Manager Loss Mitigation

Jerome Banks

**** *. **** ***

Los Angeles, CA **056

Residence 323-***-****)

Mobile 323-***-****)

E-mail: ******.*******@*****.***

Extensive and varied experience thought a 20-year career. Managed a Loss

Mitigation staff of 15. Servicing Multi-Units 1-4, FHLMC, FNMA, Sub Prime,

Prime, HELOC and 2nd Trust Deed portfolio. Unique talents include ability

to assure internal and external customer satisfaction by communicating well

with all cross-functional interfaces. Particular expertise involves: REO

Asset Management, Loss Mitigation, Foreclosure, Bankruptcy and MI Claims.

Also FHLMC and FNMA Loss Mitigation Certified. Achieved Servicer FHLMC TIER

1 Rating. REO Field Agent.

PROFESSIONAL EXPERIENCE

JPM Chase / REO Field Agent 9/09 to 05/14

Los Angeles

. Monitor and report disposition of property inspections within Southern

California

. Property Preservation Companies, Code Enforcement Officers, and

Listing Agents.

. Effectively communicated the condition of the asset to ensure minimal

risk to the Bank.

. Exercise through knowledge of investor guidelines and requirements.

. Conducted meetings within the unit, including Power point and webinar

and other media.

. Special Projects: Military Warrior Donation Liaison.

NRT Realogy Coldwell Banker / REO Asset Manager 3/1/08 -

09/09

Los Angeles

. Asset Manager responsible for 230 properties from completed eviction

to close of escrow.

. Develop initial marketing strategy using all available data and as per

the client matrix. Approve and coordinate bids on recommended repairs

& improvements.

. Negotiate all offers on behalf of (and when necessary, in concert

with) each individual client.

. Monitor terms of approved contracts and help facilitate timely

closings.

. Assist in ad hoc projects as directed by Portfolio Manager.

. Review and revise market strategies as needed and as per client

matrix.

. Approved Property Preservation costs within approval guidelines.

OneUnited Bank / Loan Service Officer

6/1/07- 3/1/08

Los Angeles, CA

. Manage 270+ Million Commercial / Multifamily portfolio.

. Manage foreclosures, bankruptcies and REO in California and

Massachusetts.

. Assign and review loans for Internal Asset Review Committee.

. Coordinate release of holdback funds and restricted deposits,

contractors.

. Responsible for the review of property inspections, operating

statements, and DCR ratio analysis.

. Provide monthly and quarterly reports on Commercial / Multifamily

portfolio.

New Century Mortgage / Sr. Quality Control Analyst 10/1/06

- 3/1/07

Santa Ana, CA

. Performed audit reviews in the Loss Mitigation, REO and Pre-

Foreclosure, Call Center Unit.

. Documentation of audit findings. Identification of causes or

contributing factors relating to risk exposure.

. Providing recommendations to Senior Management, based on audit

findings.

Ameriquest Mortgage Company /

REO Asset Manager 1/ 2006 - 10/ 2006

Home Retention Supervisor 4/ 2004 - 1/ 2006

Orange, CA

. Reviews and executes applicable documents on files requiring

management level approvals.

. Create and implement approved marketing strategies for bank owned

properties.

. Work with all closing vendors to ensure timely escrow closings.

. Exercise a high level of understanding of Title and Mortgage Insurance

Claims.

. Coordinates various functions to expedite the marketing process and

liquidation

. Managed a 15-person unit in Default Responsibilities included monitor

and approve negotiated complex workout cases.

. Provide direction/training to Home Retention Specialist l, ll & Team

Leads.

IndyMac Bank

Pasadena, CA 2/

1999 - 4/ 2004

Loan Resolution Workout Supervisor: 11-2000 to April 2004

Sr. Loss Mitigation Specialist: 2-1999 to 10-2000

. Managed and Monitor Loss Mitigation activities.

. Approve Forbearance plans 12 to 18 months.

. Developed Loss Mitigation Training Models / Internal and External.

. Assisted in the Implementation of Loss Mitigation policy and

procedures for OTS approval.

. Implemented Deficiency Recovery Portfolio now in excess of

$600,000.00.

. Implemented Modification program designed to reduce capitol loss thru

restructuring debts.

EDUCATION

Bradley University, Peoria, IL:

Real Estate Principals (1998)

Appraisal Principals (1993)

Leadership Basics Management Training (2001)

SPECIAL PROJECTS

Facilitator of Loss Mitigation Round table events sponsored by Old Republic

Title

(RADIAN)

Edited Internal Loss Mitigation Policy and Procedures in compliance with

Internal audit

(FHLMC)

Involved in Loss Mitigation Training Module for lenders (FHLMC)

Determined action plan for deficient lender performance (FHLMC)

Provided training and technical support to Loss Mitigation staff

Achieved FHLMC Tier 1 rating. (Loss Mitigation) INDYMAC

Computer Skills

Word Perfect, Excel, and Alltel, DRI Asset analysis, Director Call

Monitoring,

MortgageServ, VISION, REOTrans, MSP, Power Point, Visio, Webinar

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