REO Specialist II

Cenlar is the nation’s leading mortgage loan subservicer. Our unique culture is defined by our core values of respect, trust, integrity and care. A promote-from-within philosophy, and opportunities for continuous professional growth make Cenlar a great place to launch or boost your career.

The REO Specialist must work in conjunction with clients, REO Vendors, and the REO team to ensure the proper oversight and handling of REO assets from acquisition to disposition. This role may be responsible for any of the following: monitors evictions, manages property preservation, prepares marketing plans, negotiates offers, monitors timelines, evaluates and assesses property values, reviews contracts/closing documents, and handles closings.

Responsibilities:

• Provides support to the REO Specialist Senior
• Creates vendor controls to ensure quality standards and contractual guidelines are met
• Trains REO Specialist I
• Participates in vendor meetings to achieve vendor results   
• Identifies process gaps and develops new and existing processes to support the department and vendors
• Works in conjunction with investors, attorneys, realtors, vendors, and title companies to manage REO assets
• Reviews loans for referral according to REO Referral Matrix
• Oversees REO vendor to ensure timely action is being taken for REO referral, Cash for Keys, eviction, listing, under contract and closing according to guidelines
• Reviews and evaluates property values according to guidelines
• Prepares and approves marketing plans based on evaluation of property value and respective client delegated authority matrices
• Reviews Monthly Marketing Reports and listed assets for list price reductions
• Reviews and approves preservation bids and documents required for the marketing or disposition of the REO asset per respective client delegated authority matrices
• Prepares files for audits as needed
• Files hazard insurance claims when warranted and follows up on claims through decision/settlement
• Completes all necessary imaging
• Ensures violations are addressed by vendor in a timely manner
• Works daily exception reports to manage portfolio or assigned
• Handles complex title/litigation loans and work directly with legal or vendor to resolve
• Performs other duties as assigned
• Appropriately assess risk when business decisions are made, include but not limited to compliance and operational risk. Demonstrate consideration for Cenlar’s reputation as well as our clients, by driving compliance with applicable laws, rules and regulations, adhering to Policy, applying sound ethical judgment regarding personal behavior, conduct and business practices, and escalating, managing and reporting control issues, as well as effectively supervise the activity of others and create accountability with those who fail to maintain these standards

Qualifications:

• High school diploma or GED required
• Bachelor’s degree preferred
• 2-3 years of asset management, Default, or real estate experience
• Excellent verbal, written and communication skills
• Excellent organizational skills
• Attention to detail
• Ability to meet strict deadlines
• Understanding of title process, Real Estate Practices, and contracts
• Strong MS Word and Excel skills
• Proficient in Word Processing

It is critical that you have an understanding of the following: 

• Requirements under the Servicemember Civil Relief Act, specifically Evictions and Distress.
• Requirements under The Financial Institutions Reform, Recovery, and Enforcement Act (FIRREA), specifically Appraisal Requirements.

Additional Information:

• Grade Level: 56
• Employment Duration: Regular (Full-Time)

Total Rewards:

At Cenlar, you’ll receive an outstanding benefits package that includes paid medical, dental, and life insurance, 401(k), and tuition assistance as well as opportunities for training and professional advancement.

Cenlar is a drug-free workplace and an equal employment opportunity/affirmative action employer M/F/D/V/SO.