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Default Compliance Manager

City: Ewing
State/Territory: US-NJ


Who is Cenlar?


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Employee-owners have made Cenlar one of the nation’s largest mortgage subservicers. We have achieved success by empowering people with company ownership, real programs that provide avenues for advancement, and a great atmosphere that makes everyone look forward to the workday. Get your share of our success by considering the opportunity to join our team as a Default Compliance Manager.



  • Ensures timely and prudent review of all loans for foreclosure referral based on the timeline governed by the GSE, FHA, VA or client.  During this foreclosure review process, ensure that all due diligence requirements have been met based on state or investor/insurer requirements.
  • Ensures and facilitate all pre-foreclosure compliance letters such as demand notices and other regulatory notices required by state, investor, insurer and Client are issued timely and accurately. Ensures all letters are in compliance with State and Federal laws in addition to the applicable mortgage terms.
  • Working with the default managers and supervisors to ensure loans are reviewed by their area timely and borrower issues are addressed and corrected when applicable foreclosure deadlines are approaching.,
  • Publishes monthly reporting on all loans over 120+ days delinquent that are not in foreclosure and the statuses of the document requests needed for the referral review that remain outstanding. Identify pertinent trends when large populations of loans are not being referred within normal timelines. 
  • Ensures timely and prudent review of all loans for foreclosure referral starting at 90 days delinquent and immediately when they come out of a bankruptcy or loss mitigation status.
  • Reviews updates from investors, insurers and Clients to continue to stay abreast of the most recent conditions required for foreclosure.
  • Monitors accurate website reporting relative to demands and notices.
  • Work closely with Legal/Compliance and foreclosure attorneys on any state regulated changes as it relates to notices, demands, foreclosure review process and other state required initiatives.
  • Oversee the process of assigning all late stage loans out of a MERS status and into the Foreclosure Beneficiary; ensure vendor controls are in place to monitor their timelines to avoid unnecessary delays.
  • Ensure FHA loans are monitored closely and oversee the controls to confirm applicable HUD extensions are timely filed.
  • Manage state processes that require collection calls and/or letters as a condition precedent to foreclosure. 
  • Manages and ensures loans with a low principal balance are not placed in foreclosure without equity and/or charge off review.
  • Identifies opportunities to increase income and reduce expenses especially related to automating breach notices.
  • Manages income and expenses to meet department budget and goals set by Company.



  • 5+ years combined financial services, mortgage default servicing or mortgage banking experience
  • 3-5 years managerial experience.
  • College degree or equivalent work experience in default administration and/or compliance
  • Preferred legal background in mortgage default and/or compliance.
  • Strong communication, analytical, and mathematical skills.
  • Excellent organizational skills and attention to detail.
  • Default experience with compliance, regulatory authorities (OCC and CFPB most notably), FHA, VA, FNMA, FHLMC guidelines
  • LPS MSP experience (preferred)


Total Rewards:

Cenlar FSB offers outstanding benefits which may include paid medical/dental/life insurance, 401k, employee ownership, tuition assistance, a supportive work environment, and genuine opportunities for advancement. We are conveniently located off I-95 in Mercer County, New Jersey. Cenlar is a Drug Free Workplace and an Equal Employment Opportunity/Affirmative Action Employer -- M/F/D/V/SO.


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