REO Specialist

Job Summary

Responsible for managing all Real Estate Owned (REO) assets from post‑foreclosure sale through final disposition. This role requires strong coordination, communication, and analytical skills to ensure compliance with investor guidelines and efficient resolution of all REO activities which include minimizing loss to the company.

Essential Duties & Responsibilities

• Manages the REO pipeline for properties following foreclosure sale completion.
• Submits Default Cash payment requests for liens, utilities, and other approved obligations.
• Refers and tracks eviction cases with approved attorney firms through completion.
• Coordinates with third-party lienholders to support lien resolutions and ownership transfers per guidelines.
• Reviews documents for completeness and prepares them for notary execution.
• Supports CWCOT property sales, including reserve calculations and listing updates.
• Reviews contracts, settlement statements, and offers for accuracy; assists with counteroffers, concessions, and closing cost calculations.
• Updates LoanSphere and related systems to maintain accurate records and reprojections.
• Follows up with attorney firms, preservation vendors, and REO vendors to track status and meet deadlines.
• Reviews repair estimates, performs cost comparisons, and documents vendor bids.
• Processes relocation agreements, coordinates document execution, tracks move-out timelines, and submits payment requests.
• Tracks conveyance timelines, deeds, extensions, claims referrals, and extended sales activity, including redemptions and upset bids.
• Performs other duties and projects assigned.
  
  
  

Qualifications

• High School Degree or equivalent required; Bachelor’s degree preferred.
• Minimum of five (5) years’ experience in the Mortgage Servicing industry preferred.
• Minimum of three (3) years’ experience in administration and servicing loans in Post Liquidation required.
• Minimum of one (1) years’ experience and shown proficiency in Black Knight Financial Services (MSP/BKFS) and LoanSphere servicing systems preferred.
• Experience working within Federal and State regulations related to Mortgage Servicing.
• Experience working within investor and insurer guidelines related to FNMA, FHLMC, GNMA, VA, FHA and USDA.
• Proficient with Microsoft Office applications: Word, Excel, PowerPoint, Outlook, and Teams.
• Ability to interpret data and apply basic to intermediate math skills.
• Exceptional verbal, written and interpersonal communication skills.
• Solid problem-solving skills with a practical, solution-focused approach.