Jack Schakett has over 35 years serving the mortgage industry in senior executive positions for industry leading companies.
Schakett co-founded two companies in 2010, Dignified Home Loans, a residential mortgage lender, and Dignified Transition Solutions, a loss mitigation company that over the next three years aided borrowers in completing over 21,000 home sales.
Prior to this, Schakett served as Credit Loss Mitigation Strategies and Secondary Market Executive for the Mortgage and Home Equity businesses at Bank of America, one of the world’s leading financial services companies. In this role, Schakett was responsible for Portfolio Management, Loss Mitigation Products and Initiatives, Financial Forecasting, Secondary Marketing and Mortgage Investor Services, and Workout Strategies. During that time Bank of America had a servicing portfolio in excess of $1 trillion. In this position he played a pivotal role working with the Treasury, GSEs, Regulators, Investors and other industry leading participants in designing loss mitigation strategies and products that have become the industry gold standard. Schakett was called to testify three times before Congress on loss mitigation matters during his time in this role.
In 2008 Schakett served as the Mortgage Operations executive responsible for Mortgage Servicing, Change Management, Operational Controls, Closing Services, Central Operations, and Post Closing. While in this role he led an organization of more than 20,000 associates, a combined portfolio of more than 11 million loans, and helped to spearhead key initiatives to provide sustainable home retention solutions for the bank.
Prior to the acquisition by Bank of America, Schakett was responsible for Countrywide Home Loan’s global operations, servicing, closing services, and business transformation, including key areas of regulatory compliance and risk management. Schakett was also responsible for all technology and administrative functions for the holding company. He previously served as the Chief Operations Officer for Countrywide’s Institutional Mortgage Services Group (IMSG). This group included the Correspondent Lending and Warehouse Lending divisions.
Prior to joining Countrywide in 1998, Schakett was CEO of Harbourton Financial and before this position he was with Ernst and Young as a Partner and National Director of Mortgage Banking Practices.
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