • Inclusive, diverse, and collaborative culture where people from all backgrounds can thrive.
  • Work with other passionate, purposeful, and customer-centric people.
  • Extensive internal growth and professional development opportunities including tuition reimbursement.
  • Comprehensive benefits package including Medical/Dental/Vision.
  • Wellness program to support both mental and physical health.
  • Generous paid time off for both exempt and non-exempt positions.

Base salary is one piece of our total rewards package and is structured within a range so you can progress as you grow in the role. For this position, the anticipated annual base salary range is $124,000 to $170,500 nationally. In certain high-cost geographic markets (CA), the anticipated annual base salary range is $130,000 to $179,500. Actual compensation will depend on your skills, experience, qualifications, and the work location tied to our geographic pay structure.

About loanDepot

LoanDepot, sometimes stylized as loanDepot, is a Lake Forest, California-based holding company which sells mortgage and non-mortgage lending products. In 2015, the company claimed to be the second largest non-bank provider of direct-to-consumer loans in the United States. LoanDepot was founded in 2010 by entrepreneur Anthony Hsieh, who had previously founded mortgage companies LoansDirect.com which he sold to E*Trade, and HomeLoanCenter.com, which he sold to LendingTree. The company's products at the time included fixed rate, jumbo, FHA and home equity loans, in addition to more controversial adjustable-rate mortgages and negative amortization products. In November 2015, the company postponed a planned IPO, citing poor market conditions. In March 2017, the company introduced technology to automate the loan process, allowing customers to apply for a mortgage without talking to a loan officer. In January 2018, the company announced two products as part of its technology platform, now called Mello, a home improvement unit to allow contractors to offer financing to customers, and Mello Home, a platform to connect pre-approved buyers to realtors. In September 2019, the company partnered with Century 21 Redwood Realty to form a new mortgage platform for the mid-Atlantic area, Day 1 Mortgage. loanDepot went public on the New York Stock Exchange on February 11, 2021 under the ticker symbol LDI.
Learn more about loanDepot
Market Cap
$453.5 million
Industry
Finance & Insurance
Founded
2010
5 Year Trend
+26.8%
NASDAQ
LDI
* Ladders Estimates

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