REO Portfolio Manager - Mortgage Insurance

Job Summary

The REO Portfolio Manager - Mortgage Insurance position at Essent Group Ltd. is seeking a motivated and experienced professional to manage Essent’s Real Estate Owned (REO) portfolio. This role involves overseeing the daily operations and strategic management of the portfolio, managing relationships with third-party vendors, conducting property valuations, assessing property conditions, and developing and executing efficient processes.

Responsibilities

• Oversee the daily operations and strategic management of Essent’s REO portfolio to ensure alignment with investment goals.
• Manage the process of buying REO properties from investors and selling them through various channels, including retail and iBuyers.
• Manage relationships, negotiations, contracting, and SLAs with third-party vendors and ensure timely closings.
• Order and review property valuations and reconcile the value by analyzing and comparing data from multiple valuation sources to arrive at the most accurate and defensible value.
• Assess inspections of REO properties to assess their condition and identify necessary repairs.
• Develop plans, leveraging third parties where applicable, to implement and manage REO repairs meeting quality standards and timelines.
• Design and execute efficient, scalable, and technology-driven processes to optimize REO handling.
• Develop and maintain productive relationships with industry constituents including iBuyers, real estate networks, valuation authorities, Essent Title, and REO service providers, as needed.
• Establish and monitor Key Performance Indicators (KPIs) and Key Risk Indicators (KRIs) to measure effectiveness and risk exposure of the REO program.
• Develop and manage the REO dashboard within Power BI for pipeline management and performance, executive reporting, and organizational communication.
• Conduct detailed financial analysis and due diligence on properties within Investor auction cycles to identify and assess feasibility of purchase opportunities.
• Prepare detailed reporting and analysis on REO properties including conditions, repairs, valuations, and forecasted outcomes.
• Monitor market trends and provide insights to inform property valuation and marketing strategies.
• Proactively identify and mitigate potential process and loss risks.
• Partner with Risk, Legal, and Finance teams to assess property values, mitigate risks, and ensure compliance with all regulations.

Requirements

• Minimum Education & Experience Requirements:
• Bachelor’s degree in Finance, Real Estate, Business, or a related field.
• 5+ years of experience in real estate, mortgage servicing, loss mitigation, or a related field.
• Proven experience in managing REO properties.
• Strong understanding of the real estate transaction lifecycle, from acquisition to disposition.
• Experience with real estate valuation and financial modeling.
• Familiarity with the Freddie Mac auction process is a plus.
• Excellent negotiation and communication skills.
• Ability to work independently and collaboratively in a fast-paced environment.
• Experience in a tech-forward environment with proven ability to implement process and technology improvements.
• 100% compliance with all applicable policies and regulations.
• Achievement of operational efficiency and loss reduction targets.
• Timely and effective communication of key insights and decisions.

Qualifications

• Minimum Education & Experience Requirements:
• Bachelor’s degree in Finance, Real Estate, Business, or a related field.
• 5+ years of experience in real estate, mortgage servicing, loss mitigation, or a related field.
• Proven experience in managing REO properties.
• Strong understanding of the real estate transaction lifecycle, from acquisition to disposition.
• Experience with real estate valuation and financial modeling.
• Familiarity with the Freddie Mac auction process is a plus.
• Excellent negotiation and communication skills.
• Ability to work independently and collaboratively in a fast-paced environment.
• Experience in a tech-forward environment with proven ability to implement process and technology improvements.
• 100% compliance with all applicable policies and regulations.
• Achievement of operational efficiency and loss reduction targets.
• Timely and effective communication of key insights and decisions.

Benefits

Essent offers a competitive salary and comprehensive benefits package including paid time off, medical, dental, vision, 401(k), and disability benefits. The company also strives to maintain a positive environment for its employees, fostering growth and development within the organization.

About the Company

Essent Group Ltd. (NYSE: ESNT) is a Bermuda-based holding company (collectively with its subsidiaries, "Essent") which serves the housing finance industry by offering private mortgage insurance, reinsurance, risk management products, and title insurance and settlement services to mortgage lenders, borrowers, and investors to support homeownership. Essent is focused on managing risk and committed to serving as a strong and fair counterparty in the mortgage insurance industry.