OREO and Portfolio Management Administrator

This Position is responsible for managing Real Estate Owned (OREO) properties and executing a range of critical processes related to foreclosures, receiverships, property management, liquidation, and financial compliance. This role requires collaboration with internal departments and external partners to ensure the effective oversight, transition, and disposition of foreclosed assets while maintaining compliance and operational efficiency.

Major Duties and Responsibilities:

Foreclosure and Pre-OREO Management Coordinate with foreclosure attorneys, Synergy, and DMI to compile accurate bid sheets for foreclosure auctions. Track and manage closing processes for properties sold at auction. Distribute weekly Scheduled Auction Reports. Schedule and coordinate property inspections as required. Manage the appointment and reporting processes of court-appointed receivers. Review monthly receivership reports including rental income collections, expense tracking and account balances, eviction statuses and non-paying tenant updates, bank advances and property condition assessments. Ensure compliance with all regulations, policies and procedures. Perform additional accountabilities as required.

OREO Process Oversight:

Collaborate with Loan Servicing and Accounting to transition foreclosed properties into OREO. Assist VP OREO to prepare property for marketing, select and manage real estate brokers and enter into agreements (with appropriate approval), for the marketing and disposition of properties. Order appraisals and broker price opinions. Evaluate property evaluation information. Conduct or coordinate regular property inspections and manage necessary maintenance or repairs. Assist VP OREO to Manage property, including supervising service providers to ensure properties are properly maintained and secure. Coordinate and file insurance claims where necessary. Process and monitor all contracts and sales; ensure timely closings through the coordination of the lender, broker and attorneys. Oversee timely payment of bills for various expenses associated with owning a property such as, monthly co-op maintenance and condo common charges, utility bills, repairs, and general maintenance. Reconcile management reports and retain records of disbursements (invoices/check requests) in appropriate files. Reconcile managing agent accounts post-disposition.

Regulatory Reporting & Compliance:

Coordinate issuance of 1099-C forms related to debt forgiveness or foreclosure activity. Review and process special escrow releases: verify borrower-submitted documentation against loan documents and agreements, prepare approval packages and execute fund releases. Process Line of Credit (LOC) advance requests: analyze borrower financials and verify positive cash flow, ensure compliance with DCR and underwriting standards, prepare and submit funding packages for approval and processing.

Internal Support & Special Projects: Support Portfolio Management in conducting annual loan reviews as needed. Participate in updating databases used for annual loan reviews. Assist in the coordination of ad hoc projects assigned by SVP, Team Leaders, or department management.

Minimum Qualifications:

Experience & Education Preferred

2 years of experience in banking, commercial real estate, or financial services. Exposure to loan servicing, property management, or foreclosure processes preferred.

Skills & Competencies:

Strong organizational and time management skills. Ability to work independently and manage multiple tasks. Excellent communication and interpersonal skills with both internal and external parties. Proficiency in Microsoft Office and banking/financial systems. General understanding of real estate principles, accounting, and operational compliance. Must own a vehicle for conducting property inspections (as needed) across the Tri-State area.

Pay Range: $62,000 - $70,000

Flushing Bank

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OREO and Portfolio Management Administra