REO Loss Mitigation Specialist

Colonial Group; Greenwood Village (CO); On-site; USD 45,000 - 65,000; Full time

Job summary

Bellco is seeking an Loss Mitigation OREO Specialist in Greenwood Village, CO to manage and mitigate losses on real estate properties. You will oversee foreclosures, REO properties, and work with borrowers to minimize financial loss while maintaining compliance.

The role reports to the Manager of Collections/Loss Mitigation. This position requires a High School diploma and about 3 years of real estate collection, foreclosure, or loss mitigation experience.

Qualifications

• High School diploma required.
• 3 years of real estate collection or foreclosure experience preferred.
• Familiarity with loan documents, Note, Deed of Trust, Credit Reports, and Property Evaluations.
• Experience with investors such as Fannie Mae, Freddie Mac.
• Bilingual English/Spanish preferred.

Responsibilities

• Demonstrates Bellco’s Act Nice Behaviors and Core Values in all interactions with members, prospective members, and personnel in other Bellco departments.
• Examine and evaluate real estate loss mitigation requests on portfolio and investor loans, and decide what solutions are available to the member.
• Complete calls to members on real estate and investor accounts to resolve delinquencies or to obtain necessary information for loss mitigation solutions.
• Complete pre-foreclosure reviews to ensure loans are referred timely based on company and investor/portfolio guidelines.
• Prepare approved foreclosure referrals and all required supporting documentation to be sent to attorneys.
• Oversee the management, marketing, and sale of foreclosed properties, ensuring that all tasks are handled efficiently to minimize losses for the Credit Union.
• Review delinquent accounts and decide if foreclosure action is warranted.
• Review documents and affidavits from attorneys for accuracy, determine next steps and respond within required timeframes.
• Responsible for tracking all activities on mortgage loans in foreclosure so that reviews and bidding instructions are obtained within the time frame, including scheduled foreclosure sales results.
• Work closely with loan servicers, property management companies, real estate agents, and legal teams to ensure all REO properties are managed and disposed of effectively.
• Work with management and make decisions on REO property preservation.
• Ensure Bellco REO properties are properly maintained, securing vacant homes, conducting necessary repairs, and ensuring compliance with local regulations
• Make sure all activities comply with federal and state regulations, as well as the institution's policies and procedures.
• Performs other related duties as assigned by management.

Skills

Loan documents

Investor relations

Multitasking

Communication

Analytical skills

Bilingual EN/ES

Education

High School diploma

Job description

Bellco is seeking an Loss Mitigation OREO Specialist in Greenwood Village, CO to manage and mitigate losses on real estate properties. You will oversee foreclosures, REO properties, and work with borrowers to minimize financial loss while maintaining compliance.

The role reports to the Manager of Collections/Loss Mitigation. This position requires a High School diploma and about 3 years of real estate collection, foreclosure, or loss mitigation experience.