Vice President of Loss Mitigation and Collections

About the Role

The Vice President (AVP), Loss Mitigation provides strategic leadership, operational management, and regulatory oversight of the Loss Mitigation departments. The role oversees delinquency management, borrower outreach, collections, hardship assistance, loan workouts, foreclosure prevention, and default servicing while ensuring compliance with federal and state regulations, investor requirements, and company policies. The VP develops strategies that maximize portfolio performance, reduce credit losses, improve borrower outcomes, and enhance the customer experience.

Responsibilities

• Provide strategic direction for Loss Mitigation and develop departmental goals and KPIs.
• Lead managers over Loss Mitigation, Underwriting, Quality Assurance, and Escalations.
• Develop staffing plans, budgets, succession planning, and employee development initiatives.
• Report departmental performance to Executive Leadership.
• Oversee repayment plans, forbearance, loan modifications, FHA-HAMP, VA, USDA, Fannie Mae and Freddie Mac workout programs, short sales, deeds-in-lieu, foreclosure referrals, appeals, and borrower escalations.
• Improve delinquency roll rates, cure rates, collections effectiveness, foreclosure avoidance, modification success, and loss severity.
• Maintain compliance with CFPB, RESPA, TILA, FDCPA, ECOA, Fair Housing Act, UDAAP, SCRA, Bankruptcy Code, investor guidelines, and state servicing regulations.
• Ensure servicing compliance with Fannie Mae, Freddie Mac, Ginnie Mae, FHA, VA, USDA, private investors, and portfolio servicing requirements.
• Lead Quality Assurance, Quality Control, process improvement, automation, workforce planning, vendor oversight, and business continuity initiatives.
• Monitor portfolio trends, operational risk, foreclosure pipelines, audit findings, and corrective action plans.
• Develop executive dashboards for collections, delinquency, modifications, foreclosure, investor scorecards, compliance metrics, and operational productivity.
• Manage vendors supporting foreclosure, bankruptcy, property preservation, payment processing, and servicing technologies.

Qualifications

• Bachelor's degree in business administration, Finance, Accounting, Economics, Risk Management, or related field (master's degree preferred).
• Minimum 5 years of mortgage servicing experience.
• Minimum 3 years of progressive leadership experience in Loss Mitigation or Default Servicing.
• Extensive knowledge of FHA Loss Mitigation, VA Servicing, USDA Servicing, Fannie Mae Servicing, Freddie Mac Servicing, Ginnie Mae Programs, and Private Investor Programs.
• Experience managing large operational teams.
• Experience interacting with regulators, auditors, investors, and executive leadership.

Skills

Technical Knowledge

• Mortgage servicing operations
• Default servicing processes
• Investor guidelines
• Mortgage servicing systems
• Regulatory compliance requirements
• Foreclosure prevention programs
• Portfolio analytics and reporting

Leadership Skills

• Strategic planning
• Team development
• Change management
• Executive communication
• Project management
• Decision making

Analytical Skills

• Data analysis
• Trend identification
• Operational forecasting
• Risk assessment
• KPI development and monitoring

Communication Skills

• Executive presentations
• Regulatory responses
• Investor communications
• Employee coaching and development

Schedule

This is a full-time, office-based position in Troy, MI. Standard working hours are Monday to Friday, 9:00 AM to 6:00 PM.

Benefits

• Comprehensive benefits package including PTO, sick days, and paid volunteer hours.
• Medical, dental, and vision insurance.
• 401(k) retirement plan.

Career and Culture

Inclusive, supportive company culture where employees are valued and heard. Defined paid training and clear pathways for career development.