John Palumbo

Expert proficient in Default Compliance and Underwriting, Asset Management, Loss

Mitigation, Asset Valuation, REO Management and Compliance Analyst. Township of Howell, NJ 07731

adnevb@r.postjobfree.com

732-***-****

• Twenty years' experience of managing million-dollar portfolios of defaulted loans from the inception of foreclosure/bankruptcy to the culmination of loan cure saving company hundreds of thousands of dollars by streamlining program 30%.

• Cultivated over 300 positive outcomes from delinquent loan portfolio including presenting loss mitigation measures to cure deficient accounts, preside in legal proceedings of contested, litigated and bankruptcy court hearings with local counsel utilizing knowledge of federal foreclosure and bankruptcy laws simplifying procedures for investor.

• Servicing portfolio of loans for major investors under servicing guidelines including FHLMC, FNMA and FHA also in compliance with the CFPB complaint regulations with no grievances past five years.

• Engineered and consolidated all foreclosure entities within the guidelines of the investor including weekly compliance reports, legal billing statements and all pertinent documentation required for maximum recording efficiency into one system.

• Initiated foreclosure packages for bidding instructions, bankruptcy plans, workout agreements and forbearance payment plan agreements with prior approval from investor nullifying expenditure for paralegal hire.

• Supervised Community Outreach managing staff of 20 for delinquent borrowers to counsel defaulted accounts back into corrective positions with a 70% success rate. Willing to relocate: Anywhere

Authorized to work in the US for any employer

Work Experience

Part-Time Real Estate Analyst Consultant

Navigant Guidehouse - Remote

March 2021 to Present

Greater New York City Area

• Performing as a Consultant providing staff level support to project teams both at client sites and internally.

• Assist with client management, solution implementation and generation of project results.

• Lead support for federal government client with real property portfolio optimization to help prioritize projects and streamline processes in alignment with various federal, department and agency requirements.

• Collect and analyze data, identify gaps and trends, and make recommendations related to baseline performance and structure, as well as established best practices and benchmarks.

• Conduct strategic portfolio planning, data analysis and portfolio reporting, analytical support, including cost-benefit impacts of alternatives, tracking planned versus actual impacts, and program management.

• Train staff from both an acquisition and a portfolio management perspective utilizing strong foundational knowledge of the client’s operating environment to effectively inform delivery strategy and work product and deliverable development.

• Collaborate with the internal support team as well as regularly engage with the client to discuss work products and priorities and demonstrate critical thinking skills to determine when to escalate risks and issues to leadership for quick resolution.

Senior Loss Mitigation Underwriter & Collections Bank Officer Valley National Bank - Wayne, NJ

August 2020 to Present

Greater New York City Area

• Partner with the other Default managers to ensure all daily strategies are executed for the Default Operations.

• Respond to and resolves escalated client issues.

• Monitor and manage team to ensure adherence to internal service levels related to the operations and processing time frames.

• Work with staff to develop and monitor individual and departmental goals, providing effective feedback and guidance on a regular basis.

• Develop and monitor staff planning forecasts with recruiting.

• Review key performance indicators for team and reviews pipeline management reports with senior management on a weekly basis.

• Review and updates department procedures in a timely manner to reflect all regulatory and compliance updates.

• Evaluate business processes and makes necessary changes to daily procedures

• Respond to internal and external audit findings by preparing formal responses and ensuring remediation of noted issues.

• Responsible for budget oversight of the department and manages department expenses ensuring that all controllable expenses are maintained within budget each month and all variances are understood and explained.

• Manage staff and administer work being completed in multiple locations.

• Review defaulted applications for completeness and data integrity while updating the data in both the servicing system and proprietary systems where applicable.

• Ensure Modification Loan quality standards are met with a maximum major deficiency percentage of

<1% on underwritten files.

• Work with internal and external partners to clear conditions in a timely manner

• Analyze and review documentation in file to verify accuracy of application and support underwriting decisions.

• Calculate income based on various types of income documents in the file, review and confirm assets in the file.

• Review and analyze preliminary title work, appraisals (when applicable), and review required Loss mitigation letters.

• Make loan decisions based on the overall repayment ability of the borrower and issue approval and denials based on your review.

• Communicate decisions to all parties involved and build relationships with both internal and external partners.

FNMA REO Asset Field Controller

Crown Field Services LLC - Brooklyn, NY

August 2019 to August 2020

Greater New York City Area

• Reviewed the dedicated Daily, Weekly or Monthly vendor reports in place to effectively monitor vendor production and adherence.

