loanDepot

VP, Loss Mitigation

loanDepot • $125K — $150K *
Plano, TX 75025In-Person
Finance & Insurance
8 - 10 years of experience
Today
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Job Overview by Ladders

Qualifications

  • Bachelor's Degree, or extensive experience in Loss Mitigation
  • 10+ years in Mortgage Servicing industry
  • 10+ years in Foreclosure, Bankruptcy, and Real-estate owned loan administration
  • 10+ years Proficiency in Black Knight Financial Services (MSP/BKFS)
  • Knowledge of Federal and State Mortgage Servicing regulations
  • Familiarity with FNMA, FHLMC, GNMA, VA, FHA, and USDA guidelines
  • Management experience with diverse staff

Responsibilities

  • Manage Default Operations and all aspects of Loss Mitigation
  • Create and update policies/procedures in line with changing regulations
  • Implement and manage performance metrics for portfolio evaluation
  • Develop internal communication for effective change management
  • Track multiple projects and manage company finances for cost efficiencies
  • Supervise staff and outsourcers related to servicing and compliance issues
  • Conduct research and respond to audit requests from investors and regulators

Benefits

  • Aggressive compensation package based on experience
  • Inclusive and diverse workplace culture
  • Opportunities for professional growth including tuition reimbursement
  • Comprehensive benefits package including Medical/Dental/Vision
  • Wellness program for mental and physical health support
  • Generous paid time off for employees
Full Job Description
Description

Position at loanDepot

Position Summary:

Responsible for executing the build out of the Loss Mitigation Department including, implementation of new processes, improving and updating procedures, tracking and implementing changes as released by investors, insurers, regulatory and legislative bodies. Oversees and manages the daily administration of loans in Loss Mitigation. Manages relationships with key vendors, as well as internal business partners. Provides training and mentorship as needed. Directly and indirectly manages staff with the goal of enhancing professional development and personal growth. Ensures the performance of all duties in accordance with the company's policies and procedures, all U.S. state and federal laws and regulations, wherein the company operates.

Responsibilities:
  • Manages Default Operations overseeing all areas of Loss Mitigation. Creates/updates Policies and procedures while monitoring changes in statutory, regulatory, investor and insurer guidelines and requirements.
  • Implements and manages performance metrics of assigned portfolio and exception reports.
  • Develops internal communication channels to ensure change management processes are developed and adhered to.
  • Tracks multiple on-going projects simultaneously and assists in managing the company finances; identify ways to decrease costs.
  • Maintains communication with all business units and provides timely recognition and review of items that must be escalated to legal and proper departments.
  • Monitors monthly, weekly and daily exception reports to ensure accuracy of production.
  • Supervision of Outsourcer(s) and staff on issues relating to areas of responsibility, servicing systems, processes and procedures; including maintaining accurate records and reports.
  • Researches and responds to investor and regulatory audit requests.
  • Administers changes in investor, insurer, legislative and regulatory bodies and implements effective change management to ensure compliance.
  • Strives to achieve the highest net recovery possible for liquidated loans by minimizing the expense of management, insuring effective timeline management and disposition of Assets.
  • Provides training and guidance of staff to expand knowledge of job functions and maintains a system of review to ensure accuracy and strengthen performance.
  • Conducts oversight of Outsource Asset Management vendors by using effective measurement of metrics and develops Vendor scorecards.
  • Participates in development, or implementation, of technology for use in areas of responsibility to manage and create efficiencies to reduce and control costs.
  • Researches and resolves global and loan level issues.
  • Provide opportunities for learning and growth to staff, ensures adequate and proper staffing; implements and manages employee performance evaluations.
  • Performs other duties and projects as assigned.

Requirements:
  • Bachelor's Degree, and/or extensive experience in Loss Mitigation.
  • Minimum of ten (10) + years' experience in the Mortgage Servicing industry.
  • Minimum of ten (10) + years' experience in administration and servicing loans in Foreclosure, Bankruptcy and Real-estate owned.
  • Minimum of ten (10) + years' experience and shown proficiency in Black Knight Financial Services (MSP/BKFS) servicing system.
  • Experience with Federal and State regulations related to Mortgage Servicing.
  • Experience with investor and insurer guidelines related to FNMA, FHLMC, GNMA, VA, FHA and USDA.
  • Management or supervisory experience of a staff with diverse work skills.

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.

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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