REO Specialist

About this position

About this opportunity

The REO Specialist is responsible for the day-to-day management and disposition of Real Estate Owned (REO) properties acquired through foreclosure or deed-in-lieu on loans serviced by the Company. This position manages a portfolio of conventional and non-QM REO assets from acquisition through final sale and post-closing reconciliation, ensuring compliance with investor and securitization trust requirements, federal and state regulations, and Company policies and procedures.

The REO Specialist performs title and ownership verification, occupancy and eviction monitoring, property preservation oversight, valuation and pricing analysis, listing agent management, offer evaluation, closing coordination, and expense reconciliation. This role is hands-on and focused on protecting asset value, minimizing carrying costs and loss severity, and maximizing net recovery to the investor while ensuring all activity is documented accurately and completed timely.

Key Responsibilities

· REO Acquisition and Onboarding: Set up each newly acquired property in the REO report, update systems of record, confirm post-sale periods and liens with counsel, and verify the recorded COT/Deed vesting matches the investor or trust exactly.

· Occupancy, Eviction, and Cash for Keys: Monitor occupancy and support local counsel through PTFA- and SCRA-compliant evictions, coordinating move-out crews and negotiating Cash for Keys agreements within approved authority.

· Property Security and Preservation: Ensure vacant properties are promptly inspected, secured, and maintained in safe, marketable condition, approving routine services within delegated cost thresholds and escalating amounts above them.

· Compliance Review and Title Clearance: Identify and resolve code violations, liens, open permits, HOA issues, and title defects before repairs or listing, while keeping taxes, HOA dues, and utilities current.

· Valuation and Disposition Strategy: Analyze the BPO, CMA, and repair estimates to recommend a Repaired or As-Is Sale strategy and an approved list price that maximizes net recovery to the investor.

· Listing and Marketing Oversight: Verify listing readiness, execute listing agreements, monitor agent marketing activity, and review pricing, recommending adjustments or agent reassignment as needed.

· Offer Evaluation and Contract Management: Evaluate all offers against the investor's best interest and Company earnest money standards, obtaining management approval for all counteroffers and highest-and-best requests.

· Closing Coordination: Manage the closing from contract to funding by updating the systems of record, collecting seller documents, verifying names and ALTA seller debits, and enforcing wire-confirmation protocols.

· Post-Closing and Reconciliation: Process final utility reimbursements, reconcile all REO expenses, and maintain a complete property file per record retention requirements.

Location and Schedule

• This is a full-time, office-based position in a modern, cozy environment in our Troy, MI office.

• Our standard working hours are Monday to Friday, 9:00 AM to 6:00 PM.

Skills & Qualifications

Education

High School Diploma or GED required.

Associate's or Bachelor's Degree in Business, Finance, Real Estate, or a related field preferred.

Experience

· 2–4 years of REO, default servicing, foreclosure, asset management, or real estate transaction experience preferred.

· Experience reviewing BPOs, CMAs, appraisals, and repair bids.

· Experience managing listing agents, preservation vendors, and contractors.

· Familiarity with eviction processes, PTFA, and Cash for Keys programs.

What We Offer | Career and Culture

• Company Culture: Inclusive, supportive company culture where you are not a number, but a voice that's heard and brings value.

• Growth Path: Defined paid training and clear pathways for career development.

• Benefits: Comprehensive benefits package including PTO, sick days, paid volunteer hours, medical, dental, vision insurance, and 401(k).

  Take the first step towards a rewarding career in the mortgage industry with AD Mortgage.

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We are an equal opportunity employer and value diversity at our company. We do not discriminate on the basis of race, religion, color, national origin, sexual orientation, age, marital status, veteran status, or disability status.

We will ensure that individuals with disabilities are provided reasonable accommodation to participate in the job application or interview process, to perform crucial job functions, and to receive other benefits and privileges of employment. Please contact us to request accommodation.

Location and commute

Troy, MI 48098.

Plan your route with Google Maps. Travel times and transportation options vary; confirm the work location with the employer before commuting.

How to apply

Review the vacancy and complete the application on the employer or recruitment partner’s website. Requisition ID: WJ-3214502572.