Reo Specialist/realestate Agent
- Inputs the completion date on the date the action occurs.
- Obtains approval, and modifies the scheduled date to a date in the future when a step in the process cannot be completed.
- Completes/ensures all attorney requests for additional information or documentation are provided within 24 hours of the request.
- Accepts and approves vendors/attorney invoices for services rendered or costs incurred within 72 hours of receipt of the invoice.
- Ensures all fees/costs and foreclosure costs charged are within clients allowable fees schedules.
- Notifies the investor/client the day following the sale of the sale results.
- Verifies taxes and insurance maintained and paid timely.
- Compiles, maintains, and inputs all appropriate information for each foreclosed loan in the same month that the foreclosure sale is held.
- Monitors sales process, provides posting instructions, and properly closes out file.
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- Monitor banks foreclosure proceedings, manage the banks Real Estate Owned (REO) portfolio, prepare litigation budget reports and prepare delinquency reports for portfolio and investor loans.
- Monitor foreclosure proceedings on banks commercial, retail, investor and home equity mortgage loans in various states. Prepare foreclosure package and forward to representing attorney with pertinent documentation. Maintain close communication with law firm throughout the foreclosure proceedings. Closely monitor costs associated with foreclosure case. Work to minimize loss by negotiating short sales and accepting deed in lieu when beneficial.
- Manage banks REO portfolio. Maintain close communication with real estate agents in liquidating REO portfolio. Diligently work to minimize costs associated with the liquidation of the REO portfolio.
- Prepare monthly delinquency, nonaccrual and REO reports and distribute to senior management.
- Prepare monthly Private Mortgage Insurance default notices. Gather pertinent information to prepare and report claim for loss.
- Assist mortgage servicing with customer concerns and disputes and work to procure a satisfactory resolution.
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