Foreclosure & Default Resolution Manager

Canvas Credit Union•Lone Tree, CO

10h•$79,037 - $98,791•Hybrid

About The Position

The Foreclosure & Default Resolution Manager is responsible for leading the execution of foreclosure activities and late-stage default servicing strategies across the mortgage portfolio. This role ensures compliant, timely, and member-focused resolution of non-performing loans while aligning with investor guidelines, including Fannie Mae requirements, and all applicable federal, state, and regulatory standards. The position balances operational excellence, risk mitigation, and member experience by driving effective foreclosure management, vendor oversight, and default resolution strategies that minimize losses and preserve home retention opportunities when possible.

Requirements

Regulatory & investor compliance expertise
Default servicing strategy and execution.
Vendor and legal partner management
Data analysis and performance reporting
Risk management and decision-making.
Leadership, coaching, and team development
Member-centric problem solving and communication.
Strong understanding of collections processes, workflows and systems.
Responsible for all management functions including hiring, training, conducting monthly one-on-ones, performance management, scheduling, cross-training and succession planning, timekeeping, etc.
Exhibit support for the organization’s goals, values, initiatives and cost control.
Comply with the Bank Secrecy Act (BSA) and other compliance requests and requirements.
Follow all safety and security guidelines to properly safeguard member and organization assets.
Embrace ongoing education and learn/apply new skills and software applications.
Excellent verbal, written and interpersonal communication skills.
Strong relationship building and teamwork skills with ability to develop and maintain consultative and cooperative relationships with Canvas staff and external vendors/partners.
Proven ability to recommend and champion changes to processes, procedures, workflows and systems.
Proven ability to develop project plans, coordinate and complete projects on time and within budget.
Strong analytical, decision making and problem-solving skills.
Strong attention to detail and excellent organizational and time management skills with ability to manage multiple priorities with demanding deadlines.
Ability to understand and analyze multiple data sources to create actionable reporting for various end users.
Advanced skills in Excel and ease with data management.
Ability to maintain confidences.
Regular attendance and punctuality are essential functions of the job.
Perform other job duties as assigned.
Pre-employment background review (components include criminal, employment, address, social security number, motor vehicle record, global sanctions, and sex offender)
Three to five years of supervisory/managerial experience in collections, lending and/or compliance.

Nice To Haves

5–8+ years of mortgage servicing experience, with a focus on foreclosure and default management
Strong working knowledge of Fannie Mae Servicing Guidelines and default timelines
Experience managing foreclosure processes in judicial and non-judicial states.
Demonstrated leadership experience in a servicing or collections environment.
Familiarity with FHA, VA, USDA, and private investor requirements
Knowledge of bankruptcy, REO, and property preservation processes
Experience with servicing systems (e.g., FICS or equivalent platforms)

Responsibilities

Oversee all stages of foreclosure, including referral, timeline management, sale, and post-sale activities.
Ensure adherence to investor requirements (Fannie Mae, FHA, VA, etc.) and state-specific foreclosure laws.
Monitor and manage foreclosure timelines, milestones, and exception tracking.
Lead escalation resolution for complex or high-risk default cases.
Evaluate current credit bureau reports, O&E (Ownership and Encumbrance) reports, and other lender foreclosure notices and other pertinent property encumbrances and issues as needed.
Coordinate current property valuations, or appraisals as needed for effective property value review.
Conduct ongoing analysis of solutions provided to members with a specific strategy devised toward meeting objectives.
Responsible for the negotiations, analysis and approval of loan modification arrangements on all consumer loans.
Management of Canvas’s REO (Real Estate Owned) portfolio.
Responsible for foreclosure management for Fannie Mae and portfolio mortgage loans.
Manage Short Sale Administration on Fannie Mae and portfolio mortgage loans.
Responsible for Fannie Mae workout loan file preparation, management and tracking.
Ensure full compliance with Fannie Mae Servicing Guidelines and other agency/investor requirements.
Maintain controls aligned with CFPB, NCUA, and state regulatory expectations.
Oversee foreclosure audits, quality control reviews, and compliance reporting.
Partner with compliance and legal teams to address regulatory changes and implement process updates.
Manage foreclosure attorneys, trustees, and vendor partners to ensure performance, quality, and compliance.
Establish and monitor KPIs, SLAs, and scorecards for third-party providers.
Review legal actions, pleadings, and foreclosure documentation for accuracy and completeness.
Control foreclosure-related expenses and ensure cost efficiency.
Collaborate with Loss Mitigation leadership to ensure appropriate borrower outreach and home retention efforts prior to foreclosure.
Support decisioning frameworks for foreclosure referral, postponement, or alternative resolution strategies.
Drive strategies to reduce foreclosure starts, timeline delays, and loss severity.
Develop and report on key performance indicators, including: Foreclosure cycle times, Liquidation timelines, Roll rates and resolution outcomes., Loss severity and recovery metrics
Provide executive-level reporting and insights to senior leadership
Prepare files and analysis for presentation to the Special Assets and Real Estate Committee review.
Analyze and arrange complex payment arrangements, modifications and extensions as approved by the Special Assets and Real Estate Committee.
Lead, coach, and develop a team responsible for foreclosure processing and default execution.
Establish clear performance expectations and accountability standards.
Drive a culture aligned with member-centric values (e.g., empathy, accountability, and resolution focus)
Support cross-training and succession planning.