Foreclosure & Default Resolution Manager

Foreclosure & Default Resolution Manager

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.

Responsibilities include overseeing all stages of foreclosure, including referral, timeline management, sale, and post-sale activities; ensuring adherence to investor requirements and state-specific foreclosure laws; monitoring and managing foreclosure timelines, milestones, and exception tracking; leading escalation resolution for complex or high-risk default cases; evaluating credit bureau reports, ownership and encumbrance reports, and other lender foreclosure notices; coordinating current property valuations or appraisals as needed for effective property value review; conducting ongoing analysis of solutions provided to members with a specific strategy devised toward meeting objectives; managing loan modification arrangements; managing Canvas's REO portfolio; managing foreclosure management for Fannie Mae and portfolio mortgage loans; managing short sale administration on Fannie Mae and portfolio mortgage loans; preparing, managing, and tracking Fannie Mae workout loan files; ensuring full compliance with Fannie Mae Servicing Guidelines and other agency/investor requirements; maintaining controls aligned with CFPB, NCUA, and state regulatory expectations; overseeing foreclosure audits, quality control reviews, and compliance reporting; partnering with compliance and legal teams to address regulatory changes and implement process updates; managing foreclosure attorneys, trustees, and vendor partners to ensure performance, quality, and compliance; establishing and monitoring KPIs, SLAs, and scorecards for third-party providers; reviewing legal actions, pleadings, and foreclosure documentation for accuracy and completeness; controlling foreclosure-related expenses and ensuring cost efficiency; collaborating with Loss Mitigation leadership to ensure appropriate borrower outreach and home retention efforts prior to foreclosure; supporting decisioning frameworks for foreclosure referral, postponement, or alternative resolution strategies; driving strategies to reduce foreclosure starts, timeline delays, and loss severity; developing and reporting on key performance indicators, including foreclosure cycle times, liquidation timelines, roll rates and resolution outcomes, loss severity and recovery metrics; providing executive-level reporting and insights to senior leadership; preparing files and analysis for presentation to the Special Assets and Real Estate Committee review; analyzing and arranging complex payment arrangements, modifications, and extensions as approved by the Special Assets and Real Estate Committee; leading, coaching, and developing a team responsible for foreclosure processing and default execution; establishing clear performance expectations and accountability standards; driving a culture aligned with member-centric values; supporting cross-training and succession planning.

Job qualifications include regulatory and 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; management functions including hiring, training, conducting monthly one-on-ones, performance management, scheduling, cross-training, and succession planning, timekeeping, etc.; support for the organization's goals, values, initiatives, and cost control; compliance with the Bank Secrecy Act and other compliance requests and requirements; following all safety and security guidelines to properly safeguard member and organization assets; ongoing education and learning/applying 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).

Experience: Three to five years of supervisory/managerial experience in collections, lending, and/or compliance. Preferred experience: 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). Education or formal training: High school diploma or GED. Two-year college degree in business, finance, or related field (or equivalent experience) preferred.

The starting pay range for this position is $79,037.42-$98,790.64/annual, and final pay rate will be determined based on experience, education, skills, and internal equity factors. Canvas benefits include: medical/dental/vision insurance, paid vacation, paid sick time, paid holidays, paid wellness day, paid volunteer time, flexible spending account, health savings account, world class 401(k) plan, tuition reimbursement, rate discounts on qualifying loans, may be eligible for incentives or discretionary bonus based on results.

Working environment/physical activities: High volume, fast-paced, dynamic office environment with some travel. Must be able to attend meetings/events outside of regular business hours. The job routinely uses standard office equipment such as computers, phones, printers, copiers, fax machines, and filing cabinets. The position requires manual dexterity, the ability to lift files and open filing cabinets. The position requires bending, stooping, or standing as necessary.

NMLS: This role at Canvas requires Nationwide Multistate Licensing System (NMLS) registration under the S.A.F.E. Act of 2008. This means we conduct background checks to ensure NMLS registration and Canvas requirements are met. Not meeting or staying current may result in removal from role. Canvas also conducts pre-employment background reviews (components include criminal, employment, address, social security number, motor vehicle record, sex offender, and global sanctions).

Other duties: Please note this job description is not designed to cover or contain a comprehensive listing of activities, duties, or responsibilities that are required of the employee for this job. Duties, responsibilities, and activities may change at any time with or without notice.

Applications for this position will be accepted through July 7, 2026. For consideration, applications must be received by 11:59 PM MST on July 7, 2026.

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Equal Opportunity Employer/Protected Veterans/Individuals with Disabilities This employer is required to notify all applicants of their rights pursuant to federal employment laws. For further information, please review the Know Your Rights notice from the Department of Labor.