Foreclosure & Default Resolution Manager

We’re Canvas Credit Union

We’re passionate about transforming financial services. Our members, families, and the communities we call home motivate everything we do. As part of the credit union movement, we believe in providing our members with education, support, and guidance to build strong financial futures.

Canvas "It's About More" Video - YouTube (Click here - or, visit https://www.youtube.com/watch?v=z8WAm_TDRdk )

Why Canvas?

At Canvas, we’re dedicated to transforming financial services from the inside out. Our culture is a top priority and second to none. We strive to balance hard work and high achievement with a fun, supportive environment.

At Canvas, there are 5 behaviors we live by each day that will continue to help us be known for our heart and our people:

What you'll do

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.

Foreclosure & Default Operations

• 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.

Investor & Regulatory Compliance

• 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.

Vendor & Legal Oversight

• 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.

Default Strategy & Loss Mitigation Alignment

• 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.

Reporting & Performance Management

• 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.

Team Leadership & Development

• 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.

Job Qualifications

Knowledge, Skill and Ability:

• 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)

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.

For Current Canvas Employees: To be considered, you must be meeting performance expectations, consistently demonstrating HEART behaviors, and must submit an up-to-date resume or update your Work History profile with your current responsibilities and accomplishments.

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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