REO Asset Manager (Houston & Dallas Locations)

*Hiring in our Dallas and Houston locations*

 

SUMMARY

With the assistance of a Marketing Assistant, the Asset Manager will market and manage a portfolio of 125-150 active Real Estate Owned assets (REO).  At 75-100 files, only partial assistance will be provided from a Marketing Assistant and at 75 or fewer files, no assistance will be provided.  Team structure may vary with the investor portfolio, but for the sake of consistency, the following description will be based on assets in which we have full delegated authority to market and manage.

 

ESSENTIAL DUTIES AND RESPONSIBILITIES include the following:  Direct marketing and management of portfolioGather current market data Maintains professional demeanor and attitude within the Company and with outside vendors and maintains strong partnerships with local real estate agents, and appraisersTrains Marketing Assistant and trains and oversee Broker’s performanceReconcile the values to determine a fair market AS IS and Repaired value of the assetNew Asset AssignmentAssigns Broker within 24 hours, and monitors Marketing Assistant in obtaining occupancy check within 72 hours.Requests that Marketing Assistant orders broker price opinion and that BPO is received within appropriate timeframeDiscusses Repairs with Broker and has Marketing Assistant follow up on bidsFollow up with Marketing Assistant to ensure that initial property maintenance has been completed Prepares Market Plan within 14 days of asset assignmentTotal vacancy to list should not exceed a 21 day averageMarketing and Management of AssetEnsures that Marketing Assistant complies with all policy, procedures, and timeframes in the day-to-day property managementList property within 24 hours of market plan approvalReview bids and approve repair authorizations up to market plan approval.  Approvals that exceed market plan limits will need management approval.Responds to offers within 24 hours of receipt.  Fully negotiate offers within 5 days of receipt,  and maintain history of all offersAccepts offers within market plan approvals.  Offers that exceed market plan limits; will need management approval. Monitors Insurance claims, and proceedsReview list price every 30 days, and make adjustments as necessary.Revise market plans.Maintain files per guidelines.  Maintains Dbase information at 98% accuracy.  All assets must have accurate notes, and all data field must be entered.Approves invoices on-line for payment. Signs listing agreements, modification of terms, cancellation of listings.Elevates issues to Manager. ClosingsFunds 20% of total portfolio on a monthly basis.Profit and Loss execution should remain between plus or minus 1%Average Days as REO should not average more than 210 daysAverage Days on Market should not average more than 140 days

· Accepts best offer within approved market plan and calculates offer sheet. (Obtains management approval if offer exceeds approvals).Prepares Litton Addendum with the accepted terms.Monitor that contracts are being received in timely manner.  If contracts are not received within 3 business days then completes follow up with agent.Oversees that Marketing Assistant prepares contract folder.  Reviews contract for accuracy, and initials off that contract meets guidelines.  Submits contract to manager for signature.

· Coordinates with Closer as needed to trouble shoot closing problems that would include:  busting contracts, re-negotiating terms, extension of contracts, lender required repairs, etc. EvictionsAsset Manager will assist Eviction Specialist with reviewing offer(s).Asset Manager will see that the file is transferred to the Eviction Specialist within 72 hours from receipt of asset.  Eviction Specialist is to be provided detailed information regarding occupants, and broker contact.

EDUCATION and/or EXPERIENCE High School diploma (or equivalent) is requiredTwo or more years experience as an Asset Manager or Marketing Assistant is requiredPrevious experience in the mortgage industry requiredTo Apply, please visit our Website at www.littonloan.com/career.asp