|This course is only for purchase through a corporate training agreement OR through the purchase of the Level II package of the Default Administration Residential Servicing Certificate Program.
This is a single-family/residential course series, a component of the Level II Residential Servicing Certificate Program.
Basics of Managing REOis designed for those involved in managing and selling corporate REO inventory. It can serve both the experienced REO administrator and novices entering the field.
This series provides an overview of the role and responsibilities of the REO team, as well as the details involved in boarding properties and preparing them for sale. This series also offers insights into all aspects of the REO management process, including the appraisal, marketing, sale, and rental of REO properties.
By the end of this series, the participant will be able to:
- Describe the evolution, parties, roles, responsibilities, and processes involved in the REO management process.
- Explain the processes involved in acquiring and boarding REO properties.
- Describe the various steps taken to prepare REO properties for sale.
- Compare various methods of selling and renting REO properties.
Course 1: Introduction to REO
- History of REO
- Role of REO in Investor and Servicer Portfolios
- The REO Process
- Vendor Management
- REO Today
Course 2: REO Acquisition and Boarding
- REO Acquisition
- REO Boarding
- Asset Assignment
Course 3: REO Pre-Marketing
- Pre-Marketing and Marketing Roles
- Third-Party Service Providers
- Role of the Real Estate Agent
- Property Preservation
- REO Performance Management and Reporting
Course 4: REO Marketing and Sale
- REO Marketing
- Offer to Purchase
- REO Rentals