LYNETTE RICHTER
Luling,TX
Summary
With over 35 years of management and technical expertise in the mortgage servicing industry, this candidate brings a wealth of experience to the table. Throughout their career, they have successfully led and supervised large teams within mortgage companies and consulting firms. Their technical background is specifically tailored to the mortgage lending profession, encompassing extensive knowledge in mortgage servicing, default servicing, and a deep understanding of HUD/FHA, VA, USDA, Fannie Mae, Freddie Mac, and Private Mortgage Investor policies and procedures.
Overview
19
19
years of professional experience
Work History
Sr. Vice President – CMAX Claims Technology and CMAX Claims Group
A360inc
01.2020 - Current
- Oversight, direction, leadership, and vision for CMAX Technology and CMAX Claims Group
- Ensure compliance with all State, Federal, Regulatory, and Investor requirements and guidelines
- Ensures client satisfaction is maintained and oversee the day-to-day operations
- Leads and conducts all client partnership meetings
- Responsible for defining CMAX application requirements based on regulation requirements
- Work closely with executive leadership
- Manage the receipt, delegation and successful completion of all client requests
- Deliver, meet, and exceed customer, operational and business objectives
- Act as Senior escalation point of contact for internal and external contacts to ensure a positive outcome for the business
- Develop, review and maintain client SOWs including early red lines and ensuring the delivery of changes to all appropriate departments occurs
- In partnership with IT, identifies system defects, improvements and enhancements to managed processes in an effort to increase efficiency and manage costs, conducting testing of system
- Identify areas of opportunity with clients as well as improvements to systemic application, reporting and cadences in order to strengthen the technology and partnership
- Primary resource to ensure policies and procedures are developed, implemented and compliant
- Provide onsite technical assistance to lenders during HUD (Housing and Urban Development) Audits
- Performance of gap analysis of processes within clients claims departments
- Work closely with clients Quality Control Department to ensure compliance with Investor/Insurer guidelines
Vice President – Foreclosure Claims
DIMONT AND ASSOCIATES
08.2017 - 01.2020
- Oversight, direction, and leadership, of claim filing to staff members
- Ensure compliance with all State, Federal, Regulatory, and Investor requirements and guidelines
- Ensure client satisfaction is maintained and oversee the day-to-day operations
- Ensure timely, accurate, compliant claim filing for FHA, VA, USDA, Fannie Mae, Freddie Mac, and MI Claims
- Senior escalation point of contact for internal and external clients to ensure a positive outcome for the business
- Responsible for development and maintenance of capacity plans to ensure client needs are met
- Management of ensuring loss analysis is performed so that all available funds are recouped as appropriate and losses are minimized
- Performance of in-depth loss analysis reviews for clients to identify potential recovery and/or total loss
Manager, Foreclosure Claims, Property Preservation, Eviction, and Loss Analysis
Bank of Oklahoma Mortgage
05.2014 - 07.2017
- Oversight, direction, leadership, and vision for Claims, Property Preservation, Eviction, and Loss Analysis
- Ensure compliance with all State, Federal, Regulatory, and Investor requirements and guidelines
- Provide oversight of all applicable vendors and third parties pertaining to the department such as outsourced property inspections and preservation maintenance services
- Ensure timely, accurate, and compliant evictions, conveyances, and filing of claims for FHA, VA, USDA, FHLB, Fannie Mae, Freddie Mac, and MI claims
- Responsible for all charge offs of BOK portfolio loans that include managing timely transfers to REO classification
- Ensuring compliance with all applicable laws and regulations, internal bank policies, and investor requirements; effectively reducing risk and applying operational best practice
- Defines business requirements, manages plans, organizes, and controls related projects, this includes managing the technology, processes, and people needed to successfully perform these default functions
- Develops and promotes team environment with all Servicing and Default departments
- Serves as primary resource for ensuring policy and procedure changes are developed, implemented, and enforced across the Default area by utilizing risk identifiers such as internal/external audit findings for quality and compliance, KPI trends and investor scorecards
- Work closely with Servicing Manager and Default Manager and all Servicing leadership to ensure thorough understanding, business impact and best practices of any regulatory changes and/or audit findings
Manager, Default Consulting
Claims Recovery Financial Services (CRFS)
04.2011 - 05.2014
- Manage the CRFS consulting group as well as on-site client consultants
- I am keenly focused on educating, training and informing clients on various HUD default directives as well as providing recommendations and assistance to clients in the areas of time-line management, performance-based reimbursement structures and ways to reduce costs for investors, insurers and services
- Provide technical assistance to ensure compliance with Housing and Urban Development (HUD) policies and procedures
- Leads a team of staff that perform mock audits to detect potential monetary penalties and losses, provide analysis and recommendations to reduce further losses and monetary penalties, which might occur during a HUD audit
- Provide consulting and technical advisory service for mortgage banking clients with Federal Housing Administration (FHA) loan portfolios, Veterans Administration (VA) loan portfolios, and Conventional (FNMA, FREDDIE MAC, and Private Investor) loan portfolios
- Technical assistance provided to ensure compliance with Government and Investor requirements for servicing loan portfolios
Director of Quality Assurance
Lyons McCloskey, LLC
05.2006 - 04.2011
- Managed the oversight and conducting of nationwide reviews of Freddie Mac Designated Counsel firms that provide foreclosure, bankruptcy, loss mitigation, eviction and closing services for Freddie Mac
- Directed quality assurance teams, shortened validation turnaround times and reduced customer complaints.
- Authored documentation for internal use by QA personnel, setting guidelines for review activities and reporting requirements.
