Assistant Vice President (AVP) – Loss Mitigation

About this opportunity

The Assistant Vice President (AVP) of Loss Mitigation is responsible for the strategic leadership, operational oversight, regulatory compliance, and performance management of all loss mitigation activities within the mortgage servicing organization. This role oversees borrower assistance programs, loan modifications, repayment plans, partial claims, forbearance management, deed-in-lieu, short sales, and foreclosure prevention initiatives. The AVP ensures compliance with investor, insurer, and regulatory requirements while balancing borrower outcomes, portfolio performance, and organizational risk objectives.

The AVP partners closely with Default Servicing, Foreclosure, Bankruptcy, Compliance, Legal, Investor Reporting, Quality Control, and Subservicer Oversight teams to ensure effective execution of loss mitigation strategies and programs.

Key Responsibilities

Strategic Leadership

• Develop and execute the organization's loss mitigation strategy.

• Establish departmental goals, KPIs, and performance standards.

• Identify opportunities to improve borrower retention and reduce foreclosure activity.

• Lead initiatives to enhance operational efficiency, automation, and borrower experience.

• Provide executive reporting and recommendations regarding portfolio trends and loss mitigation performance.

• Participate in strategic planning related to servicing operations, default management, and regulatory changes.

Operational Management

• Direct all loss mitigation operations including:

  • Loan Modifications

  • Repayment Plans

  • Forbearance Programs

  • FHA Partial Claims

  • Deferral Programs

  • Short Sales

  • Deeds-in-Lieu

  • Foreclosure Alternatives

• Monitor production pipelines and workflow management.

• Ensure timely processing of borrower applications and documentation.

• Manage staffing models, capacity planning, and vendor relationships.

• Oversee service-level adherence and operational effectiveness.

Regulatory and Compliance Oversight

• Ensure compliance with:

  • CFPB Mortgage Servicing Rules

  • RESPA (Regulation X)

  • FDCPA

  • FHA/HUD Requirements

  • VA Servicing Requirements

  • USDA Rural Development Requirements

  • Fannie Mae Servicing Guide

  • Freddie Mac Seller/Servicer Guide

  • Ginnie Mae Requirements

  • State Servicing Regulations

• Partner with Compliance and Legal departments to implement regulatory changes.

• Support internal audits, external audits, investor reviews, and regulatory examinations.

• Ensure corrective action plans are developed and implemented for identified issues.

Investor and Agency Management

• Ensure adherence to investor-specific waterfall requirements.

• Oversee execution of FHA, VA, USDA, Fannie Mae, Freddie Mac, and Private Investor programs.

• Monitor claim filing timeliness and accuracy.

• Manage investor escalations and reporting obligations.

• Support portfolio-level risk management initiatives.

Risk Management and Quality Control

• Establish quality assurance and quality control programs.

• Monitor exception reporting and trend analysis.

• Implement corrective actions to mitigate operational and compliance risks.

• Review root cause analyses and operational deficiencies.

• Ensure adherence to internal controls and risk management frameworks.

Performance Management

• Establish and monitor departmental KPIs including:

  • Application Cycle Times

  • Modification Approval Rates

  • Foreclosure Prevention Rates

  • Borrower Contact Effectiveness

  • Call Quality Scores

  • Regulatory Compliance Metrics

  • Investor Compliance Metrics

• Prepare executive dashboards and management reporting.

• Lead employee development, succession planning, and performance evaluations.

Cross-Functional Collaboration

• Collaborate with:

  • Collections

  • Bankruptcy

  • Foreclosure

  • REO

  • Customer Service

  • Compliance

  • Legal

  • Risk Management

  • Investor Reporting

  • Finance

  • Subservicers

• Support servicing transfers and portfolio acquisitions.

• Participate in enterprise projects and system implementations.

Supervisory Responsibilities

• Directly manages managers, supervisors, and team leads within the Loss Mitigation department.

• Responsible for hiring, coaching, performance management, disciplinary actions, and employee development.

• Oversees departmental staffing and organizational structure.

Location and Schedule

• This is a full-time, office-based position in a modern, cozy environment in our Troy, MI office.

• Our standard working hours are Monday to Friday, 9:00 AM to 6:00 PM, promoting a healthy work-life balance.

Skills & Qualifications

Education

• Bachelor's Degree in Business Administration, Finance, Accounting, Economics, Risk Management, or related field.

• Master's Degree preferred.

Experience

• Minimum 5 years of mortgage servicing experience.

• Minimum 3 years of progressive leadership experience in Loss Mitigation or Default Servicing.

• Extensive knowledge of:

  • FHA Loss Mitigation

  • VA Servicing

  • USDA Servicing

  • Fannie Mae Servicing

  • Freddie Mac Servicing

  • Ginnie Mae Programs

  • Private Investor Programs

• Experience managing large operational teams.

• Experience interacting with regulators, auditors, investors, and executive leadership.

Knowledge, Skills, and Abilities

Technical Knowledge

• Mortgage servicing operations

• Default servicing processes

• Investor guidelines

• Mortgage servicing systems

• Regulatory compliance requirements

• Foreclosure prevention programs

• Portfolio analytics and reporting

Leadership Skills

• Strategic planning

• Team development

• Change management

• Executive communication

• Project management

• Decision making

Analytical Skills

• Data analysis

• Trend identification

• Operational forecasting

• Risk assessment

• KPI development and monitoring

Communication Skills

• Executive presentations

• Regulatory responses

• Investor communications

• Employee coaching and development

What We Offer | Career and Culture

• Company Culture: Inclusive, supportive company culture where you are not a number, but a voice that's heard and brings value.

• Growth Path: Defined paid training and clear pathways for career development.

• Benefits: Comprehensive benefits package including PTO, sick days, paid volunteer hours, medical, dental, vision insurance, and 401(k).

  Take the first step towards a rewarding career in the mortgage industry with AD Mortgage.

  Our Recruitment team will reach out to you shortly!

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We are an equal opportunity employer and value diversity at our company. We do not discriminate on the basis of race, religion, color, national origin, sexual orientation, age, marital status, veteran status, or disability status.

We will ensure that individuals with disabilities are provided reasonable accommodation to participate in the job application or interview process, to perform crucial job functions, and to receive other benefits and privileges of employment. Please contact us to request accommodation.