Bank of AmericaOperations, Process optimization, Loss Mitigation strategy
Jan. 2008 - Jan. 2010United StatesEstablished and ran Loss Mitigation department operations in midst of 2008 housing crisis. In close coordination with FNMA, FHLMC, and FHA investors, I established and lead a high-performing team. I oversaw the production and management of 145 associates, focusing on Short Sale transactions and ensuring efficient operations in all aspects of Loss Mitigation, Closing, Post Closing, and financial functions. Leadership and Team Management:
Build and establish the Loss Mitigation department, ensuring smooth operations and effective collaboration among team members.
Mentor, coach, and conduct performance evaluations to foster a culture of continuous improvement and professional development.
Foster a positive work environment that promotes teamwork, productivity, and employee engagement. Short Sale Production and Negotiations:
Provide oversight and guidance in all aspects of short sale negotiations, ensuring compliance with internal policies and external regulations.
Drive the production of over 3,000 short sale closings per month, optimizing efficiency and maintaining high-quality standards.
Collaborate with internal partners and servicers to develop and execute effective loss mitigation strategies aligned with borrowers' and investors' interests. Exceptional Performance:
Recognized as a recipient of the 2010 Talent Engagement Program for outstanding contributions and leadership within the Loss Mitigation department.
Operational Efficiency:
Achieved significant reduction in cycle times, with a 50% decrease in decision timelines.
Demonstrated an 80% pull-through rate from approval, streamlining processes and maximizing successful outcomes.