Foreclosure/OREO Analyst

S3 Shared Service Solutions
Linthicum, MD
Apr 14, 2017
Apr 24, 2017
Full Time
Overview:This position will be responsible for managing a wide range of duties, involving recovery, foreclosure and property management oversight in a shared service environment. The primary goal is to manage the foreclosure processes and effectively manage the OREO properties in accordance to all regulations and state specific laws. Knowledge of origination, lending workout solutions, mortgage lending/foreclosure and OREO processing is essential. Problem resolution of more complex member issues and concerns, are required of this position. This includes the ability to handle seriously delinquent accounts and members who are in financial difficulty in an appropriate manner to minimize losses. S3 has a commitment to excellence and the highest standards of member service. Our values and beliefs are critical to the success and growth of the business and they were all created with a unique cultural foundation. The Foreclosure/Oreo Analyst is a mid-level position and will be responsible for managing the foreclosure process, OREO process, and managing the Property Management Company who will handle the marketing of all Credit Union properties in OREO. Responsibilities:- Proceeds with collection and administrative activity in a prompt, professional manner, to include collections and financial solutions on all mortgages products. Adheres to all applicable state and federal laws as well as internal policies and procedures- Must solve daily property issues, maintain value, maximize assets value where appropriate, and manage the full disposition of the asset with the Property management Company- Preparation of decisioning packets for Credit Unions to begin foreclosure process- Order appraisal and broker price opinions (BPO)- Review offers and counter offers; recommend approval/acceptance of offers in accordance with the Credit Union's guidelines; process and monitor all contracts and sales; ensure timely closings through the attorneys and Property management Company- Oversee timely payment of bills for all property related expenses- Input data and maintain OREO files and communications in all forms. Update monthly and quarterly reports- Interpret Credit Union guidelines to inspect, manage and maintain properties until sold, working with the Property Management Company- Develop and present monthly (and quarterly) board report summaries of asset performance- Meet with external examiners or auditors as required- Management retains the discretion to add or change the duties of the position at any time- Adhere to confidentiality policy, code of ethics and all other credit union policies/procedures, as well as all other consumer compliance policies/procedures- Work with Credit Unions on a daily basis to maintain oversight of pending foreclosures- Manage the OREO portfolio by creating a Parcel File for each OREO under their control and then performing a semiannual review of these files for adherence to this policy- Comply with all Other Real Estate Owned (OREO) regulations, regulatory guidance, and Generally Accepted Accounting Principles (GAAP). The Foreclosure/OREO Analyst will work with the Accounting Department at each credit union. Applicable accounting guidance includes, but is not limited to, Statement of Financial Accounting Standards (SFAS) Nos. 15, 66, 114, and 144 Since OREO is generally an undesirable asset, the Credit Union will actively seek to sell OREO- Work in collaboration and partnership with other team members- Serve as back-up for other collection functions as necessary- All other duties as assignedQualifications:- High School Diploma required/Associate's Degree or higher preferred- Working knowledge of computers and a variety of software- Ability to meet deadlines with strong attention to detail - Ability to tactfully question or actively listen and negotiate effectively with members, employees/departments, to determine specific needs and solutions - Excellent analytical abilities to review all loan detail, and member issues to recommend possible workout solutions- Proficient in Microsoft Office- Knowledge of Fannie Mae and Freddie guidelines, as well as Private Mortgage Insurance requirements- Minimum 5 years of experience in collections/mortgage foreclosure- Minimum 2 years of investor experience- Legal experience related to foreclosures and OREO management is required- Knowledge of 571 claim experience - Solid Knowledge of Credit, Collection, and Foreclosure laws at a national level- Ability to prioritize workload based on mandatory requirements and member service level agreements- Strong analytical skills required with a high degree of accuracy - Ability to work flexible hours as needed- Ability to multi-task in other areas of the unit- Positive attitude and team-oriented