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Cenlar Appoints Four to Its Default Management Team

Mortgage loan subservicer Cenlar FSB has announced that it has appointed four senior leaders to the default management team, including Adam Saab, VP and Head of Early Stage Default; Adam Wood, VP and Head of Late-Stage Default; Jason Schmidt, VP and Head of Claims; and Jessica Sharp, VP and Head of Foreclosure.

“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,” said Cenlar SVP of Loan Operations William Moffett. “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.”

Adam Saab

Saab has more than 20 years of experience working in both servicing and subservicing for servicers and large banks. He will oversee all the early phases of the default process for Cenlar, which includes Single Point of Contact (SPOC) and loss mitigation. Before joining Cenlar, Saab spent 14 years at CitiMortgage, where he was most recently SVP of Default Operations. He previously held the role of EVP of Mortgage and Consumer Operations at PNC Bank, as well serving as EVP and COO at LoanCare, where he implemented an enhanced compliance management system.


Adam Wood

Wood brings more than 25 years of mortgage industry and servicing experience to his new role with Cenlar. He will be responsible for all late stages of default, which include bankruptcy, REO/property preservation, claims, loss analysis, and foreclosure. Prior to joining Cenlar, Wood held several positions at Mr. Cooper, most recently, SVP of Default Operations, where he was responsible for overseeing multiple default business phases of delinquency. He was also responsible for the complete rebuild of Mr. Cooper’s foreclosure and bankruptcy departments. He also held multiple leadership roles at Fannie Mae.


Jason Schmidt

Schmidt comes to Cenlar with 15 years of mortgage servicing experience. Before joining Cenlar, he spent seven years at Mr. Cooper as Assistant VP of Claims, were he managed multiple operations throughout the claims and cash management processes, as well as oversight of government claims. Schmidt 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

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

About Author: Eric C. Peck

Eric C. Peck has 20-plus years’ experience covering the mortgage industry, he most recently served as Editor-in-Chief for The Mortgage Press and National Mortgage Professional Magazine. Peck graduated from the New York Institute of Technology where he received his B.A. in Communication Arts/Media. After graduating, he began his professional career with Videography Magazine before landing in the mortgage space. Peck has edited three published books and has served as Copy Editor for Entrepreneur.com.

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