SECU · 1 day ago
Real Estate Owned (REO) Manager
Wake Forest, NC
Full-time
Onsite
Senior Level
7+ years expSECU is a credit union focused on the philosophy of 'People Helping People'. The Manager of Real Estate Owned (REO) Operations is responsible for overseeing all aspects of REO properties management, marketing, and eviction processes, with a focus on minimizing credit losses and maximizing recovery across the real estate secured product portfolio.
AccountingBankingFinancial Services
Responsibilities
Direct the day-to-day operations of REO management and marketing, ensuring all activities related to foreclosed or DIL mortgages and HELOCs are processed accurately, timely, and in compliance with relevant laws and regulations (e.g., RESPA, TILA, FDCPA, Bankruptcy Code, etc.)
Manage relationships with external legal counsel, REO Management and Marketing firms, investors, and insurers, ensuring high-quality service, cost-effectiveness, compliance and adherence to service level agreements (SLAs) for acquired real estate collateral
Develop, implement, and enforce policies and procedures for all REO activities, including property valuations, eviction processes, property management and marketing including disposition strategies
Monitor REO timelines, milestone compliance, and case progression to ensure adherence to investor guidelines and regulatory requirements
Ensure timely and accurate reconciliation of all financial transactions related to REO properties
Develop, implement, and continuously refine workflow and strategies for managing the credit union's REO portfolio (mortgage, HELOC) optimizing for speed and recovery
Evaluate portfolio sales performance trends, legal and regulatory developments, and economic conditions specific to real estate to proactively adjust strategies and operational workflow planning
Establish and monitor key performance indicators (KPIs) for all REO operations, driving continuous improvement in efficiency and effectiveness
Evaluate and implement new technologies, systems, or process enhancements to improve efficiency, accuracy, and compliance across all REO processes
Lead, mentor, and develop a high-performing team of REO specialists
Foster a culture of continuous improvement, compliance, accountability, and member-centricity within the department
Direct staffing, training, and resource allocation to effectively manage the varying demands of REO properties
Ensure all departmental activities maintain strict adherence to federal, state, and local regulations, including applicable knowledge of Fannie Mae, Freddie Mac, and MI servicing guidelines and requirements
Ensure teams and staff receive training specific to REO management and marketing and default management, including role-specific compliance training modules addressing function-specific regulatory requirements
Develop and maintain robust internal controls for REO management and marketing activities
Implement quality assurance programs to monitor quality and compliance for the REO function
Qualification
Required
Degree in Finance, Economics, Business Administration, or related field
Minimum of 7 years of progressive experience in mortgage servicing or related field, with at least 3 years in Default Management, specifically focused on REO and eviction processes and/or related legal/compliance/real estate practice
Understanding of mortgage and consumer loan servicing operational systems and technologies. Experience preferred with systems including but not limited to ACES, ICE/MSP, ALS, NICE, Omilia, FDR, Default Manager, RDN, PACER/AACER and OnBase
Demonstrated expertise in federal and state consumer financial protection laws, including RESPA, TILA, FDCPA, Bankruptcy Code, SCRA, TCPA, UDAAP, FCRA, and NCUA/CFPB regulations as they apply to real estate
Knowledge of Fannie Mae, Freddie Mac, and MI servicing guidelines and requirements related to REO and default management
Understanding of default management processes, including knowledge and proficiency with state foreclosure and eviction laws
Related experience implementing data and technology solutions that enhance workflow efficiency, automate decision-making, and improve compliance controls
Success in managing REO operations activities during periods of high-volume
Ability to manage vendor relationships with service requirements specifically related to REO management and marketing, property preservation and law firms
Background in real estate asset management, property marketing, and disposition strategies
Ability to use data-driven insights to optimize workflow processes and resource allocation
Skills in property valuation, market analysis, and disposition strategy development, including analytical skills for cost-benefit analysis, ROI calculations, and recovery optimization for real estate assets
Support the implementing of technology enhancements that improve recovery rates, operational efficiency and compliance management in default management specific to REO operations
Ability to implement key performance indicators (KPIs) that drive business decisions and measure success including performance standards and accountability measures for department and all team members
Ability translating business objectives into actionable operational action plans
Ability making difficult decisions balancing operational needs, compliance requirements, and financial objectives
Ability to recruit, develop, and retain top talent in default management specific to REO
Mentorship skills and commitment to employee growth and development including identifying training needs and coordinating training priorities
Ability to manage through organizational change and transformation initiatives
Foster a positive, high-performance culture that emphasizes both results and employee engagement
Verbal and written communication skills across organizational levels
Ability to translate regulatory and operational concepts into clear communications
Negotiation skills with buyers, members, investors, insurers, regulators, and service providers
Preferred
Experience at a top-tier credit union, mortgage servicer or financial institution
Experience in creditor's rights, foreclosure, or real estate law firm
Knowledge of regional real estate markets
Real estate licenses (broker/appraiser) or Certified Asset Manager (CAM) certifications
Company
SECU
Even though we're North Carolina's largest credit union, we're still just "people helping people." We currently serve over 2.6 million members through more than 270 branch offices - and growing! Members have 24/7 access to account services from over 1,100 ATMs, as well as via phone, our website, and the SECU Mobile App.
5001-10000 employees
Funding
Current Stage
Late StageLeadership Team
Leigh Brady
President and CEO
Recent News
2025-10-23
State Employees' Credit Union (SECU)
2025-09-17
Company data provided by crunchbase