18515 S Laurelbrook Circles Cerritos, CA 90703 s (562)305-4105 s firstname.lastname@example.org
Loss Mitigation – Strategic Planning – Change Management
Growth oriented, results driven executive with Default Management expertise in mortgage servicing, with quantified results in mitigating losses and loss recovery. Proven proficiency in servicing oversight/surveillance, promoting best-practices and driving performance. Demonstrated ability to improve processes, reduce costs, and increase efficiency/productivity. Deep understanding of the loan servicing life cycle, from loan boarding through REO. Wide breadth of knowledge in underwriting, funding, and capital markets cash flow. Excels in building teams to achieve cross-functional objectives while maximizing corporate expense challenges. Strategic thinker who recognizes operational deficiencies and implements solutions that deliver high impactto internal and external customers.
– Saved/recovered over $11M in losses annually by proactively pursuing foreclosure alternatives on a national basis. [Radian]
– Reduced subprime delinquencies for 3rd party servicer by 40% within a 9 month period. [Radian]
– Through centralization and advanced training of various departments, decreased operating expenses by $750k, reduced staffing model by 14%, and reclaimed $750k in unnecessary expenses. [New Century Mortgage]
–Servicer Oversight/Surveillance –Default Management/Loss Recovery
–Operational Risk Management –Strategic Planning / Implementation
–Process Improvement –Project / Product Leadership
–Call Center Operations –Relationship/Vendor Management
– Provide consultation on the mortgage industry (originations, servicing, capital markets) to various GLG clients, including Wall Street Firms, Fund Managers, and Equity Investors.
– Consult topics include Loss Mitigation/Default Management, Third Party Providers, Technology, Outsourcing, Capabilities, Controls, Economics, General Servicing and Origination, Capital Markets, Mortgage Insurance/Credit Enhancements.
NEW CENTURY MORTGAGE Santa Ana, CA
Provides mortgage products to consumers.
Vice President, Operations/Default Management
2004 to 2006
Direct Oversight: Loss Mitigation, Bankruptcy, Foreclosure, Quality Control, Servicing Compliance, Customer Advocacy, Business Development, IT Support, Reporting/Analytics, Cash Management
– Generated annual cost reduction of approx. $1M as well as adherence to higher service level agreements as a result of effective vendor viability studies and contract negotiations.
– Created Special Servicing unit within Loss Mitigation, focusing on junior liens. Eliminated hundreds of thousands of dollars in losses, including unnecessary charge-offs.
– Developed customer facing website, featuring real-time information and online bill payment (22% ROI in 18 months). Decreased inbound customer calls by 19% and in-house payment processing by 30% with decreases in staffing model.
– Implemented customer advocate and best-practices groups. Reduced legal and headline risk for the division through root cause analysis, education and resolution of issues.
– Created new policies to timely follow up on claims, including supplemental claims, curtailments and denials.
– Established central Cash Management department, handling and reconciling all loan-level disbursements, including suspense clearing, non-recoverable items, and default cash.
Director, Business Development
2003 to 2004
– Implemented technology for data warehousing/reporting, reducing the timeframe for reporting and analytics by 66%.
– Designed division-wide cross training program that resulted in the highest associate engagement rating (94% as measured by the Gallup Organization) within the company. The program allowed associates a better understanding of the company and the industry and provided a fully developed pool for succession planning.
– Created central departments for direct oversight of call center agents. Expanded to include other production areas (loss mitigation, customer service, bankruptcy, foreclosure, and REO), resulting in improved process controls and productivity, as well as obtaining above average ratings from Fitch, Moody’s, and S&P.
Global credit risk management company for public finance and corporate and consumer assets
Assistant Vice President, Servicing Relations – Western Region
2000 to 2003
– Direct oversight of servicing procedures for 3rd party servicing entities, strong emphasis on default areas.
– Provided recommendations and suggestions for performance improvement including industry best-practices and technology.
– Oversaw client relations as servicing lead in due diligence for the western United States, and key national accounts.
– Reviewed, analyzed, and managed loan servicing operation of clients with input to Risk Management committee on findings/issues for participation in pricing models.
– Designed/implemented proprietary model for scoring servicers on a risk/performance basis.
– Developed and implemented technological enhancements including behavioral scoring model to prioritize caseloads.
– Successfully managed relationships with servicing clients and non-servicing 3rd parties, including coverage eligibility, loss mitigation, claim settlement negotiation, REO handling, and loss recovery.
Assistant Vice President, Loss Mitigation (Philadelphia, PA)
1998 to 2000
– Initiated distinct Loss Mitigation groups (proactive and reactive) to more effectively handle inbound and outbound volume, as well as to track actual stats of both groups and implement change to produce superior results.
– Designed and programmed portfolio analysis reports/procedures, to effectively target and prioritize potential company losses, particularly for the Proactive Loss Mitigation area.
– Created/refined business rules and integrated into a decision model for loss mitigation cases. Substantially reduced financial analysis and completely automated form preparation.
– Supervised loan workout and data entry departments. Administered foreclosure prevention on prime and sub-prime conventional insured loans.
– Ensured client compliance with Loss Mitigation Delegated Guidelines and company training manual.
Villanova University – Green Belt Six Sigma