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. The role involves addressing any and all issues preventing timely liquidation of portfolio properties, assigning real estate agents upon referral from foreclosure, and establishing a working relationship with the assigned agent through weekly communication. Responsibilities also include negotiating Cash for Keys, initiating and following up on the eviction process, staying current on SCRA and eviction laws, and arranging lock-outs. The manager must understand personal property posting and eviction requirements in all states, analyze properties for occupied listings, and update all steps in the M&T Bank servicing system. The role requires determining necessary repairs, researching and setting listing prices (RAV), and adhering to investor timelines and municipal requirements for vacant property registration and code violations. Marketing efforts with agents, reviewing and negotiating offers, engaging support for contract completion, and recommending auction liquidation for unsuccessful marketing are also key. The position interacts with internal CAM departments and external third parties, including real estate agents and investors, and requires adherence to compliance/operational risk controls and M&T internal control standards.

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. This 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.