Our Default Admin team plays a critical role in managing and overseeing the performance of defaulted loans within our portfolio. We focus on loans that are typically 90 days or more past due and oversee them through the entire resolution process—from early delinquency to final loss analysis and liquidation.

Oversight and Compliance
We ensure that loan servicers adhere to the terms of their servicing agreements. This includes monitoring compliance with specific requirements such as:

• Modification Approvals - Reviewing and approving proposed changes to loan terms to help borrowers avoid foreclosure.
• REO Offer Approvals - Evaluating and approving offers on real estate owned (REO) properties to ensure they align with contractual obligations.
• Other Agreement-Specific Actions - Addressing any additional responsibilities outlined in servicing agreements.

Contractual Responsibilities
In addition to these responsibilities, we also perform tasks required by contractual agreements to maintain the integrity and accuracy of loan documentation and ownership, including:

• MERS Coordination - Ensuring loans active in MERS are properly deactivated when they enter foreclosure or bankruptcy and confirming that an Assignment of Mortgage (AOM) is recorded out of MERS.
• Custodian Certifications - Monitoring custodial certifications to ensure that mortgage loan documents have been properly delivered and exceptions are resolved.

Why It Matters
By providing this oversight, we help protect the interests of investors, maintain regulatory compliance, and support efficient resolution of defaulted loans. Our team’s work ensures transparency, accuracy, and accountability throughout the entire lifecycle of a defaulted loan.