Position Details


Director of Default / Foreclosure Mortgage Servicing and Oversight
Full Time Direct Hire
Salary is DOE (target is ~130-150k+)
Lisle, IL 60532 (Chicago) – relocation assistance is available

Director of Default, Servicer Oversight will be responsible for managing default proceedings in collaboration with foreclosure attorneys and provide oversight to any servicers or sub-servicers handling defaulted CMBS assets. The Director of Default will provide analysis and recommendations pertaining to Foreclosure, Bankruptcy, Litigation, and REO through information/ data obtained in detailed loan level reviews. The level of assessment must ensure that our company and its servicers are consistently adhering to all applicable guidelines and meeting all federal and state regulatory requirements while mitigating reputational risk and losses to the firm.

Required Skills / Experience:
• Extensive Mortgage Servicing or Oversight experience
• Default / Foreclosure experience
• Experience in quality control reviews of loan documentation, loan or servicing compliance, lending, loan default servicing or a closely related field
• Able to work hands on and manage a small team
• Proficient in Microsoft Office Suite with advanced Excel skills to analyze and reconcile transactional data and create monthly reporting of audit results

• Direct or strong indirect experience with legal matters / litigation related to Defaults / Foreclosures
• Experience with commercial renovations
• High level understanding of SQL or similar reporting and analytics tools
• Project Management Professional Certification

Soft Skills:
• Must be self-motivated, passionate, independent, extremely detailed oriented, well-organized, able to work with minimum supervision and work well with all staff levels
• Must have strong analytical and problem-solving skills, and can learn quickly and retain knowledge of product requirements
• Must be flexible and able to adapt with change
• Excellent written and oral communication skills

• Manage internal staff & vendor oversight for Foreclosure, Bankruptcy, Litigation, Property Preservation and Real Estate Owned properties
• Monitor timelines and reporting to identify servicer deficiencies, implement action plans, establish controls, and validate resolution
• Ownership of Title Claim curative activity
• Actively communicate with internal and external foreclosure attorneys to maintain deadlines and maximize efficiency
• Position will be required to learn and possess an in-depth knowledge of default servicing, regulatory procedures, state timelines, and assist with monitoring group servicing emails
• Identify default trends from underwriting through maturity as they pertain to renovations loans, bridge loans, commercial portfolio loans, and fix n flip financing
• Monitor Legacy Mortgage on-boarding activities to new Servicing Platform and ensure processes are running accurately, smoothly and in compliance with investor and regulatory guidelines
• CMBS asset management and coordination of all activities with multiple asset managers and in compliance with governing documents.

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