Thomas Chad Scherr
Summary
Dynamic leader in loan servicing operations with a focus on optimizing efficiency and enhancing customer satisfaction. Proven capability in managing third-party vendor relationships and ensuring compliance across financial processes.
Overview
21
21
years of professional experience
Work History
SVP, Loan Servicing
National Mortgage Bankers
01.2023 - Current
- Manage, design, and run the interim loan servicing department, third-party vendors, subservicing operations, loss mitigation/collections, BK, quality assurance, research and mitigating risk on residential and HELOC loan products.
- Manage relationships with Fannie Mae, Freddie Mac, Ginnie Mae, Goldman Sachs on residential and investor relations, audits, compliance monitoring, MSR sales, certifying pools and reconciliation.
- Oversaw multiple third-party vendors, including tax and insurance companies, BPO/appraisal companies, and audit vendors to ensure compliance and performance standards.
- Administered servicing and collections budget for servicing team, aligning financial resources with operational goals.
- Coordinated loan servicing transfers between servicers, ensuring seamless transitions and minimal disruption to service.
- Perform monthly MERS reconciliation and annual audit.
- Work in conjunction with capital markets on MSR sales and repurchases.
VP, Loan Servicing
City National Bank
08.2026 - 01.2026
- Individually maintain the consumer loan portfolio and oversee the loan servicing department on residential and HELOC loan products.
- In addition to managing, directly overseeing subservicing operations, interim servicing operations, work with all departments to ensure business expectations, compliance and highest customer service metrics are met.
- Created and managed loan servicing reports for investor relations and corporate compliance, enhancing transparency and accountability.
- Ensured adherence to KPIs and SLAs, maintaining compliance with company and department guidelines.
- Assisted in transition of in-house servicing to sub-servicer, ensuring smooth operational handoff.
- Work with compliance on state audits, NMLS Quarterly reporting and quality assurance directives.
Loan Servicing Director
Axia Financial, LLC
10.2021 - 08.2025
- Led design and management of loan servicing department, overseeing third-party vendors, subservicing operations, loss mitigation/collections, BK, quality assurance, and risk mitigation for residential and HELOC loan products.
- Manage relationships with Fannie Mae, Freddie Mac, Ginnie Mae, Goldman Sachs on residential and commercial investor relations, audits, compliance monitoring, MSR sales, certifying pools and reconciliation.
- Manage multiple third-party vendors, including tax and insurance companies.
- Coordinated transfers of loan servicing between servicers, ensuring seamless transitions and maintaining service continuity.
- Provided interim servicing customer service via phone/chat/loan servicing inbox inquiries, generating payoffs and creating reconveyances, assumptions, and subordinations to enhance customer experience.
- Perform monthly MERS reconciliation and annual audit.
- Work in conjunction with capitol markets on MSR sales and repurchases.
VP, Loan Servicing
OneTrust Home Loans
06.2020 - 09.2021
- Led interim loan servicing department, construction loan team, subservicing operations, customer service, payoffs, loss mitigation, bankruptcy, collections, payments, and escrow operations to ensure seamless service delivery.
- Managed construction loan process, including draw requests, interest reserve payments, payoffs, and created construction to perm loan modifications to facilitate smooth project transitions.
- Board loans from our interim servicing platform to our servicer and perform quality control checks to ensure all boarding information is accurate.
- Collaborated with compliance and risk teams on state audits, NMLS quarterly call reporting, and investor reporting/accounting to ensure regulatory alignment.
Loan Servicing Director
Hamilton Group Funding
10.2018 - 11.2019
- Individually maintain the consumer loan portfolio and oversee the loan servicing department.
- Managed subservicing and interim servicing operations, collaborating with departments to meet business expectations, ensure compliance, and maintain high customer service metrics.
- Individually oversee the escrow accounts, payoffs, loan onboarding operations, collections, loss mitigation, lien releases, reconveyances, subordinations and investor reporting.
- Creating KPI measurements and ensuring SLAs with vendors are being met to company expectations.
- Complete the construction loan process, draw requests, interest reserve payments and payoffs.
- Reported to CFO on loan servicing operations, compliance with CFPB regulations, and quality control of sub-servicer operations.
- Created and managed loan servicing reports for investor relations, subservicing operations, and corporate compliance.
