Christopher Mccormick Email & Phone Number

Houston, Texas Area

Newrez LLC (Newrez) is a leading nationwide mortgage lender and servicer. Newrez’s servicing business consists of its performing loan servicing division, Newrez Servicing, and its special servicing division, Shellpoint Mortgage Servicing. Newrez also has several affiliates that perform various services in the mortgage and real estate industries. These include Avenue 365 Lender Services, LLC, a title agency, and E Street Appraisal Management LLC, an appraisal management company. Newrez is member of the New Residential Investment Corp. family. More information is available at www.newrez.com.

Dallas - Ft. Worth, Texas

Dakota Asset Services (“DAS”) is a Houston-based real estate management firm focused on the disposition of REO assets. Dakota maintains properties, both single family houses and condos, for sale in the U.S. and Puerto Rico. DAS was founded in 2012 by a seasoned group of real-estate professionals and is a subsidiary of Rushmore Loan Management Services LLC. DAS works primarily with institutional sellers, hedge funds, and private equity clients whose ultimate goal is to maximize execution on every single asset. DAS offers full service management capabilities commencing at foreclosure sale date and ending with the funding of the property.

Fort Worth, Richardson, Addison, Tx

Hired to add executive focus and default industry expertise to BofA’s Bankruptcy Department. Assumed responsibility for all bankruptcies in the following functions: New case setups, Payment Change Notifications, Proof of Claim and Amended Proof of Claim, Bankruptcy Loss Mitigation, Reaffirmation Filing, and Bankruptcy Cash Processing. Notable Accomplishments: -Successfully completed BofA’s Continuous Improvement Plan leading to passing internal and OCC audits and achieving Consent Order lift in Bankruptcy. -Successfully complete remediation of thousands of Proofs of Claim and Amended Proofs of Claim in my first six months by leveraging internal resources and through on-boarding an outsourcer and multiple contractors. -Transitioned consumer deposit accounts, credit cards, business credit cards, HELOC, and vehicle loans into an end-to-end bankruptcy process aligning best practices and creating processing efficiencies.-Created process efficiencies in all teams leading to reduced processing times and cost savings.-Managed previously sub-performing process into “Green” status on all key performance indicators, and performance continues to trend upwards in all areas.

Dallas, Tx

Senior Executive and Team Leader for The FORCE and The Default Title Coalitionhttp://www.thefivestar.com/force/ http://www.titlecoalition.com/Since 2002, the Five Star Institute has been committed to delivering unsurpassed education, publications, events, and forums that speak to the mortgage industry and answer its most relevant and imperative needs. In return, the industry has rewarded us by making our in-print and online publications the most widely read of their kind and by making the annual Five Star Conference the single largest event in the U.S. mortgage industry. Within each of our communication mediums, the Five Star's mission is to support the growth and success of our clients and the industry. And because of that commitment, the Five Star is the mortgage industry's preferred resource for knowledge exchange.

Lewisville, Tx

Hired to build P&L and staff for all Default Departments for the reverse mortgage portfolio. These Departments were Foreclosure, Bankruptcy, Property Preservation, and REO. Transitioned into an oversight role as ideas on servicing strategy shifted, and all operational areas were merged into the standard servicing platform.

Irving, Tx

Saxon, a wholly owned subsidiary of Morgan Stanley and headquartered in Irving, Texas, provided high-touch loan servicing for both third-party portfolios across various asset classes and for Morgan Stanley mortgage products. Saxon delivered asset performance with a “high touch” and “borrower-centric” servicing strategy, emphasizing first call resolution, early intervention, and loss mitigation. Hired to take over and improve the operations of Saxon’s HAMP program and Loss Mitigation Fulfillment. Assumed expanded responsibilities of managing Government Analytics and Reporting, Property Preservation, and REO. Transitioned from HAMP/Loss Mitigation Fulfillment to Default Management. Management responsibility for personnel, process, and departmental P&Ls of the Foreclosure, Bankruptcy, Property Preservation, and REO Departments. Appointed to the company’s Executive Committee, and participated in directing company policy and strategy. Notable Accomplishments:-As acting Co-CEO, completed staged wind down of all loan servicing operations and staff on schedule and on budget. -Member of Saxon’s Executive Committee.-Implemented process improvements in the REO Department that resulted in a 6% decrease in loss severities.-Decreased the level of aged legacy stated income HAMP modifications from 60% of the inventory to 0% in 90 days.-Implemented Modification process changes discovered in staff interviews creating “front-line” efficiencies.-Created new reporting packages to proactively manage performance. -Partnered with the United States Department of the Treasury to ensure all new HAMP directives were implemented timely and accurately. -Created a plan that resulted in efficiencies that saved the company approximately $4MM in 2012.

