Robert Feinberg
Calabasas,USA
Summary
Seasoned Financial Services Executive with extensive expertise in Default Loss Mitigation and risk analysis. Adept at developing staff and implementing policies that ensure regulatory compliance while effectively managing defaulted loan portfolios to minimize losses.
Overview
30
30
years of professional experience
1
1
Certification
Work History
Vice President, Mortgage Default Servicing
Cathay Bank
El Monte, CA
07.2022 - Current
- Created the Loss Mitigation Department, set up the Temenos Collection platform, developed all correspondence, established all Loss Mitigation assistance programs, crafted all policies and procedures, designed all desktop procedures, and integrated the CXone call center phone system.
- Managed portfolio of defaulted loans, including Bank’s portfolio, investor loans, and subserviced loans, to minimize loss and expense exposure while ensuring compliance with Bank/investor guidelines.
- Developed staff and evaluated loss mitigation team to ensure adherence to Bank’s policies, procedures, guidelines, and regulatory requirements for delinquencies, defaults, collections, and loan workouts.
- Manages staff performance, workload volume to ensure proper coverage, writes performance evaluations, and provides recommendations for merit increases, promotions, and disciplinary actions.
- Handled escalated calls from delinquent borrowers, implementing loss mitigation workout options in compliance with applicable laws and regulations. Approved and ensured implementation of specific loss mitigation workout proposals.
- Manages projects that meet regulatory compliance to accommodate investor and/or Bank’s changes and updates. Writes and executes all policies, procedures, and techniques related to loss mitigation.
- Completed risk rating reviews of substandard loans and provided non-accrual recommendations to Credit Administration for regulatory purposes.
Loss Mitigation Lead
Washington State Employees Credit Union
Olympia, WA
01.2018 - 07.2022
- Lead loss mitigation staff with oversight of call center collection activities and metrics; all Loss Mitigation options, ongoing training, and updates from management.
- Provided oversight and solutions for all loss mitigation activities, including Repayment Agreements, Short Sales, Deed in Lieu of Foreclosure, Loan Modifications, and Forbearance.
- Managed bankruptcy process, foreclosures, REO, and potential loss reporting, ensuring compliance with delinquency reporting and charge-off requirements.
- Manage and oversee the disposition of WSECU real estate assets by analyzing any expected acquisition expense, and compare to the total anticipated charge off or gain on sale, as well as forecast marketing time.
- Developed reports and analytics for government and state agencies, including Call Reports, CAR Reports, FNMA/FHLMC delinquency reporting, PMI delinquency reporting, and vendor management, facilitating communication with trustee and attorney.
Senior Loss Mitigation Officer
Washington State Employees Credit Union
Olympia, WA
11.2016 - 01.2018
- Screened members for loss mitigation options by reviewing assets and liabilities, ensuring compliance with credit union, investor, and regulatory requirements.
- Managed all property preservation activities, including property inspections, BPOs, and AVMs.
- Developed and updated policies and procedures to ensure compliance with state and federal laws while monitoring foreclosures from start to finish.
- Process serious delinquent loan collections, manage all bankruptcy operations such as proof of claims, reaffirmations, motion from relief from stay, while interfacing with internal and external counsel.
- Compiled and delivered monthly, quarterly, and annual reports to stakeholders, government investors, third party vendors, management, and auditors.
Account Manager SPOC
Ditech Financial
Auburn, WA
03.2016 - 08.2016
- Thorough knowledge of the Company’s Standard Operating Procedures, loss mitigation options, as well as state and federal legal requirements (FDCPA & CFPB) with regard to collections procedures, bankruptcies, foreclosure, repayment plans, modifications, short sales, deed in lieu, loan recast, forbearance plans, and keeping abreast of current changing legislation.
- Counseled delinquent customers via inbound and outbound calls to negotiate payment terms and establish repayment solutions.
- Executed repayment plans, conducted escrow analysis of property taxes, performed reallocations, and audited payment history along with origination loan and loss mitigation documents in compliance with cease and desist regulations.
