Default Valuations Specialist II

Location: Cincinnati
Posted on: November 20, 2024

Job Description:

GENERAL FUNCTION: Under moderate supervision in a fast paced environment, the analyst reviews a Brokers Price Opinion (BPO) of real estate used to secure Mortgage, Installment, and Line of Credit loans that are now delinquent. Using the BPO and other valuation tools to determine a value of the asset, the analyst recommends the appropriate write down (charge off) to meet FFIEC regulatory guidelines. The analyst will also make legal recommendations for the collection or recovery of the delinquent loan. All Foreclosure, Monetary Judgment, and Release of Asset actions must follow Departmental, investor and legal guidelines with management approval. All real estate secured loans are worked as needed, and delinquencies range from 0 û 180+ daysÆ delinquent. Analysts will be responsible for working across departmental lines with Foreclosure, Bankruptcy, Loss Mitigation and others as needed to meet the expectation of the Default Collections group.

ESSENTIAL DUTIES & RESPONSIBILITIES:

* Orders and reviews Brokers Price Opinions (BPO) and/or Appraisals to evaluate data provided to determine fair market values of collateral. This information may be used to meet FFIEC guidelines, make legal recommendations or for the benefit of other departments.

* Review Origination Files for loan documents needed to make an accurate valuation and legal recommendation

* Conduct research and access credit bureau information to determine balances and lien position.

* Order Title Searches as needed on Real Estate loans and obtain results to determine the BankÆs current lien position.

* Provide extensive loss analysis regarding the loan once the current value of collateral is obtained with recommendations to management for the next course of action on the loan.

* Record all completed tasks via the collection systems (MortgageServ, NERD, CACS).

* Resolves routine problems escalating only complex calls and/or problem accounts to the supervisor.

* Acts as a liaison between default and other branches of bank servicing.

* Successfully completes assigned projects using business-related applications and Microsoft office tools as needed.

* Work with Vendors to maintain the highest quality product and notify management of any deficiencies in the vendor product or response.

SUPERVISORY RESPONSIBILITIES: None.

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