Baton Rouge, Louisiana Area

A full service outsourcing company specializing in the management and sale of bank owned property in the southern region. Successfully mitigated customer losses through superior property and vendor management; Founded and led a 20 employee LLC based on strategic vision of a need in the industry. Responsible for all P&L functions and operations for the company. Oversaw the management, pricing, and sale of 3,000+ bank owned residential properties. Notable Accomplishments:-Generated a 300% ROI with $1.8MM in revenue in the first full year of operation.-Reduced Client's loss severity in assigned region by an overall average of 5%.-Managed dispositions to client's matrix with a 98% compliance rate.

Greater Denver Area

First American Financial Corporation is a world-wide leader in real estate products and services. The companies in the First American Financial Corporation family include First American Title Insurance Company and First American Homeowners Insurance Company. First American REO Servicing (FAREO) was an industry leader in the management and disposition of bank owned real estate and wholly owned by First American Financial Corporation.Hired as Vice President of Operations and Strategy. Within four months, promoted to assume operational and P&L management of First American REO Servicing (FAREO) brand. Challenged to turnaround declining market share, revenue, and company moral. Oversaw strategic planning, operations, IT, accounting, facilities, and marketing. Member of the First American Default Information Services Executive Management Team which supported overall division planning and expansion.Notable Accomplishments: -Led FAREO from two consecutive years of losses to profits, delivering year over year improvements culminating in a +300% growth in profits in 2007.-Increased production by +400% through improved staff focus, new business development, and expenses reduction efforts.-Led the change of the inherited corporate culture into a motivating environment that increased productivity and employee retention in a very competitive market. -Designed and implemented incentive programs that drove compliance with our clients' matrices and increased production which contributed to increases in revenue. -Implemented business process outsourcing to First India Corporation resulting in a 70% expense reduction in AP/AR processes.-Managed internal compliance and audit staff while also interacting with the compliance officers and auditors from both First American's corporate offices and clients' organizations.

Houston, Tx

Litton Loan Servicing LP was one of the top rated residential mortgage loan servicers in the industry as it works to cure problem loans and prevent foreclosures by providing delinquent customers with a full range of structured counseling and support services. Led the REO Department to year over year performance improvement. Responsible for daily operation and oversight of all areas within the REO Department including eviction, pre-marketing, valuations, marketing, contract negotiation, title, closing, funding and Quality Assurance/Auditing. Responsible for projecting growth, hiring, training, and mentoring staff. Met with investors and rating agencies to discuss the management and disposition of assets.Notable Accomplishments:-Managed REO Department through growth of +700% staffing and +800% production while improving departmental KPI performance.-Created performance reporting resulting in increased efficiencies through enhanced focus on exception management.-Created and implemented incentive programs resulting in a 20% increase in productivity and an average of 3% reduction in loss severities.-Managed multiple client matrices to successfully deliver client structured results.-Passed all internal, client, investor, and rating agency audits.-Participated on process improvement teams across several departments including Foreclosure, Valuations, and High Risk Loans.

Pensacola, Florida Area

Washington Mutual Bank’s consumer finance division with 300+ branches across the United States. The bank consolidated the servicing of past due loans into a centralized servicing center. Other loans included in the consolidation were small pools of sub-prime mortgages they acquired through multiple channels.Hired to manage all delinquent mortgages for Washington Mutual Finance. Due to the relative size of the mortgage loans, there was intense scrutiny from all level of the organization. Worked closely with Center Operations Manager, COO, and CEO.Notable Accomplishments:-Created processes and procedures for Collections, Loss Mitigation, Bankruptcy, Foreclosure, and REO.-Consistently exceeded all production goals.-Hired and trained staff on mortgage default servicing practices.

Baton Rouge, Louisiana Area

Large financial services company with multiple divisions including mortgage originations and mortgage loan servicing. Promoted to positions of increasing responsibility based on consistently demonstrating the ability to exceed expectations in the performance of assigned functions. Jobs performed included asset management, loan underwriting, foreclosure, and loss mitigation. The Default Management Department was responsible for cradle-to-grave management of defaulted loans through Loss Mitigation, Foreclosure, and REO liquidation.

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