Contact Representative
Social Security Administration
Auburn, WA
09.2015 - 12.2015
- Interviewing callers to determine the nature of their interest or problems, eliciting relevant facts, explaining technical provisions, and answering their questions or resolving their problems.
- Researching, interpreting and correctly applying laws, regulations, and policies using a large number of manuals and paper guidelines as well as electronic systems.
- Develops and resolves discrepancies in earnings and determines amounts to be posted and/or removed from individual earning records.
- Develop simpler fraud issues on cases such as enumeration, misuse, auto-enroll fraud, and scrambled earning. Safeguards personally identifiable information from loss, theft or improper disclosure including inadvertent disclosure.
Senior Mortgage Compliance Consultant
AC Capital Advisors
Marina Del Rey, CA
11.2013 - 11.2014
- Monitored regulatory trends and best practices in compliance risk management, recommending enhancements to strengthen compliance framework.
- Analyzed and interpreted new laws, regulations, and guidance to assess potential impacts, disseminating updates to inform policy and procedure modifications.
- Conducted due diligence compliance reviews on performing and non-performing assets to ensure adherence to regulatory guidelines, delivering corrective action reports on audit findings.
Loan Review Analyst III Quality Assurance
Bank of America
Westlake Village, CA
07.2012 - 08.2013
- Reviewed and approved repurchase requests, ensuring compliance with quality standards.
- Responded to internal/external audits and inquiries, recommending actionable improvements based on review findings.
- Developed and articulated persuasive arguments while providing constructive feedback on deficiencies to enhance team understanding.
Asset Manager
Wells Fargo Bank
Thousand Oaks, CA
03.2012 - 07.2012
- Executed collection activities, including skip tracing to locate customers and managing complex trust loan assets, ensuring timely setup, maintenance, lien perfection, insurance, payoffs, and legal action for non-payment.
- Analyzed sensitive and problem loans, recommending effective workout and collection solutions.
- Reviewed fiduciary governing instruments to maintain compliance with government regulations, OFAC, and Bank Policies during ongoing Reg 9 reviews.
- Reviewed fiduciary governing instruments to maintain compliance with government regulations, OFAC, and Bank Policies during ongoing Reg 9 reviews.
Asset Management specialist
Federal Deposit Insurance Corporation
Irvine, CA
05.2009 - 01.2012
- Collaborated with senior officials and acquiring bank management to identify and resolve gaps in default processes, controls, and underwriting practices, providing expertise in loss mitigation programs under HAMP, FDIC loan modification, NPV, Foreclosure, and Bankruptcy.
- Manage cost effective resolution strategies and adherence to approved loan modification programs. Advise on loss mitigation scenarios and strategies for assets including loan restructures, charge-offs, liquidation and collection activities.
- Partnered with key individuals in Assuming Banks to address loan servicing and collection challenges, facilitating feedback and sharing best practices to enhance operational efficiency among stakeholders.
- Coordinate and conduct regular compliance visitations to ensure acquiring institution’s strict adherence to terms of the Shared- Loss Agreement.
- Prepare and present standard reports and corrective actions while effectively storing associated data in order to prepare data analysis to management and stakeholders.
- Oversaw management and technical guidance for 30 qualified contractors performing compliance audits.
- Assisted partners in conducting due diligence, compliance reviews, performance analysis, and data aggregation.
- Provide ongoing general oversight, surveillance and compliance monitoring.
- Conducted investigations and compiled reports for Congressional Inquiries from dissatisfied asset holders regarding fraudulent loan structure issues, presenting findings to the Office of Public Affairs in Washington DC.
Premier Client Manager Candidate
Bank of America
Encino, CA
11.2007 - 02.2008
- Managed relationships with premier clients while pursuing series 6 and 63 licenses.
- Reviewed and evaluated banking products and offerings for high-end clientele, providing tailored recommendations.
