REO Specialist

AD Mortgage; Troy (OH); On-site; USD 65,000 - 95,000; Full time

Benefits offered by this job

PTO

Sick days

Paid volunteer hours

Medical insurance

Dental insurance

Vision insurance

401(k)

Job summary

AD Mortgage is seeking a dedicated REO Specialist to manage real estate owned assets from acquisition through final sale. The role emphasizes protecting asset value, minimizing carrying costs, and maximizing net recovery for investors.

The position requires overseeing eviction coordination, property preservation, and compliance, with strong focus on accurate documentation and timely closings. Office-based in Troy, MI, with standard weekday hours.

Qualifications

• Must have a high school diploma or GED.
• Preferred: associate or bachelor’s degree in business, finance, real estate, or related field.

Responsibilities

• Manage day-to-day REO portfolio through acquisition to final sale and post-closing reconciliation.
• Verify occupancy, eviction monitoring, and Cash for Keys within authority.
• Oversee property preservation, security, and maintenance to protect asset value.
• Identify and resolve title defects, liens, and code violations before repairs or listing.
• Analyze BPO, CMA, and repair estimates to set disposition strategy and price.
• Supervise listing readiness, agent marketing activity, and pricing adjustments as needed.
• Evaluate offers and secure management approval for counteroffers and best terms.
• Coordinate closing from contract to funding and ensure accurate record-keeping.

Education

High School Diploma or GED

Associate's or Bachelor's Degree in Business, Finance, Real Estate, or related field

Job description

About This Opportunity

The REO Specialist is responsible for the day-to-day management and disposition of Real Estate Owned (REO) properties acquired through foreclosure or deed-in-lieu on loans serviced by the Company. This position manages a portfolio of conventional and non-QM REO assets from acquisition through final sale and post-closing reconciliation, ensuring compliance with investor and securitization trust requirements, federal and state regulations, and Company policies and procedures.

About This Opportunity

The REO Specialist performs title and ownership verification, occupancy and eviction monitoring, property preservation oversight, valuation and pricing analysis, listing agent management, offer evaluation, closing coordination, and expense reconciliation. This role is hands-on and focused on protecting asset value, minimizing carrying costs and loss severity, and maximizing net recovery to the investor while ensuring all activity is documented accurately and completed timely.

Key Responsibilities

• REO Acquisition and Onboarding: Set up each newly acquired property in the REO report, update systems of record, confirm post-sale periods and liens with counsel, and verify the recorded COT/Deed vesting matches the investor or trust exactly.
• Occupancy, Eviction, and Cash for Keys: Monitor occupancy and support local counsel through PTFA and SCRA-compliant evictions, coordinating move-out crews and negotiating Cash for Keys agreements within approved authority.
• Property Security and Preservation: Ensure vacant properties are promptly inspected, secured, and maintained in safe, marketable condition, approving routine services within delegated cost thresholds and escalating amounts above them.
• Compliance Review and Title Clearance: Identify and resolve code violations, liens, open permits, HOA issues, and title defects before repairs or listing, while keeping taxes, HOA dues, and utilities current.
• Valuation and Disposition Strategy: Analyze the BPO, CMA, and repair estimates to recommend a Repaired or As-Is Sale strategy and an approved list price that maximizes net recovery to the investor.
• Listing and Marketing Oversight: Verify listing readiness, execute listing agreements, monitor agent marketing activity, and review pricing, recommending adjustments or agent reassignment as needed.
• Offer Evaluation and Contract Management: Evaluate all offers against the investor's best interest and Company earnest money standards, obtaining management approval for all counteroffers and highest-and-best requests.
• Closing Coordination: Manage the closing from contract to funding by updating the systems of record, collecting seller documents, verifying names and ALTA seller debits, and enforcing wire-confirmation protocols.
• Post-Closing and Reconciliation: Process final utility reimbursements, reconcile all REO expenses, and maintain a complete property file per record retention requirements.

Location and Schedule

• This is a full-time, office-based position in a modern, cozy environment in our Troy, MI office.
• Our standard working hours are Monday to Friday, 9:00 AM to 6:00 PM.

Skills & Qualifications

Education

High School Diploma or GED required.

Associate's or Bachelor's Degree in Business, Finance, Real Estate, or a related field preferred.

Experience

• 2–4 years of REO, default servicing, foreclosure, asset management, or real estate transaction experience preferred.
• Experience reviewing BPOs, CMAs, appraisals, and repair bids.
• Experience managing listing agents, preservation vendors, and contractors.
• Familiarity with eviction processes, PTFA, and Cash for Keys programs.

What We Offer | Career and Culture

• Company Culture: Inclusive, supportive company culture where you are not a number, but a voice that's heard and brings value.
• Growth Path: Defined paid training and clear pathways for career development.
• Benefits: Comprehensive benefits package including PTO, sick days, paid volunteer hours, medical, dental, vision insurance, and 401(k).

We are an equal opportunity employer and value diversity at our company. We do not discriminate on the basis of race, religion, color, national origin, sexual orientation, age, marital status, veteran status, or disability status.

We will ensure that individuals with disabilities are provided reasonable accommodation to participate in the job application or interview process, to perform crucial job functions, and to receive other benefits and privileges of employment. Please contact us to request accommodation.

AD Mortgage is a broker-voted Top 5 U.S. wholesale lender, and recognized as a top Non-QM lender in the U.S. With 20 years in the industry, we offer a full range of loan programs, including DSCR, Bank Statement, FHA, and Conventional loans.