Overview:
The REO Asset Manager – Operations Support is a hybrid role designed to provide specialized asset management expertise while maintaining operational flexibility across multiple REO functions. This position dedicates approximately 50% of time to managing assigned REO property portfolios from acquisition through final disposition, and approximately 50% as a cross-functional floater providing support to Pre-Marketing, Eviction Coordination, Title Coordination, Closing Services, and Claim Processing functions. This role is ideal for an experienced REO professional seeking to expand their skill set across multiple operational domains while maintaining core asset management responsibilities.
Job Responsibilities:
Primary Responsibilities – Asset Manager (50% of time)
This position functions as an REO Asset Manager with full responsibility for assigned property portfolios:
- Manage assigned REO property portfolios from acquisition through final disposition, including coordination of acquisition, inspections, marketing, and disposition activities.
- Coordinate with vendors, agents, attorneys, and internal teams to ensure timely property preservation, marketing, and sale of assigned properties.
- Monitor timelines and ensure compliance with investor, insurer, client, and regulatory requirements throughout the property lifecycle.
- Review and maintain accurate property records, including occupancy status, valuations, title reports, and investor requirement compliance documentation.
- Assist in resolving title issues, code violations, and other property-related challenges in coordination with appropriate departments and vendors.
- Track and report on key performance metrics such as days on market, liquidation timelines, recovery rates, and compliance status.
- Order and follow up on BPOs, Supplemental BPOs, and appraisals; review valuations to determine appropriate listing prices.
- Coordinate preservation work including rekey, winterization, repairs, securing, trash-out, and landscaping activities.
- Submit preservation bids to clients for review and approval; follow up on timely completion of approved work.
- Monitor occupancy and obtain weekly updates from field agents; oversee occupancy resolution and Cash for Keys negotiations.
- Prepare monthly performance reports and adjust marketing strategy every thirty days based on market conditions and client feedback.
- Support the development and implementation of process improvements to enhance REO operations efficiency.
- Maintain confidentiality of sensitive borrower and property information and comply with all regulatory requirements.
Cross-Functional Support Responsibilities – Operations Floater (50% of time)
As an operations floater, this position provides specialized support to one or more of the following operational areas based on business needs, workload demands, and project priorities. Responsibilities are assigned on a rotating or as-needed basis:
Pre-Marketing Support
- Receive, review, and validate newly assigned REO assets; establish timelines and update servicing and asset management systems.
- Coordinate occupancy inspections, monitor vacancy status, and coordinate possession timelines.
- Review and approve preservation bids; oversee repairs, maintenance, securing, trash-out, cleaning, and landscaping.
- Coordinate utility activation, transfer, and maintenance activities.
- Review HOA information, fees, violations, and requirements; coordinate resolution of issues impacting marketability.
- Verify timely completion and submission of BPOs, Supplemental BPOs, and appraisals.
- Verify all pre-listing activities are completed and properties meet client and investor requirements before marketing.
- Monitor KPIs, service level agreements, and vendor performance metrics.
Eviction Coordination Support
- Assist in managing the REO eviction process, including legal evictions and Cash for Keys programs in accordance with investor guidelines.
- Review inspection results for newly identified vacancies and ensure vacancy and property preservation tasks are launched.
- Communicate with field agents and vendors regarding outstanding tasks and obtain confirmation of completion.
- Monitor asset inspection tasks to ensure inspections remain current and address overdue items.
- Maintain regular communication with eviction attorneys and ensure documentation and updates are recorded.
- Review and maintain eviction documentation, including Notices to Quit, Notices to Vacate, complaints, court filings, and possession documents.
- Coordinate and negotiate Cash for Keys offers with occupants in accordance with investor guidelines.
- Maintain accurate system notes and status updates for internal stakeholders.
Title Coordination Support
- Verify foreclosure deed recordings through approved systems and enter recording information accurately.
- Research and input tax information using online tax resources and servicing systems; validate tax details and resolve discrepancies.
- Enter title data accurately into company systems and track/follow up with vendors and internal stakeholders on title report submission.
- Maintain complete and accurate records across all systems; review data for consistency and compliance with company requirements.
- Analyze title-related information with high accuracy and ensure all tasks are completed within established timelines.
- Coordinate with vendors, attorneys, county recording offices, and tax authorities as needed.
- Escalate issues that may impact timelines, compliance requirements, or service delivery.
Closing Services Support
- Assist with processing contracts and coordinating between buyers, title companies, attorneys, and clients.
- Prepare broker/agent instructions and closing documentation as needed.
- Monitor redemption timelines and request abandonment approvals from clients.
- Process client approvals for attorney invoices and coordinate payment processing.
- Obtain and process attorney documentation related to closing activities.
- Coordinate with title companies on title commitment issues and closing requirements.
Claim Processing Support
- Report vandalism, disasters, and other insurable events with supporting documentation and photographs to clients.
- Obtain and submit bids for insurance claims and coordinate claim processing with insurance carriers.
- Maintain documentation supporting claim submissions and follow up on claim approval and payment.
- Coordinate property remediation and repairs related to claim settlements.
Core Competencies
- Analytical thinking and problem solving
- Accuracy and attention to detail
- Time management and prioritization
- Strong organizational and communication skills
- Collaboration and teamwork across multiple departments
- Customer service orientation and vendor relationship management
- Adaptability and flexibility in a dynamic environment
- Continuous improvement mindset
- Compliance and regulatory knowledge
Qualifications:
Required Qualifications:
- Bachelor's degree in Business, Real Estate, Finance, or a related field
- 5+ years of experience in REO, asset management, mortgage servicing, or related functions
- Strong understanding of REO operations, timelines, investor guidelines, and property preservation practices
- Knowledge of foreclosure, eviction, and post-sale processes and requirements
- Excellent organizational, communication, analytical, and problem-solving skills
- Ability to manage multiple priorities and meet competing deadlines in a fast-paced environment
- Proficiency with Microsoft Office and REO management platforms (e.g., RES.NET, Equator, Pyramid, Salesforce, or similar)
- Strong vendor management and stakeholder relationship skills
- Ability to handle sensitive, confidential information with discretion and professionalism
Preferred Qualifications:
- Experience in multiple REO operational functions (asset management, pre-marketing, eviction coordination, title services, closing services)
- Experience with title research and tax information systems
- Experience as a closer or with closing coordination
- Knowledge of state-specific foreclosure, eviction, and post-sale legal requirements
- Experience with insurance claims processing or coordination
- Demonstrated success mentoring or training junior team members
Total compensation for this role includes a base salary of $60k - $75k, $10,000 in employer-sponsored life insurance, health insurance, a 401(k) employer match, and accrual of 100 hours of PTO per year, with increases based on length of service. Travel-related expenses will also be reimbursed.
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