Asset Preservation Coordinator II-Onsite

Fifth Third Bank•Cincinnati, OH

7d•Onsite

About The Position

This position monitors the performance of property preservation vendors to ensure properties collateralizing delinquent loans are maintained according to investor/insurer guidelines. It also ensures the system of record accurately reflects work activities performed during the Default cycle to meet monthly investor reporting requirements. This includes ordering inspections, processing invoices for claims, and ensuring the system of record accurately reflects inspection results. The role involves managing approximately 3000 monthly inspection orders and $270,000 in annualized expenses that can be recouped. It also drives necessary maintenance at vacant properties, ensuring it's completed within investor/insurer guidelines. The position is responsible for submitting and obtaining approval for any overallowable estimates or extensions of time, and for completing work related to code violations to minimize penalties. Additionally, it involves filing hazard claims for properties with insurable damages. This role is responsible and accountable for risk by openly exchanging ideas and opinions, elevating concerns, and personally following policies and procedures. It ensures that actions and behaviors drive a positive customer experience and involves consistently identifying, assessing, managing, monitoring, and reporting risks of all types within the Bank’s risk appetite.

Requirements

High school diploma.
3 years of servicing experience (mortgage).
Ability to research and recognize problems.
Good organization skills.
Strong communication skills.
PC experience to include advanced Excel, Word and Access.

Responsibilities

Review Property Preservation Queue daily for new tasks based off of maintenance needed at vacant properties.
Monitor property preservation tasks for first time vacancy letters to the customers, ordering the securing of properties and sending change of risk letters to hazard insurance company.
Work with the escrow department to ensure cancelled policies receive force placed insurance, maintain a report for tracking these accounts.
Review over-allowable estimates from property preservation company and obtain appropriate investor/insurer approval to make repairs to the property.
Review property preservation company invoices to ensure that the charges are correct for the work completed.
Review mail with code violations and work with property preservation company to ensure our collateral is protected.
Develop an extensive knowledge of all investor/insurer guidelines for all aspects of mortgage loan default.
Work with city, county, attorneys and/or other government officials and offices on any issues of code violations at a property.
Refer damaged properties to hazard claim vendor for review for insurable damage.
Follow up with the hazard claim vendor and escrow department for claim information.
Follow up for claim payment and repair of the properties.
Contact with investors/insurers regarding distressed properties and the claim as needed.