Home Path Financing & Renovation Financing by Fannie Mae

REO (Bank Owned) Broker| Distressed Property Expert

(By Jason Ian Hector, 02/17/2013) Bringing 7 years of investment and banking experience followed by 7 years of Real Estate Brokerage experience, I have a better understanding of the lenders perspective.  Asset managers get the same 5 Star level of service that clients receive along with timliness, attention to detail using the latest in internet marketing and technology.  Having worked for Citibank and City National Bank, I understand bank policies, protocol, segmentation, investment analysis, even the politics.  Service is extremely important so my goal is to provide excellent service by providing all the necessary assistance that asset managers need including:

1. Checking occupancy within 24 hours from assignment and reporting back.  Taking pictures and making an initial assessment of property to see if it is secure, occupied, if any hazardous conditions exist and if trash-out and / or board-up is needed.
2. If vacant, re-keying property with-in 24 hours done by my vendor or with property preservation company (Safeguard, Cyprexx or FAS).
3. If occupied, reporting occupants name(s), existence of lease, rental history, and if notice has been received.
4. Serving Occupant with applicable notices, taking pictures of notices posted.
5. Working with the attorneys as they start the eviction process and representing the lender during Sheriff Eviction.
6. Coordinate the eviction lock out and allowing the previous tenant access to remove belongings.
7. Taking pictures to inventory previous tenants personal items if left behind and moving and storing for the required time period.
8. Getting my hands dirty in assisting with the trash out, taking before and after pictures and working with vendors to secure the property with board-ups.
9. Turn utilities on in my name and posting appropriate notices on property (per lender guidelines).
10. Completing weekly lender required reports.
11. Obtain estimates from licensed tradespeople for repairs requested by lender.
12. Marketing of the property for sale using the latest in internet marketing to obtain maximum public exposure with the most reliable platforms being the MLS and my website www.jasonhector.com which has almost 1000 visitors per month. Internet marketing for the lender programs being offered like Fannie Mae's HomePath Mortgage.
13. Monitoring and updating Lender REO management systems as needed throughout the day (eg. Equator, RES.net) to ensure that all tasks are completed within the deadlines provided by the asset manager.
14. Making sure that Purchase Offers are complete and include a pre-approval letter from direct endorsement lender, proof of funds suffient to cover closing costs and reserves, and credit scores if requested.
15. Completing Broker Price Opinion (BPO), Monthly Marketing Reports (MMR) and checking the properties at least weekly for any signs of vandalism.