Stephen Faulkner brings more than 30 years of diversified senior executive experience in mortgage banking operations. His creative, results-oriented management philosophy has consistently improved the performance of mortgage banking organizations. Immediately prior to joining OpExNow, Stephen served as President and COO of Vericrest Financial, a highly rated special servicer, where he implemented several unique solutions to improve loss mitigation efforts. Stephen also led efforts to develop proactive compliance and quality control, insuring a strong control environment. The results at Vericrest led to multiple ratings increases from both Fitch and S&P. In previous positions, he developed and executed organizational restructuring, strategic outsourcing and process improvement initiatives at several mortgage servicers, resulting in annualized cost savings exceeding $100 million. Stephen directed the operational integration of two mortgage servicing platforms with over 300,000 loans and associated loan balances exceeding $38 billion, resulting in increased efficiency and effectiveness of servicing. As Senior VP of Loss Prevention for Saxon Mortgage, Stephen led the development of process design and qualification tools that allowed early implementation of HAMP program, resulting in over 33,000 trial modifications in the first 90 days. His efforts in strengthening controls and procedures in Investor Reporting and Investor Accounting departments at one firm resulted in obtaining a FNMA top tier rating and a servicer excellence award. Stephen holds a B.S. from the University of Alabama with a major in Accounting. He is a licensed CPA in the State of Texas.
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