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Default Asset Manager

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The responsibilities for the Default Ops Specialist include performing all the day-to-day activities related to the CWCOT (Claims w/o Conveyance of Title) process, assisting with SFLS (Single Family Loan Sales), and providing support to the REO, Charge-Off, and Best Execution department.

The primary roles within the CWCOT function include providing a correct 2 nd chance sale bid to our vendors at various auction houses, reviewing and executing purchase and sale contracts and returning them to the appropriate settlement closing agent. The position is also responsible for updating all system of records, and coordinating with the foreclosure claims department once a settlement has occurred and sale proceeds are received. The SFLS responsibilities include gathering all the required loan information to gather a pool of loans that are eligible to sell to HUD. The position will also coordinate with various departments required to make such a pool, including IT, Collateral Tracking, Property Preservation, Litigation, Bankruptcy and Servicing. May also include following up on past Sales to HUD if questions arise and information is required by the company that audits those sale loans.

  • Responsible for corresponding weekly FHA report to Vendors.
  • Review Sales Contracts and Settlement Agreements.
  • Processing of closing funds in system of record.
  • Scan all documents related to listing and sales to EDMS.
  • Work closely with vendor marketing.
  • Work closely with Foreclosure Claims Department.
  • Read and understand each individual contract.
  • Initial contact with IT department to discuss HUD contract and information required to make initial selection of population.
  • Review contract; put together a list of what is acceptable and what is not and code correctly.
  • Initiate audit of files that may be eligible updating list constantly possibly adding loans but more than likely
  • Removal of loans to keep the list current.
  • Review job aide, revise when necessary to make sure content is current and relevant.


  • Three (3) to five (5) years related experience in handling REO properties, filing of final insurance claims, reviewing listing agreements, sales contracts, HUD I Settlement Statements and/or training; or equivalent combination of education and experience.
  • Excellent organizational skills.
  • Attention to detail with a high level of accuracy.
  • Analytical and Problem Solving skills.
  • Excellent communication skills
  • Strong decision making skills
  • Ability to meet deadlines in a fast paced environment.
  • Strong team player.
  • Ability to manage time well and prioritize tasks
  • Microsoft Office experience and advanced Excel knowledge
  • Strong work and business ethics
  • Ability to effectively present information to management
  • Ability to read, analyze and interpret documents such as legal documents, policies and procedures and financial reports
  • Ability to effectively write reports and correspondence
  • Ability to define problems, collect data, establish facts and draw valid conclusions Proficient in computer skills and knowledge of word processing, spreadsheets, accounting, general ledgers, accounts receivable, accounts payable and e-mail internet software
    • Professional appearance and demeanor
    • Ability to work with minimal supervision
    • Must be able to handle high volumes in a fast paced environment
    • Ability to meet critical departmental and insurer/investor guidelines with accuracy and efficiency
    • Ability to build relationships with both internal and external clients/vendors