REO Coordinator
Webster Bank

Job Info

Since 1935, Webster Bank has been helping individuals, families and businesses meet their financial goals. As a leading regional bank, Webster's strong foundation is built on our core values of responsibility, respect, teamwork, trust and commitment to our communities. Webster bankers remain our most valuable asset, and we pride ourselves on our diverse, equitable and inclusive work environment. Come join our team!

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:

o2-3 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

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