REO Asset Manager I

M&T Bank•Getzville, NY

1d•Onsite

About The Position

This position manages a portfolio of M&T owned properties to ensure timely resale in an effort to minimize loss to M&T. This role involves addressing any and all issues preventing timely liquidation of portfolio properties. The position interacts with internal CAM departments and external third parties, including real estate agents and investors.

Requirements

A combined 3 years’ higher education and/or work experience, including a minimum of 1 year relevant work experience
Organized and detail oriented
Strong verbal and written communication skills
Strong customer service skills
Working PC skills including word processing and spreadsheet software

Nice To Haves

Bachelor’s degree
Knowledge of M&T Bank systems

Responsibilities

Maintain and liquidate a portfolio of M&T owned properties
Address any and all issues preventing timely liquidation of portfolio properties
Assign real estate agent upon referral from foreclosure, which may require an interview process and uploading of information into M&T Bank systems
Establish a working relationship with the agent selling real estate with weekly communication
Negotiate Cash for Keys using agent, attorney, investor and Mortgage Insurer (MI) according to procedural guidelines
Open the eviction process and follow up weekly with the attorney
Stay current on all SCRA laws and any changes or additions to eviction law
Make arrangements and follow up with the agent on all lock-out arrangements
Fully understand the personal property posting and property eviction requirements in all states
If the occupants are cooperative, write up an analysis of listing occupied and submit to management for approval
Follow the eviction timeline reporting and update all steps in M&T Bank servicing system
Determine if any repairs are necessary or would substantially increase the value of the property and proceed according to any investor or MI guidelines
Research and determine a listing price and a Reconciled Asset Value (“RAV”) for each property for management approval
Follow all time lines established by the investors
Follow all requirements determined by the specific municipality for vacant property registration and code violations
Follow up with the agents to take care of and avoid all code violations
Verify that taxes and hazard insurance is in place for each property
Verify that all properties are listed in the MLS
Discuss marketing with the agents on a 7 – 10 day basis
Complete write ups for list reductions and submit for management and/or investor/MI approval
Review and negotiate all offers on properties
Engage Support to have the contract on approved offers completed
Stay engaged with the agent through closing
Recommend liquidating through an auction house if marketing is unsuccessful
Adhere to applicable compliance/operational risk controls in accordance with Company or regulatory standards and policies
Maintain M&T internal control standards, including timely implementation of internal and external audit points together with any issues raised by external regulators as applicable
Promote an environment that supports belonging and reflects the M&T Bank brand
Complete other related duties as assigned