REO/ Foreclosure Specialist

REO/Foreclosure Specialist

New York State Homes and Community Renewal (HCR) fosters the creation and preservation of high-quality affordable housing, while working strategically to revitalize neighborhoods and communities throughout the Empire State. Under the leadership of Governor Kathy Hochul and Commissioner RuthAnne Visnauskas, HCR is a vibrant, innovative agency that integrates and leverages New York State’s housing resources. We have offices in New York City, Albany, Buffalo and Syracuse, and employ a diverse workforce of professionals who are hard-working and committed to serving low- and moderate-income families. Our mission is far reaching, encompassing single and multifamily housing finance, home improvement, rent regulation, housing subsidies, and community development. We partner regularly with a variety of public and private stakeholders.

Achieving this mission requires a wide range of skills and backgrounds in public policy, administration, real estate, architecture, finance, law and many other areas of expertise. We seek to provide a workplace environment that is productive, flexible, accountable, ethical and caring. Our employees are empowered to make a difference where they live and work. We offer competitive pay and a comprehensive benefits package, including paid leave, health, dental, vision, retirement and family-friendly policies.

HCR’s Mission and Goals:

• Partner to improve and preserve New York State’s homes and communities
• Finance and leverage resources to create and preserve safe, decent and affordable housing for the States low-moderate income individuals and families.
• Support the revitalization and economic growth of the State’s distressed communities and neighborhoods
• Increase compliance with rent laws and regulations to protect the legal rights and obligations of tenants and owners: and
• Proactively enforce rent regulations and identify potential fraud.

New York State Homes and Community Renewal (NYSHCR) consists of all the major housing and community renewal agencies of New York State, which were recently merged and integrated under a single management structure.

The State of New York Mortgage Agency (SONYMA) is one of several HCR agencies. SONYMA’s programs provide mortgage financing to assist low- to moderate-income, first-time homebuyers in the purchase of a one-to-four-unit residences that are required to meet eligibility criteria established by the Agency and by applicable Federal law. This position will report to the Single Family Programs unit of SONYMA. The Single Family unit reports to HCR’s Homeownership and Community Development.

Position Summary:

The REO/Foreclosure Specialist will work with the AVP -Servicing and the Agency's servicers to facilitate more timely processing of loans in foreclosure (once all other options to assist the borrower have been exhausted) as well as the processing of required documentation to sell foreclosed properties. The position is responsible for working with servicers to ensure that foreclosures move through the process as expeditiously as possible. In addition, once properties have been foreclosed and the selling price has been approved by the pool insurer, work with servicers to process the necessary paperwork to sell the properties.

Essential Duties / Responsibilities: The primary responsibilities of the position will include, but not be limited to:

• Work with servicers and their attorneys to expedite loans through the foreclosure process.
• Responsible for timely processing of activities and responsiveness to ensure foreclosure timeline management is met.
• Work closely with attorneys on litigation and contested foreclosure matters.
• Ensure accounts are properly documented within SONYMA's system of actions taken, correspondence, and explanation of any delays.
• Maintain SONYMA metrics and protocols on all foreclosure sales.
• Complete legal follow ups and verify foreclosure sales are complete and process repossessions as necessary.
• Work in coordination with the AVP/Mortgage Servicing, the Agency's legal department and the servicer to facilitate the sale and closing of all Real Estate Owned properties (REO) by processing contracts and all other required documentation.
• Review contracts and legal documents for accuracy and completeness.
• Manage flow of paperwork to legal department and to the servicer
• Manage the eviction completion process on properties that have completed the foreclosure process and are considered real estate owned (REO) properties
• Manage external business relationships in regard to the property
• Process sales proceeds and insurance claim payments Provide status reports of progress.
• Log in to the 800-room automated call distribution system during all assigned hours to take incoming calls from the public. Assist with questions/provide requested information to callers as needed.

Requirements/Qualifications:

The requirements listed below are representative of the knowledge, skill, and/or ability required for this position:

• 3+ years successful experience in real estate and foreclosure;
• Possess a thorough knowledge of the New York State foreclosure and REO processes;
• Familiarity of New York State real estate contracts and closing documentation;
• Ability to work effectively under pressure.
• Organizational skills to manage multiple accounts simultaneously;
• Ability to work independently with minimal supervision;
• Proficient in MS Excel and MS Word;
• Excellent verbal and written communication skills; and
• Strong analytical skills and attention to detail

This job description is not intended to be all inclusive, and employee will also perform other reasonable related business duties as assigned.

WHAT WE OFFER:

• Extensive benefits package including paid leave, excellent health, dental, vision and retirement benefits;
• Promotional opportunities for dedicated professionals.