- Work with compliance on state audits, NMLS Quarterly reporting and quality assurance directives.
- Work with HUD on filing claims and monthly compliance updates on industry challenges.
VP, Loan Servicing
Live Well Financial
07.2015 - 10.2018
- Oversaw internal loan servicing team and subservicing operations, ensuring operational efficiency and compliance.
- Managed servicing and internal operations, including payment processing, reconveyances, loan onboarding, quality assurance, loss mitigation, lien releases, payoffs, escrow, and subordinations.
- Report directly to the CFO on all servicing operations, CFPB regulations and quality control/scorecards.
- Managed team of 6 direct reports to achieve monthly department goals and maintain compliance with consumer lending standards.
- Resolve escalated CFPB complaints with borrowers, attend litigated and deposition hearings with legal counsel to resolve disputes.
- Respond directly to escalated borrower complaints through our subservicer and the CFPB.
- Communicated directly with borrowers and loan officers to resolve loan issues and address payment processing and escrow inquiries.
- Create and update policy and procedures for loan servicing.
- Manage third party vendors and contractors, legal contracts.
- Oversee and individually monitor tax, insurance and repairs.
- Reconcile P&I accounts for Fannie Mae, Freddie Mac and Ginnie Mae investor relations.
VP, Servicing
Doral Bank
12.2013 - 07.2015
- Hired and trained loan servicing team, equipping staff with necessary resources for effective performance.
- Managed consumer loan portfolio, including residential and commercial loans, HELOCs, and subservicing operations, ensuring compliance and customer satisfaction.
- Speak directly with borrowers and loan officers/branch managers regarding customer service, payment processing, escrow questions, loss mitigation options, lien releases and prepare payoffs.
- Individually managed subservicer relationships and collaborated with contractors/builders on approvals and service level agreements.
- Manage third party vendors and approve vendor contracts, repair bids, and perform audits.
- Addressed CFPB complaints by investigating issues and providing timely resolutions.
- Ensure KPI and SLAs are met to expectations.
- Research issues within the mortgage and home equity line divisions to ensure resolution.
- Edit policy and procedures yearly and review annual statements for edits.
VP, Loan Servicing
The National Groups, LLC
10.2007 - 12.2013
- Maintained offshore servicer and internal consumer loan servicing teams, loss mitigation and call center operations, escrow and investor reporting to support overall service delivery.
- Develop policies and procedures for industry and company changes.
- Oversaw team of 5 direct reports, ensuring alignment with company goals and providing coaching for performance improvement.
- Support the credit operations/eOscar team to ensure that requests are responded in a timely fashion.
- Managed title claims, reconveyances, and lien releases to ensure compliance and timely resolution.
Loss Mitigation Manager
GMAC-ResCap
02.2005 - 10.2007
- Manage a distressed Loss Mitigation consumer loan portfolio that includes mortgages and home equity lines of credit.
- Evaluated and authorized short sales, loan modifications, DILs, short refinances, and workout plans to facilitate asset recovery.
- Consulted with members and analyzed financials to establish effective loss mitigation strategies, reducing bank losses.
- Managed third-party vendors, property preservation companies, and PMI insurance for timely approvals of invoices, contracts, and payments.
- Monitor and measure asset performance and make recommendations for value creation.
Education
Bachelor of Science - Finance
California State University, Sacramento
Sacramento, CA01-2004
Skills
- Mortgage Operations
- MSP Black Knight (ICE)
- Encompass
- Loan Sphere
- Equator
- LPS
- Salesforce
- SQL
- PowerBI
- Risk management
Timeline
VP, Loan Servicing
City National Bank
08.2026 - 01.2026
SVP, Loan Servicing
National Mortgage Bankers
01.2023 - Current
Loan Servicing Director
Axia Financial, LLC
10.2021 - 08.2025
VP, Loan Servicing
OneTrust Home Loans
06.2020 - 09.2021
Loan Servicing Director
Hamilton Group Funding
10.2018 - 11.2019
VP, Loan Servicing
Live Well Financial
07.2015 - 10.2018
VP, Servicing
Doral Bank
12.2013 - 07.2015
VP, Loan Servicing
The National Groups, LLC
10.2007 - 12.2013
Loss Mitigation Manager
GMAC-ResCap
02.2005 - 10.2007
Bachelor of Science - Finance
California State University, Sacramento