Role OverviewThe VP of Default Management will own high-stakes Non-QM, BPL and RTL workouts from first missed payment through final recovery. This role will cover fix-and-flip, bridge, and ground-up construction loans secured by 1-4 unit and small multifamily assets.
What You Will Do
The VP of Default Management will own a portfolio of delinquent, matured, and defaulted BPL/RTL loans through resolution, drive direct borrower contact, locate unresponsive sponsors, assess sponsor capacity, and recommend and execute various exit strategies.
Why It Might Be a Fit
The VP of Default Management will work in a professional but fun, casual work environment with a great team culture, and will receive competitive compensation and a full benefits package, including medical, dental, and vision insurance, 401K with company matching, and 17 days PTO and 9 company paid holidays.
Requirements
- 5+ years in default servicing, loss mitigation, special assets, collections, or workout with direct borrower negotiation
- BPL, RTL, bridge, fix-and-flip, construction, or commercial real estate lending experience; RTL preferred
- Practical command of foreclosure, bankruptcy, deed in lieu, receivership, and REO strategy
- Ability to read notes, guarantees, title, rehab budgets, draw schedules, BPOs, and inspection reports and spot risk fast
- Strong Excel and recovery analytics; able to compare exits by dollars, timing, and execution risk
- Servicing system experience such as MSP, LoanServ, or Sagent, with investor-audit-ready notes
- High school diploma required; bachelor degree preferred or equivalent workout experience
Benefits
- Competitive compensation
- Full benefits package include medical, dental, and vision insurance
- 100% company-paid life insurance and disability coverage
- 401K with company matching
- 17 days PTO (increases with tenure) and 9 company paid holidays
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