- The reviews consist of evaluating the Designated Counsel accounting methodology, data integrity, compliance of policies and procedures as pertaining to Freddie Mac contractual requirements
- Established and oversaw company-wide Quality Management System (QMS), maintaining compliance with [Area of certification] and enhancing internal outcomes.
- Provide Freddie Mac with review reports on the review results, consisting of findings, observations and recommendations of the law firms that quantify noncompliance and identify potential program enhancements
- Oversaw QA operational activities such as sampling, inspection and line monitoring, verifying compliance with prescribed fault rates and tolerance goals.
- Provide consulting and technical advisory service for mortgage banking clients with Federal Housing Administration (FHA) loan portfolios, Veterans Administration (VA) loan portfolios, and Conventional (FNMA, FREDDIE MAC, and Private Investor) loan portfolios
- Drafted internal QA policies on factors such as design controls, product realization activities, validation techniques and more.
- Technical assistance provided to ensure compliance with Government and Investor requirements for servicing loan portfolios
- Managed vendor relationships to ensure adherence to quality standards in outsourced projects.
- Additional responsibilities include on-site management of projects for mortgage banking clients involving risk assessment, assuring timelines are met, as well as assurance of Investor and/or Government requirements
- Enhanced product quality by implementing comprehensive quality assurance processes and procedures.
- Streamlined quality assurance documentation, ensuring accuracy and compliance with industry standards.
- Improved customer satisfaction ratings by addressing reported issues promptly and effectively.
- Designed test plans and strategies for thorough validation of product functionalities before release.
- Implemented training programs to enhance the skillset of the Quality Assurance team members.
- Developed and executed successful quality audits for continuous process improvement and risk mitigation.
- Reduced production defects by identifying root causes and implementing corrective actions.
- Conducted periodic performance reviews for team members, providing constructive feedback for professional growth.
- Coordinated product releases by collaborating closely with project managers to meet deadlines without compromising on quality standards.
- Achieved cost reduction through efficient resource allocation and optimization of QA processes.
- Interfaced directly with high-level executives within client companies, addressing concerns and correcting perceived faults to maintain smooth customer relationships.
- Optimized test coverage through effective prioritization based on project scope, complexity, and timelines.
- Spearheaded the implementation of automated testing tools for improved efficiency in defect detection.
- Led a team of QA professionals, fostering a culture of continuous improvement and excellence.
- Collaborated with cross-functional teams to establish quality metrics for product performance evaluation.
- Oversaw regulatory compliance initiatives, maintaining up-to-date knowledge on relevant industry guidelines and requirements.
- Established robust communication channels between QA, development, and management teams for timely issue resolution.
- Established and tracked quality department goals and objectives.
- Monitored staff organization and suggested improvements to daily functionality.
- Tracked quality issues with external customers, suppliers, and internal operations.
- Applied coaching techniques and tools to support managers and team members in improving performance.
- Recorded, analyzed, and distributed statistical information.
- Determined quality department standards, practices, and procedures.
- Collaborated with audit clients and action owners to apply root cause analysis guidance and establish effective corrective action plans.
- Scheduled and chaired quality review meetings to review effectiveness of performance mitigating risk, improving throughput and achieving customer satisfaction.
Skills
- Problem solving
- Analytical skills
- Multi-tasking
- Interpersonal skills
- Communication skills
- Written communication
- Verbal communication
- Ability to work under deadlines
- Collaboration with technology engineers
- Management of claim filing
- Oversight of applications
- HUD Auditing
- Freddie Mac Audits
- Training
- Consulting
- Technical advisory services
- Due diligence audits
- Quality control
- Management of guidelines
- Recommendations
- Assistance in time line management
- Performance-based reimbursement structures
- Cost reduction
- Computer skills
- LPS
- MSP
- Sagent
- LSAMS
- CMAX
- Cloud Claims
- Proven Claims
- Microsoft Office Platforms
- Strategic leadership
- Team leadership
- Time management
- Document review
- Property Preservation Understanding
- Fair housing regulations
- Management reporting
- Loan servicing
- Auditing expertise
- Policies and procedures
- Relationship building
- Staff training and development
- Asset management
- Property preservation strategies
- Documentation review
- Operational efficiency
- Quality control tools
- Operational excellence
- Decision-making
- Task delegation
- Portfolio management
- Foreclosed property preservation
- Court proceedings
- Balance sheet analysis
- Customer focus
- Critical thinking
- Cross-functional teamwork
- Assertiveness
- Quality management
- Coaching and mentoring
- Project planning
- Process improvements
- Complex Problem-solving
- Customer relationship management (CRM)
- Loss mitigation
- Regulatory reporting
- ISO standards
- Organizational development
- Results-driven
- Performance management
- Corrective action planning
- Decision support
- Asset recovery
- Staff development
- Account management
- Mortgage servicing
- Industry-specific regulations
- Policy implementation
- Foreclosure processing
- Effective multitasking
- Risk management
- Default servicing
- Quality assurance methodologies
Timeline
Sr. Vice President – CMAX Claims Technology and CMAX Claims Group
A360inc
01.2020 - Current
Vice President – Foreclosure Claims
DIMONT AND ASSOCIATES
08.2017 - 01.2020
Manager, Foreclosure Claims, Property Preservation, Eviction, and Loss Analysis
Bank of Oklahoma Mortgage
05.2014 - 07.2017
Manager, Default Consulting
Claims Recovery Financial Services (CRFS)
04.2011 - 05.2014
Director of Quality Assurance
Lyons McCloskey, LLC
05.2006 - 04.2011
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