As the mortgage servicing industry faces mounting pressure from economic uncertainty, climate-related risks, and rapid technological change, leadership at the top of its key trade groups is more important than ever. This year, the National Mortgage Servicing Association (NMSA) enters a new chapter with a Chair focused on cohesion, innovation, and long-term impact. In this Q&A, incoming Chair Patrick Coon outlines a vision centered on strengthening collaboration among competitors, advancing the industry’s response to weather and insurance challenges, and embracing artificial intelligence responsibly.
Currently serving as SVP of Default and Loss Mitigation for U.S. Bank, Coon has built his career over four decades, spanning the consumer services and mortgage industries. He spent 20 years in the consumer services sector with roles at Ford, American Express, and Associates First Capital. In 1998, he joined Chase Mortgage, where he led all U.S. servicing operations. Over the next 27 years, Coon held leadership roles at Pacific USA Holdings, Select
Portfolio Services, Cenlar, and Home Point Financial. In 2024, he joined U.S. Bank as SVP of Default and Loss Mitigation, based in Irving, Texas. Coon earned his degree from St. John Fisher University.
Q: As you step into the role of Chair for the National Mortgage Servicing Association, what are your top priorities for the NMSA over the next two years?
Coon: As Chair, my top priorities are to keep the NMSA cohesive, engaged, and forward-looking by ensuring every member feels heard, valued, and informed. This organization is a collective of exceptional professionals, and my role is to listen, elevate our shared expertise, and represent the needs of both our members and the broader industry with a clear, unified voice. Over the next two years, that focus centers on advancing our leadership on weather and insurance impacts, while also responsibly embracing AI—ensuring its use is strategic, transparent, ethical, and grounded in strong stewardship for employees, customers, and the market.
Q: What does “operational excellence” in mortgage servicing mean to you in today’s environment?
Operational excellence in mortgage servicing means meeting customers where they are—delivering clear, accurate, and timely service through the channel they choose. It’s about educating, not just transacting, while continuously modernizing through technology and collaboration. Done well, it creates
optionality, reduces friction, and allows servicing to compete with faster, more transactional experiences—without losing trust or rigor.
Q: NMSA represents a significant share of the servicing market. How do you foster collaboration among competitors?
Collaboration within NMSA is fostered by honoring the trust and professionalism that already exists among its members. I’ve had a front-row seat to the depth of expertise across this organization, and what consistently stands out is a shared commitment to doing what’s right for the industry. My role isn’t to force collaboration, but to steward it—protecting a culture where competitors come together openly, share insights, and build solutions that are stronger than any one organization could achieve alone.
Q: You’ve built a reputation as a people-first leader. How does that philosophy influence your approach to leading an organization like NMSA?
Being a people-first leader shapes my approach by grounding everything in respect, inclusion, and active listening. I’ve been fortunate to learn from incredible mentors, peers, and teams throughout my career, and that experience has reinforced a simple belief: everyone matters, and every voice deserves to be heard. As Chair, that philosophy means creating space for members to engage, ask questions, share perspectives, and lead—because the strength of NMSA comes from the collective participation and leadership of its people.
Q: What would success look like at the end of your term as Chair?
Success at the end of my term as Chair would mean building on the strong foundation established by Ed Delgado and those who came before me—strengthening and expanding NMSA’s footprint while making a measurable impact on mortgage servicing. I would view success as our members being better equipped, more aligned, and more influential, with tangible progress in how servicing is delivered across the industry over the next two years.
