VP of Foreclosure in Chicago, Illinois at Renovo Financial

Who We Are Renovo Financial is a dynamic and fast-growing private lender and mortgage servicer based in Chicago, dedicated to partnering with real estate investors who acquire and renovate single and multi-family residential properties. We take pride in delivering exceptional support to our clients, guiding them seamlessly from loan application to pay off with a commitment to unparalleled service. Our focus on reliability and a “win-win” approach has earned us an industry-leading repeat and referral rate, reflecting the strong relationships we build with our clients.
Position Summary The VP Foreclosure is responsible for leading and overseeing all aspects of the foreclosure process within the Renovo Financial mortgage servicing organization. This role manages the end-to-end foreclosure lifecycle of business purpose loans, including referral strategy, attorney and vendor oversight, timeline management, foreclosure litigation coordination, bankruptcy interface, post-sale execution, title resolution, and operational reporting. The VP provides strategic direction, develops policies and procedures, and drives process improvements to mitigate risk and optimize timelines. This leader partners closely with Portfolio Management, Asset Management, Legal, Servicing, REO, and Executive Leadership to minimize loss severity, reduce foreclosure cycle times, ensure regulatory compliance, and maximize portfolio recovery performance. This position requires a strategic leader with deep expertise in residential and business-purpose lending, foreclosure operations, default servicing compliance, vendor management, and operational process optimization. The ideal candidate will bring strong leadership capabilities, analytical decision-making skills, and experience scaling foreclosure operations in a high-growth lending environment.
Resposibilites · Oversee the FC/BK/Receiver and Litigation pipeline from referral to foreclosure sale.· Lead the daily operations of the foreclosure department, including foreclosure referral, active litigation management, contested matters, foreclosure sale execution, and post-sale activities.· Develop and execute foreclosure strategies that balance timeline efficiency, risk mitigation, borrower resolution opportunities, and investor recovery objectives.· Manage foreclosure processes across judicial and non-judicial states while ensuring adherence to state, federal, investor, and company requirements.· Establish operational KPIs, service level standards, and performance benchmarks for foreclosure operations.· Drive continuous improvement initiatives focused on reducing foreclosure timelines, minimizing curtailments, and improving portfolio liquidation outcomes.· Manage relationships with foreclosure attorneys, trustees, title vendors, process servers, bankruptcy counsel, auction companies, and preservation vendors.· Conduct regular attorney scorecards, vendor performance reviews, and escalation management processes.· Negotiate vendor pricing, service standards, and operational expectations to control servicing costs and improve performance.· Ensure foreclosure operations remain compliant with state foreclosure statutes, bankruptcy requirements, and investor servicing guidelines. · Communicate with preferred law firms and internal stakeholders on evolving laws regarding foreclosure and bankruptcy compliance· Partner with Compliance, Internal Audit, and Legal teams on audits, examinations, litigation matters, and regulatory responses.· Maintain foreclosure controls, exception tracking, and quality assurance procedures to mitigate operational and legal risk.· Monitor changes in foreclosure laws, servicing regulations, and court procedures to proactively adjust operational strategy.· Develop and maintain foreclosure reporting dashboards, aging reports, attorney scorecards, and executive-level portfolio analytics.· Analyze delinquency trends, foreclosure inventory performance, loss severity metrics, and operational bottlenecks.· Present foreclosure portfolio performance, risk trends, and operational recommendations to executive leadership.· Coordinate with REO teams to ensure seamless transition from foreclosure sale to property disposition.· Support servicing transfers, due diligence reviews, and portfolio acquisitions related to distressed assets.· Lead, mentor, and develop foreclosure managers, analysts, specialists, and operational support staff.· Build scalable organizational structures to support portfolio growth and operational expansion.· Foster a high-performance culture centered around accountability, operational excellence, and continuous improvement.· Establish training programs and procedural documentation to ensure consistency and operational readiness.Be the Culture· Bring Renovo’s values to life through your actions, choices, and commitment to a shared purpose.
What We Look For

• Minimum 5+ years of leadership experience managing foreclosure or default servicing teams.
• 10+ years of mortgage servicing, default servicing, or foreclosure operations experience.
• Bachelor’s degree in Business, Finance, Real Estate, Legal Studies, Accounting, or related field preferred.
• Strong analytical, operational, and project management skills.
• Advanced experience with servicing platforms, workflow systems, and reporting tools.
• Excellent verbal communication, executive presentation, and organizational skills.
• Strong understanding of bankruptcy, title, litigation management, and default servicing operations.
• Experience managing foreclosure operations for residential, DSCR, investor, bridge, or business-purpose loan portfolios.
• Experience in private lending, bridge lending, fix-and-flip, or business-purpose lending environments preferred.
• Strong knowledge of Salesforce, Equator, Microsoft Word, Outlook, and Excel.

At Renovo, we’re building a team that reflects a wide range of backgrounds, perspectives, and skills because we believe diverse voices make us stronger. We’re proud to be an equal opportunity employer and welcome applicants of all identities and experiences.