CRES REO/Claims Proc Sr-MTG
Collections / Commercial Workouts
What sets Bank of the West apart from other banks is our team members–they embody the optimistic spirit of the West. There is a spirit here that drives us to do more. Our team of more than 10,000 employees is vital to the success of our Bank. They reflect our modern western values—straightforward, entrepreneurial and optimistic. We seek to create a corporate culture that fosters and rewards excellence, encourages creative thinking and respects diversity – an environment where team members are engaged, supportive of one another and enthusiastic about serving our customers. Bank of the West offers the stability of a company that has a 135 year history and is part of BNP Paribas, a European leader in global banking and financial services and one of the 6 strongest banks in the world. We offer opportunities across our diverse business lines – Retail Banking, Commercial Banking, National Finance, and Wealth Management.
Responsible for evaluating and monitoring the sale of all OREO properties from the time of foreclosure or loss mitigation is complete until the property is sold. Responsible for monitoring and reporting any SBO foreclosure loans. Responsible for monthly reconciliations of accounting entries.
Essential Job Functions
1. Reviews and analyzes more complex claims and takes appropriate action.
2. Evaluates, processes, and monitors mortgage loan foreclosure/workout claims from the date of filing to the date funds are received when a foreclosure or loss mitigation action has been completed.
3. Reviews Consumer Finance Department foreclosure, First Hawaiian Bank and SBO foreclosure requests. Communicates with the requestor marketing views and/or opinions for the approval or denial of the requests.
4. Communicates directly with the claims outsource vendor, the real estate management company and SBO companies to ensure timely filing, monitors file during eviction, discusses marketing strategies, resolves outstanding problems, and facilitates the sale of each property.
5. Approves initial and subsequent repair requests and negotiates purchase offers within guidelines.
6. Ensures that each OREO loan carries a proper book balance and adjusts the balance accordingly by processing appropriate accounting entries.
7. Controls losses by resolving problems, analyzing timelines, providing reasons for delays, and documenting unusual circumstances to obtain maximum claim reimbursement.
8. Makes recommendations to management outside of guidelines.
9. Completes functions within established policies, procedures and regulations for four different types of insurers and any investors, if applicable.
10. Completes monthly OREO status report with current updates of each property along with reconciliations of accounting entries made, adjusting OREO book balances to the total general ledger amount. Also provides monthly reporting on foreclosure, marketing and sold status of SBO loans.
11. Prepares all final OREO dispositions and journals when properties are sold. Closes out claim file by auditing claim for any supplemental claim filings and closing claim loans when final funds are received.
12. Provides customers and other departments with information for OREO properties.
13. Assists with the training of other department employees.
Required Education or Equivalent Experience
- Bachelor’s Degree
- Years of functional/professional experience: One+ years of experience in mortgage loan servicing
- One+ year of experience in real estate/property management
Administrative/Technical Skills/ Other Information
- Good knowledge of mortgage documents and mortgage servicing procedures
- Good knowledge of collections/foreclosure/bankruptcy procedures
- Thorough understanding of all mortgage loan claim requirements
- Knowledge of MS Office software, including Word, Excel, Outlook and Windows
- Ability to meet deadlines and time parameters
- Analytical and research skills
- Attention to details
- Customer service and interpersonal skills
- Negotiation skills
- Personal computer skills
- Problem resolution skills
- Team-building skills
- Verbal and written communication skills
The above statements are intended to describe the general nature and level of work being performed. They are not intended to be construed as an exhaustive list of all responsibilities, duties and skills required of personnel so classified.
Bank of the West is an Equal Opportunity employer and proud to provide equal employment opportunity to all job seekers without regard to any status protected by applicable law. Bank of the West is also an Affirmative Action employer - Minority / Female / Disabled / Veteran.
Bank of the West will consider for employment qualified applicants with criminal histories pursuant to the San Francisco Fair Chance Ordinance subject to the requirements of all state and federal laws and regulations.