Cenlar Appoints Leaders to Its Default Management Operations

EWING, N.J.--(BUSINESS WIRE)--Cenlar FSB, the nation’s leading mortgage loan subservicer and federally chartered wholesale bank, announced today that it has appointed four senior leaders to the default management team.

“We are excited to welcome these members to our team – all of whom have extensive knowledge in default management and years of experience in mortgage servicing. They will all serve an instrumental role in helping Cenlar to identify opportunities to continue to build an efficient default servicing platform using people, process and technology to provide excellent service to our clients and their homeowners,” said Senior Vice President of Loan Operations William Moffett.

The new members to the default management team include:

Adam Saab, Vice President and Head of Early Stage Default, has more than 20 years of experience working in both servicing and subservicing for servicers and large banks. Adam will oversee all the early phases of the default process, which include: Single Point of Contact (SPOC) and loss mitigation. Before joining Cenlar, Adam spent 14 years at CitiMortgage where he was most recently Senior Vice President of Default Operations. Adam previously held the role of Executive Vice President of Mortgage and Consumer Operations at PNC Bank, as well serving as Executive Vice President and Chief Operating Officer at LoanCare, where he implemented an enhanced Compliance Management System.

Adam Wood, Vice President and Head of Late Stage Default, brings more than 25 years of mortgage industry and servicing experience to Cenlar. Adam will be responsible for all late stages of default, which include: bankruptcy, REO/property preservation, claims, loss analysis and foreclosure. Prior to joining Cenlar, Adam held several positions at Mr. Cooper. Most recently, he was Senior Vice President of Default Operations where he was responsible for overseeing multiple default business phases of delinquency. This included loss mitigation, modification fulfillment, foreclosure, bankruptcy and mediations/litigation. Adam was also responsible for the complete rebuild of the foreclosure and bankruptcy departments. Adam also held multiple leadership roles at Fannie Mae (FNMA).

Jason Schmidt, Vice President and Head of Claims. Jason has 15 years of mortgage servicing experience. Before joining Cenlar, Jason spent seven years at Mr. Cooper as Assistant Vice President of Claims. In this role, he managed multiple operations throughout the claims and cash management processes, as well as oversight of government claims. Jason brings expertise to the areas of bankruptcy, government and mortgage insurance claims, business analysis, default operations, portfolio management, loss analysis and foreclosure. Jason previously held leadership roles with Ocwen Financial and Brice, Vander Linden & Wernick/NBS.

Jessica Sharp, Vice President and Head of Foreclosure, brings more than 14 years of experience to Cenlar, specifically in foreclosure operations. She recently held the position of Vice President of Default for PennyMac Corporation. Prior to her role with PennyMac, Jessica was with Nationstar Mortgage where she was the Assistant Vice President of Foreclosures. During her tenure, Jessica managed multiple functions, including bankruptcy, GSE foreclosure processes, business analysis, default operations, investor reporting and loss analysis.

About Cenlar FSB

Cenlar FSB is a federally chartered, employee-owned wholesale bank, servicing loans in 50 states and its U.S. territories. As the nation’s leading subservicer, Cenlar boasts a loyal and growing client base including banks, credit unions and mortgage bankers. Our nearly 4,000 employees, strategically located throughout the United States, are dedicated to customer satisfaction and teamwork that drives client solutions that are unparalleled in quality, flexibility and innovation. Headquartered in Ewing, NJ, Cenlar is industry rated and audited regularly by independent third parties.

For more information, visit www.cenlar.com.
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