VP, Default Servicing

Founded in early 2008, Fay Servicing is committed to providing innovative servicing solutions for both performing and non-performing mortgage loans. As a specialty mortgage servicer who sees the customer behind every loan, we understand that our customers aren't loan numbers - they're homeowners.

Before founding our company, we conducted an exhaustive analysis of the mortgage servicing industry and gained valuable insight into the problems facing mortgage servicers and their customers. With that insight, we set out to build a different servicing company from the ground up.

Come join us on our journey to serve our customers and be the leader in our industry! We are currently looking for a VP, Default Servicing to join our team!

Reporting to Servicing Leadership, this position leads and develops the Foreclosure and Asset Preservation functions and teams. This position is responsible for the creation, organization, and maintenance of Foreclosure and Asset Preservation processes and frameworks, ensuring compliance with regulatory requirements and industry standards.

The role leads engagements and collaborates with cross-functional teams to implement efficient end-to-end Foreclosure and Asset Preservation operations, driving innovation and optimizing workflows. The role is responsible for assessing methodologies that optimize recovery, reduce financial losses, and enhance the overall borrower experience during the default process.

Additionally, the position leads the Foreclosure and Asset Management Teams, fostering a culture of excellence and ensuring the highest levels of accuracy and security. This position requires an understanding of Default Servicing practices within the mortgage industry, coupled with effective leadership skills to grow and enhance the capabilities of the Default Servicing function.

What you will do for Fay:

• Build and lead a high-performing team of Foreclosure and Asset Preservation professionals through effective acquisition, onboarding, and training of talent. Manage performance, foster development, and provide mentoring to employees
• Manage departmental functions by establishing operational controls and standards, monitoring ongoing operations and adjusting priorities to meet changing conditions, establishing and maintaining proper record-keeping and reporting systems, and developing and administering department budget
• Analyze and assess the Company's current foreclosure platforms, technology/ market trends, and competitive threats to determine the potential impact on the business and recommend solutions that will address critical deficiencies or exploit opportunities
• Evaluate and manage HUD-insured and GSE servicing portfolios according to established policies, procedures, workflow, and investor/ insurance guidelines
• Ensure Foreclosure and Asset Preservation timelines and GSE requirements are met
• Update training material and work across department lines to implement changes and necessary training
• Partner with Cash and Investor Accounting departments to manage accurate claims processing, recovery, and accounting
• Function as a valued and contributing member of the Default Management Team and be a catalyst for identifying high payback areas to support the Company's strategic initiatives that enhance the overall ability to support customers at a reduced operating cost
• Identify key drivers of losses that will increase business profitability
• Provide Senior Management with timely updates of monthly/ quarterly projections
• Collaborate on projects within the department and cross-functionally
• Develop domain knowledge of Fay's business to include an understanding of short-term goals and long-term strategies for the organization
• Lead with broad influence through the ongoing development of relationships across the organization
• Maintain current knowledge of federal, state, and local regulatory requirements; accountable to ensure audit and control processes are current, followed, and in compliance with federal/ state requirements
• Ensure compliance with Fay's policies, processes, and practices
• Role model ethical standards, professionalism, and code of conduct
• Model behaviors that align with Fay's Values and Operating Principles. Recognize, reward, and ensure alignment of team
• Perform other duties and responsibilities as assigned

What you will bring to Fay:

• Bachelor's degree in Business or related field (or equivalent combination of years of experience with High School diploma/ GED) required
• 5+ years' experience in Default Servicing Management roles required
• 5+ years' experience in mortgage servicing
• 3+ years' leadership experience in leadership required
• Proven track record in training, coaching, and developing people
• Previous experience successfully leading people/ teams in a fast-paced work environment
• Prior experience successfully leading servicing-related projects and initiatives with cross-functional teams
• Analytical skills to distribute and allocate resources
• Strong customer service skills
• Strong fiscal and technical aptitude
• Strong operational orientation
• Working knowledge of Microsoft Office products (Excel, Word, and Power Point)
• Strong leadership with proven ability to foster an environment of positive employee engagement and trust
• Demonstrated ability to establish credibility; coupled with recognizing and supporting the organization's culture, values, and priorities
• Proven ability to coach, train, and develop people managers, as well as staff
• Strong verbal and written communication skills with the ability to effectively interact with all levels across the organization
• Ability to effectively present to and facilitate discussions with executive leadership
• Strong interpersonal skills with the ability to develop and maintain effective relationships across the organization to influence and drive required results
• Strong analytical skills and business acumen
• Strong problem-solving abilities; ability to analyze and interpret data to identify opportunities and propose well-developed solutions
• Strong decision-making abilities coupled with sound judgment
• Effective at managing multiple priorities under tight deadlines in a fast-paced, dynamic environment
• Ability to prioritize, and organize time and resources to consistently bring projects to successful completion
• Client-focused with strong execution skills and results orientation; able to link to business needs with tactical execution and results
• Strong attention to detail; strong compliance orientation
• Ability to manage and lead change; high learning agility with the ability to connect multiple variables to identify opportunities and solutions
• Effective management skills include talent selection, training, coaching, mentorship, and performance management
• Collaborative work style; team orientation
• Strong compliance orientation
• Self-directed; comfortable working with ambiguity and uncertainty
• Strong project management skills with the ability to effectively lead matrix teams
• Professional maturity, integrity, ability to maintain confidential data and information

Diversity, Equity, and Inclusion are deeply embedded into our way of working at Fay. We believe that the best ideas come from having a team that is diverse in backgrounds, experiences, and perspectives. We strive to ensure each of our employees feels valued, respected, and included and is presented with equal opportunities to be successful here at Fay. We are proud to be an equal opportunity workplace. The Fay Group and affiliated companies participate in E-Verify. For more information go to www.dhs.gov/E-Verify. E-Verify is a registered trademark of the U.S. Department of Homeland Security.