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Director, Loss Recovery

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The Director, Loss Recovery will be responsible for the day-to-day activities related to defaulted loan loss analysis and recovery of bill-backs through claims to vendors, prior servicer and originators.  The Director will be responsible for ensuring all transferred loans into the Company comply with investor and insurer requirements and recover losses when applicable.  The Director will provide detailed loss analysis and recovery reporting on a daily/weekly/monthly basis.  The Director, Loss Recovery will be responsible for reducing risk and loss severity by identifying and communicating areas of improvements within the lines of business.  

Must have Loss Recovery experience

Essential Job Functions may include:
  • Ensure timely and accurate loss recovery reviews on defaulted loans are conducted based on contract parameters
  • Act as a second level review on FHA/VA/USDA loss analysis and recovery 
  • Conduct monthly loss analysis functions on GSE portfolio
  • Responsible for ensuring compliance with directives, both verbal and electronic, from regulatory agencies, CFPB, GSE’s, investors and insurers for defaulted loans
  • Keeps abreast of default servicing industry trends, challenges and best practices and serves as subject matter expert to make recommendations to operations managers 
  • Assist in identification of business drivers and trends as well as development and execution of strategic plans to address trends in losses
  • Create resolutions which will enable Freedom Mortgage to reduce risk and losses
  • Work with internal legal to determine bill back protocols
  • Develop constructive and cooperative working relationships with clients, vendors and internal employees and maintaining them over time
  • Maintain regular and punctual attendance. Comply with all company policies and procedures.

Other Related Duties:
  • Act as a point of contact/liaison, ensuring that all loss recovery submissions are acted upon internally and externally
  • Complete various projects as assigned by management 

Education & Certification Requirements

  • Bachelor’s Degree from a Four (4) year College or University. 
  • Ten (10) years of Mortgage Default Servicing Operations experience and seven (7) years supervisory/management experience required.
  • Have a combination of education and experience with knowledge of property claims, preservation, REO and analytics, strong compliance knowledge, knowledge of data analysis and improvement tools.