Overview:

This position manages a portfolio of M&T owned properties to ensure timely resale in an effort to minimize loss to M&T.

Primary 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.