REO Asset Manager

3 weeks ago

Chicago, United States Invigorate Finance Full time

Founded in early 2008, Fay Servicing is committed to providing innovative servicing solutions for both performing and non-performing mortgage loans. As a specialty mortgage servicer and originator who sees the customer behind every loan, we understand that our customers aren't loan numbers - they're homeowners.

Before founding our company, we conducted an exhaustive analysis of the mortgage servicing industry and gained valuable insight into the problems facing mortgage servicers and their customers. With that insight, we set out to build a different kind of servicing company from the ground up.

Come join us on our journey to serve our customers and be the leader in our industryWe are currently looking for an REO Asset Manager to join our team

The REO Asset Manager will Directly manage Real Estate Owned (REO) Properties from assignment to closing. The process includes eviction management, pre-marketing, listing/marketing the property, and negotiating offers while working with the closer/attorney, client, buyer, and the title company for a successful close of escrow.

What you will do for Fay:

  • Review and approve all documentation submitted by brokers/agents
  • Recommend Marketing Strategy for Client approval
  • Prepare all broker/agent instructions from assignment to close of escrow
  • Review BPOs and Appraisals to determine a list price and reconcile if applicable
  • Confirm and negotiate offers
  • Identify courses of action relating to possible financial exposures resulting from hazardous issues
  • Prepare monthly reports and update marketing strategy every 30 days
  • Maintain good relations with the broker/agents
  • Prepare, identify, and resolve title issues
  • Timely follow-up with clients, brokers, and vendors
  • Interface with interdepartmental peers, staff, and management
  • Sustain accurate file documentation utilizing internal tracking systems
  • Participate in interdepartmental cross training
  • Understand and support the company's goals and objectives
What you will bring to Fay:
  • High school diploma/GED required; College degree preferred
  • 2 years experience as an REO Asset Manager (NOT a Listing Realtor)
  • MS Word, Excel, and internet skills


Diversity, Equity, and Inclusion are deeply embedded into our way of working at Fay. We believe that the best ideas come from having a team that is diverse in backgrounds, experiences, and perspectives. We strive to ensure each of our employees feels valued, respected and included and is presented with equal opportunities to be successful here at Fay. We are proud to be an equal opportunity workplace. The Fay Group and affiliated companies participate in E-Verify. For more information go to www.dhs.gov/E-Verify. E-Verify is a registered trademark of the U.S. Department of Homeland Security.

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