Bank of the West REO/Claims Processor II in Omaha, Nebraska
REO/Claims Processor II
At Bank of the West, our people are having a positive impact on the world. We’re investing where we feel we can make the most impact, like advancing diversity and women entrepreneurship programs, financing for more small businesses, and promoting programs for sustainable energy. From our locations across the U.S., Bank of the West is taking action to help protect the planet, improve people’s lives, and strengthen communities. We are part of BNP Paribas, a global leader supporting the UN Sustainable Development Goals (SDGs). Yes, we’re a bank, but as the bank for a changing world, we are continually seeking to improve the ways we help our customers, while contributing to more sustainable and equitable growth.
Job Description Summary
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
Reviews and analyzes more complex claims and takes appropriate action.
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.
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.
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.
Approves initial and subsequent repair requests and negotiates purchase offers within guidelines.
Ensures that each OREO loan carries a proper book balance and adjusts the balance accordingly by processing appropriate accounting entries.
Controls losses by resolving problems, analyzing timelines, providing reasons for delays, and documenting unusual circumstances to obtain maximum claim reimbursement.
Makes recommendations to management outside of guidelines.
Other Job Duties
Completes functions within established policies, procedures and regulations for four different types of insurers and any investors, if applicable.
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.
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.
Provides customers and other departments with information for OREO properties.
Assists with the training of other department employees.
- experience in real estate/property management
- High School Diploma or GED Required
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
Personal computer skills
Problem resolution skills
Verbal and written communication skills
Equal Employment Opportunity Policy
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.
Job: Collections / Commercial Workouts
Location: United States-Nebraska-Omaha
Requisition ID: 052365