Mortgage Default Oversight Manager
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Job Location:
Chicago, IL - USA
Monthly Salary:
Not Disclosed
Posted on:
3 hours ago
Vacancies:
1 Vacancy
Job Summary
Location: Chicago IL (Hybrid)
Employment Type: Full-Time
A financial services organization is seeking a Mortgage Default Oversight Manager to oversee default management and loss mitigation governance across a portfolio of mortgage assets.
This role is responsible for monitoring mortgage delinquency performance establishing default servicing standards and coordinating with servicing partners vendors and investors to ensure consistent and compliant servicing outcomes. The position provides portfolio-level oversight of loss mitigation strategies foreclosure activity and claims management while supporting risk management and operational improvements.
The ideal candidate has deep experience in mortgage servicing and default operations along with strong analytical governance and stakeholder management capabilities.
Key Responsibilities Default Oversight & Portfolio Governance-
Oversee the full mortgage delinquency lifecycle including early-stage delinquency loss mitigation foreclosure REO and final resolution.
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Establish and maintain default servicing standards and escalation procedures.
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Monitor servicing partner performance and ensure adherence to program requirements and servicing guidelines.
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Provide portfolio-level oversight to ensure consistent outcomes regulatory compliance and operational effectiveness.
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Develop and maintain loss mitigation frameworks including modification strategies repayment options and eligibility guidelines.
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Implement standardized decision frameworks and escalation paths for loss mitigation activities.
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Evaluate portfolio performance metrics including cure rates redefault trends and loss severity.
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Oversee processes related to default-related claims submitted to investors or counterparties.
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Establish documentation standards and internal controls for claims management.
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Investigate claim exceptions and coordinate issue resolution across servicing partners and vendors.
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Monitor foreclosure timelines and servicing performance.
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Oversee real estate owned (REO) processes and property disposition readiness.
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Ensure default servicing activities align with investor requirements and servicing standards.
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Lead and mentor team members responsible for portfolio oversight and default governance.
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Serve as a key liaison with servicing partners vendors and internal stakeholders.
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Coordinate with analytics risk and operations teams to improve portfolio oversight and decision-making.
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Identify emerging risks within the mortgage servicing portfolio.
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Use data analysis to identify performance gaps and improvement opportunities.
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Support audits internal reviews and regulatory examinations related to servicing and default governance.
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Recommend process improvements and operational enhancements to improve scalability and efficiency.
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Bachelors degree in Business Finance Accounting Real Estate or a related field or equivalent experience
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7 years of mortgage servicing experience including exposure to:
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Default operations
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Loss mitigation programs
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Foreclosure and REO processes
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Claims management
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1 3 years of leadership experience overseeing teams or major operational processes
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Strong understanding of mortgage servicing practices and default lifecycle management
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Experience designing or governing loss mitigation strategies and decision frameworks
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Familiarity with investor servicing guidelines and mortgage servicing standards
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Strong analytical and risk assessment capabilities
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Experience evaluating portfolio performance and servicing trends
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Ability to translate regulatory and servicing requirements into scalable operational frameworks
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Strong stakeholder management and communication skills
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Ability to manage performance through oversight and governance rather than direct execution
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Strong organizational and problem-solving abilities
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Ability to manage multiple initiatives simultaneously
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Experience supporting audit and compliance processes is beneficial
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Key Skills
- Loan Origination
- Sales Experience
- Microsoft Office
- Financial Services
- Customer Service
- Organizational skills
- Communication skills
- Military Experience
- Fair Housing Regulations
- Inside Sales
- Outside Sales
- Word Processing
