REO Coordinator
Webster Bank

Southington, Connecticut

Posted in Banking


This job has expired.

Job Info


If you're looking for a meaningful career, you'll find it here at Webster. Founded in 1935, our focus has always been to put people first--doing whatever we can to help individuals, families, businesses and our colleagues achieve their financial goals. As a leading commercial bank, we remain passionate about serving our clients and supporting our communities. Integrity, Collaboration, Accountability, Agility, Respect, Excellence are Webster's values, these set us apart as a bank and as an employer.

Come join our team where you can expand your career potential, benefit from our robust development opportunities, and enjoy meaningful work!

POSITION SUMMARY
The incumbent will coordinate all collateral maintenance and property oversight activities for the Webster Residential and Consumer loans and real estate owned (REO) portfolios, operating in compliance with laws and regulations, internal policies and insurer guidelines.

SPECIFIC RESPONSIBILITIES

1. Coordinate property and eviction/ activity for Investor/ and or Insured loans subject to conveyance claims. Order and review of property inspections for evidence of damage or vacancy. Bring property into conveyance condition as required.

2. Review and Manage Weekly Property Inspection exceptions reports, distribute reporting and present collateral recommendations for securing or remediation to the Area Manager and or the Pipeline Committee as required.

3. Coordinate property related repair and restoration bids, review estimates and photos to ensure that bids are appropriate for the work being done and comply with Webster Bank policy, Investor or Insurer fee schedules guidelines or prior approved work order estimates or that excess fees have been approved by management prior to submitting for payment.

4. Place insurance on REO assets; ensure that utilities are turned on where applicable and that winterization and grass cuts are scheduled in accordance with Webster Bank policy, Investor or Insurer guidelines.

5. Pay / manage all expenses for REO properties, producing bimonthly reporting for budget meetings

6. Review new REO and refresh appraisals - recommend charge off and write down activity as warranted by policy. Escalate valuation issues as needed.

7. REO Portfolio reporting: Collaborate with colleagues to produce accurate and complete REO Workstation & Forecast Reporting [REO Trial Balance, Listing/ Sales activity, Gains/Losses, Expenses, Charge off/Write down reviews, Occupancy changes, and other updates to the marketing status of OREO properties]. Execute data and financial updates to all systems of record for proper management and accounting reporting.

8. Maintain strong internal and external working relationships with R & R team members, business partners, assigned bank attorneys and property management vendors. Escalate vendor performance issues as needed.

EDUCATION, EXPERIENCE & SKILLS

• High school diploma/GED required; Bachelor's degree a plus.
• Preferred Experience:

o 2-3 years experience in default servicing and/ or 1-2 years experience

with property management activities.

• Excellent communication skills.

• Proficiency with Microsoft Office Suite, Oracle, Nitro, File Share, and Webster's Core

Applications (MSP, ALS, ACBS, One Touch)

• Highly organized professional with ability to work independently, manage competing

priorities and deliver timely


This job has expired.

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