New Leader Bolsters GSE, Government Expertise
Anyone who has spent time in the mortgage industry knows that government-sponsored enterprises (GSEs) like Fannie Mae and Freddie Mac are a vital cog in the market.
GSEs own nearly half of outstanding single-family mortgages in the United States, and their influence in the market has continued to grow over the last decade. So, it’s good to have an expert on your side.
Jason Schmidt joined Cenlar in July 2022 as Vice President and Head of Claims, bringing with him 15 years of mortgage servicing experience. He has spent the last 12 years specializing in claims, with a large focus on government claims. He also has spent much of his career developing a rapport with key players at GSEs.
“In the past, I’ve partnered well with the GSEs, and plan to leverage those relationships going forward,” Schmidt said. “I’ve always worked well with the GSEs. They’re very good about working through issues if they have that good relationship with you.”
On the government side, Schmidt said, it’s all about knowing how to operate within government guidelines in a way that minimizes risk but optimizes return. His expertise proves key to Cenlar in this arena.
Plans for claims team
Schmidt has joined Cenlar’s loan operations team amid a transformation that has enhanced its structure and further deepened its bench strength. The default team — now broken into early and late stage groups [see adjacent story] — also includes further specialization within, with leaders like Schmidt.
Claims have fallen during the pandemic, due to a drop in traditional defaults. This has provided a prime opportunity to refine everything within the claims team, to update procedures, enhance technology and explore chances to improve or streamline processes.
Volumes project to be the same through the end of 2022, but as activity ramps up, Schmidt plans to further bolster bench strength within the team.
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