REO Asset Manager (residential mortgages; Private Equity firm)

VWH Capital Management, LP (“VWH”), an SEC-registered investment advisor, is a private equity firm with approximately $3.7 billion in assets under management as of December 31, 2021. The firm is a major player in the U.S. distressed residential mortgage loan space and seeks to generate long-term returns in securitized products, distressed credit, and whole loans. VWH has offices in New York and Dallas. For more information visit www.vwhcapital.com.

VWH is seeking a REO (Real Estate Owned Property) Asset Manager, who will be responsible for a variety of duties in the REO Management / Property Valuation / Rehabilitation areas. The position requires an in-depth knowledge of property valuation and reconciliation, REO disposition strategies, realtor network, and property repair assessments. The position will be responsible for maximizing net recovery through detailed property valuation, thorough assessment of the geographic location, and determining optimal disposition strategies of all REO properties.

RESPONSIBILITIES:

• Responsible for REO timeline and expense management starting from referral through liquidation and working closely with servicers to eliminate controllable delays
• Monitor redemption/confirmation/deed recordation and title work/eviction phases, determine and implement approved alternative approaches to obtaining property vacancy, such as, Cash-for keys in lieu of eviction
• Proactively conduct BPO review/reconciliation for the REO population to determine the best REO marketing strategy (as-is, partial repair, full repair, auction, other) and work both with the VWH team, servicers, and vendors to implement the optimal strategy
• Monitor estimated closings on a monthly basis, including provide approvals for HUD-1s to the servicers
• Responsible for event-triggered reconciliation of as-is/repaired BPO values for pre-REO population
• Manage pre-REO property preservation and maintenance processes of the servicers, including assessments for filing of hazard claim insurance, where applicable
• Proactively review problem accounts with servicers; design creative solutions and work internally and with servicers to resolve issues
• Collaborate closely with internal teams and servicers to identify procedural changes and system enhancements; recommend operational improvements and assist in implementation
• Remain current on all regulatory changes and their impact on REOs servicing practices
• Continually monitor and update matrices for estimated timelines of REO phases (redemption/confirmation/deed recordation) at a State/County level, assist in creating exceptions-based milestones reporting to manage actuals against service-level agreements across all REO phases
• Evaluate potential REO and Fixed n Flip rehabilitation needs and budgets

REQUIREMENTS:

• Bachelor’s degree
• Minimum of 3 years’ experience in Real Estate or mortgage related activities including but not limited to Mortgage loan foreclosures, title and collateral, BPO/Appraisals, and/or Real Estate
• Solves problems with a sense of recognizing opportunities, understanding risks and acting quickly to overcome obstacles and reach a solution. Must be detailed oriented and consistently maintain a high level of quality, accuracy and consistency in their work
• Ability to work independently with minimal direct supervision and effectively communicate with multiple servicers on a constant basis
• Ability to organize, prioritize assigned workload for optimum efficiency
• Ability to resolve conflict appropriately and effectively resolve problems
• Strong team player with a high level of professionalism
• Intermediate Microsoft Word and Excel

BENEFITS:

• VWH offers competitive compensation including base salary and a discretionary performance bonus. VWH has a compelling benefits package, including medical, dental, and vision insurance, a 401(k) plan, and generous paid time off.

Job Type: Full-time

Benefits:

• 401(k)
• Dental insurance
• Flexible spending account
• Health insurance
• Health savings account
• Paid time off
• Vision insurance

Physical Setting:

• Office

Schedule:

• Monday to Friday

Supplemental Pay:

• Bonus pay

Ability to commute/relocate:

• Dallas, TX 75201: Reliably commute or willing to relocate with an employer-provided relocation package (Required)

Education:

• Bachelor's (Required)

Experience:

• non-performing residential mortgage: 3 years (Required)

Work Location: One location