Fifth Third Bank Default Valuations Specialist II in Cincinnati, Ohio

JOB DESCRIPTION:

Fifth Third Bank is one of the top-performing banks in the country, with a heritage that spans more than 150 years. We've staked our claim on looking at things differently to making banking a Fifth Third Better. This applies to our relationships with customers and employees alike.

We employ about 18,000 people, and what we offer is:

# A chance for employees to build their future, with supportive career development and financial wellness programs.

# An environment where we win together. We celebrate achievement and work collaboratively. We're also a three-time Gallup Great Workplace honoree.

# An invitation to impact lives in a positive and lasting way. Everything we do is geared toward improving lives. That's fun and exciting.

It comes down to the fact that Fifth Third is a warm and caring place to with which to grow # as a customer or as a team member.

Mortgage Banking at Fifth Third Bank encompasses three sales channels # Retail, Direct and Correspondent. It also includes the operations side, with three major Fulfillment Centers in Cincinnati, Ohio; Grand Rapids, Michigan; and Chicago, Illinois. We offer many different mortgage loan options, and our customers look to us when they are thinking about buying a new home, building their dream home, refinancing their existing home, or exploring options for downsizing. Additionally, the Fifth Third partners with the Community College Foundation to bring the Financial Empowerment eBus to our communities. This bus is retrofitted as a mobile classroom that hits the streets to provide financial education on important topics including homeownership. We also play a key role in supporting homeownership by offering refinancing and modification opportunities.

GENERAL FUNCTION: Under moderate supervision in a fast paced environment, the analyst reviews a Brokers Price Opinion (BPO) of real estate used to secure Mortgage, Installment, and Line of Credit loans that are now delinquent. Using the BPO and other valuation tools to determine a value of the asset, the analyst recommends the appropriate write down (charge off) to meet FFIEC regulatory guidelines. The analyst will also make legal recommendations for the collection or recovery of the delinquent loan. All Foreclosure, Monetary Judgment, and Release of Asset actions must follow Departmental, investor and legal guidelines with management approval. All real estate secured loans are worked as needed, and delinquencies range from 0 # 180+ days# delinquent. Analysts will be responsible for working across departmental lines with Foreclosure, Bankruptcy, Loss Mitigation and others as needed to meet the expectation of the Default Collections group.

Responsible and accountable for risk by openly exchanging ideas and opinions, elevating concerns, and personally following policies and procedures as defined. Accountable for always doing the right thing for customers and colleagues, and ensures that actions and behaviors drive a positive customer experience. While operating within the Bank#s risk appetite, achieves results by consistently identifying, assessing, managing, monitoring, and reporting risks of all types.

ESSENTIAL DUTIES & RESPONSIBILITIES:

  • Orders and reviews Brokers Price Opinions (BPO) and/or Appraisals to evaluate data provided to determine fair market values of collateral. This information may be used to meet FFIEC guidelines, make legal recommendations or for the benefit of other departments.

  • Review Origination Files for loan documents needed to make an accurate valuation and legal recommendation

  • Conduct research and access credit bureau information to determine balances and lien position.

  • Order Title Searches as needed on Real Estate loans and obtain results to determine the Bank#s current lien position.

  • Provide extensive loss analysis regarding the loan once the current value of collateral is obtained with recommendations to management for the next course of action on the loan.

  • Record all completed tasks via the collection systems (MortgageServ, NERD, CACS).

  • Resolves routine problems escalating only complex calls and/or problem accounts to the supervisor.

  • Acts as a liaison between default and other branches of bank servicing.

  • Successfully completes assigned projects using business-related applications and Microsoft office tools as needed.

  • Work with Vendors to maintain the highest quality product and notify management of any deficiencies in the vendor product or response.

SUPERVISORY RESPONSIBILITIES: None.

MINIMUM KNOWLEDGE, SKILLS AND ABILITIES REQUIRED:

  • High school diploma or equivalent.

  • Minimum two years mortgage servicing/processing or the equivalent education/experience.

  • Excellent oral and written communication skills.

  • Strong attention to detail.

  • Good mathematical skills with the ability to analyze statistical data and make recommendations for decisions to management.

  • Strong knowledge of the PC#s, Microsoft Office, and internet functions.

  • Working knowledge of Mortgage Origination files or Real Estate helpful.

Fifth Third Bank is proud to have an engaged and inclusive culture and to promote and ensure equal employment opportunity in all employment decisions regardless of race, color, gender, national origin, religion, age, disability, sexual orientation, gender identity, military status, veteran status or any other legally protected status.