- Managed client relationships and addressed inquiries promptly.
- Developed tailored financial solutions for diverse client needs.
- Collaborated with cross-functional teams to enhance service delivery.
Quality Control Manager
Countrywide Bank
Westlake Village, CA
11.2005 - 11.2007
- Coordinated banking sales team of 10 Account Executives, managing process from referral to application to funding.
- Completed loan review and underwriting with Account Executives to ensure compliance with guidelines and suitability, supervising pipeline management and interfacing with operations.
- Developed quality control policies for banking operations and compliance standards.
- Led cross-departmental quality audits to ensure adherence to regulations.
- Trained staff on quality assurance processes and best practices in banking.
Call Center Team Leader/Sr Account Executive
Countrywide Credit Industries
Rosemead, CA
02.1998 - 11.2005
- Managed 22 Account Executives to utilize operating systems for origination, underwriting, and funding of residential loans.
- Directed daily goals of Account Executives as well as disseminating rate sheet updates and analysis.
- Established call monitoring metrics to ensure call excellence and compliance with quality standards.
- Trained staff on programs, features, and benefits to improve job knowledge and performance.
- Approved a variety of products through inbound and outbound calls and other communications portals via Internet through desktop underwriting as well as manual underwriting.
- Supervised complex escalated borrower complaints from Office of the President and Senior Council, delivering resolutions to mitigate reputational risk.
- Participated in the written development of scripts and policies and procedures.
Negotiator/Risk Mitigation
Countrywide Financial
Simi Valley, CA
01.1996 - 02.1998
- Negotiated short sales, modifications, repayment plans and workout assistance to mitigate loss for government investors for Conventional, Non-Conventional, FHA, VA, and GNMA assets.
- Coordinated and represented interests of Fannie Mae, Freddie Mac, and private investors in negotiations to align objectives and optimize outcomes.
- Oversaw and managed property preservation activities for all assets under management, ensuring compliance with industry standards.
- Implemented new programs and provided correlated training procedures from Fannie Mae and Freddie Mac.
Education
Business Administration -
California State University Northridge
Northridge, CASkills
- Default Servicing
- Loan Servicing
- Loss Mitigation
- Underwriting
- Bankruptcy
- Foreclosure
- Asset Resolution Strategies
- Risk Mitigation & Analysis
- TILA compliance
- RESPA compliance
- ECOA compliance
- HMDA compliance
- CRA compliance
- FCRA compliance
- FDCPA compliance
- BSA compliance
- OFAC compliance
- Patriot Act
- Dodd-Frank
- AML
- CFPB
- Quality Assurance
- Symitar
- Temenos software
- FIS servicing
- Office software proficiency
- FIS servicing
Certification
CFE Certification, in progress, Association of Certified Fraud Examiners
Timeline
Vice President, Mortgage Default Servicing
Cathay Bank
07.2022 - Current
Loss Mitigation Lead
Washington State Employees Credit Union
01.2018 - 07.2022
Senior Loss Mitigation Officer
Washington State Employees Credit Union
11.2016 - 01.2018
Account Manager SPOC
Ditech Financial
03.2016 - 08.2016
Contact Representative
Social Security Administration
09.2015 - 12.2015
Senior Mortgage Compliance Consultant
AC Capital Advisors
11.2013 - 11.2014
Loan Review Analyst III Quality Assurance
Bank of America
07.2012 - 08.2013
Asset Manager
Wells Fargo Bank
03.2012 - 07.2012
Asset Management specialist
Federal Deposit Insurance Corporation
05.2009 - 01.2012
Premier Client Manager Candidate
Bank of America
11.2007 - 02.2008
Quality Control Manager
Countrywide Bank
11.2005 - 11.2007
Call Center Team Leader/Sr Account Executive
Countrywide Credit Industries
02.1998 - 11.2005
Negotiator/Risk Mitigation
Countrywide Financial
01.1996 - 02.1998
Business Administration -
California State University Northridge