• Coached and led internal and vendor team players to successful levels of performance.

• Created and supervised the management of exception reports focusing on identification of process gaps, reducing timeline delays, ensuring expense management and reducing reputational risk.

• Served as an escalation point of contact for marketing strategy and sale approvals based on delegated authority.

• Partnered with internal and external business units to effectively manage off-market REO assets due to open litigation, title curative or troubled assets matters.

• Reviewed monthly test samples of REO services provided by outsource vendors confirming timelines, pricing and quality of service are in compliance with documented SOW's.

• Routinely reviewed high value assets to ensure marketing strategies are focused on maximizing sales price and reducing market time.

• Maintained successful Special Servicing relationships, which included timely delivery of monthly reporting, timely responses to asset level inquires and general account management functions.

• Assisted or Led department projects as needed.

FNMA REO Field Quality Assurance Advisor

Brookstone Management LLC - Township of Howell, NJ April 2019 to July 2019

Greater New York City Area

• Redesigned review work order assignments and schedules in database assigned by FNMA Equator to achieve maximum efficiency in completing pertinent established timelines ahead of schedule.

• Launched initial interior and exterior inspections of properties by documenting all details through pictures and electronic forms for investor in a straightforward procedure senior management can comprehend.

• Quality controlled active renovation projects by visiting the properties, reporting feedback on completion and quality of work to home office and submitting progress photos and written comments in database to the investor.

• Created, led, managed project schedules and scope of work, milestones, forecasts, and deadlines.

• Spearheaded and maintained working relationships with co-workers, in house construction staff, vendors and subcontractors to create an efficient regulatory process accommodating all parties consideration.

• Finalized all projects are handled professionally, timely, safely. REO Asset Referral Specialist

Weichert, Realtors - Morris Plains, NJ

November 2012 to June 2019

Greater New York City Area

• Carried out market, condition and value analysis of potential new assets to purchase at a discount. Coordinating and management of all REO valuation activities (BPOs, Appraisals, etc.).

• Evaluated new inventory and assess marketability by determining as-is or repaired strategies.

• Assisted in developing preferred agent and contractor networks in assigned territories.

• Coordinated and monitored the eviction process through our preferred attorney network and make cash for key recommendations based on state timeline and future holding costs. Securing properties, managing initial and ongoing property preservation, utilities, and tax/HOA payment approvals via REO listing agent/vendor.

• Tracked performance of assets from acquisition to disposition.

• Evaluated and reported any market trend data, changes in housing supply, repair delays, REO trend data, etc.

• Measured performance through execution/pre-determined KPI's and identify areas that need improvement.

• Attended weekly/monthly calls with servicers and vendors to ensure that process is working and portfolio is moving according to set timelines.

• Utilized exception reporting to identify assets that are off track and escalate as needed.

• Communicated high level findings or areas of concern to team management. Senior REO Valuation Analyst

World Business Lenders, LLC - Jersey City, NJ

September 2018 to October 2018

Grater New York City Area

• Authorized for the management of commercial and residential appraisals, BPO's, AVMs and internal QC review.

• Executed estimates of real property, all residential and commercial property types, on a nationwide basis for collateral review purposes, and formulates internal evaluation reports. Manage and review residential and commercial real estate valuations/appraisals and other related valuation reports for SVP.

• Mediated excellent judgment and independent decision making required for moderately complex issues utilizing knowledge of appraisal theory and understanding of the approaches to market value of real estate.

• Provided guidance to credit and operations staff regarding matters relating to real property intended to secure business loans originated by the Company.

• Promoted guidance to credit and operations staff regarding matters relating to non-real estate assets intended to secure business loans originated by the Company.

• Oversaw the timely completion of valuation reports and address valuation issues as they arise to support an expedited the credit approval process.

REO Asset Field Manager

Dakota Asset Management - Houston, TX

November 2017 to August 2018

Greater New York City Area

• Oversaw the real estate owned property from acquisition to receipt of funds from the sale.

• Ensured pre-marketing timelines are met in accordance with tasks specific to the Real Estate Owned process within the organization.

• Managed REO assets (Listings, Pre-marketing, Leases, Evictions, Offers and Closings).

• Reviewed old File Inventories Responsible for sending Offer Approvals to Senior Management/ Investors.

• Responsible for monthly reviews and recommends as pricing reductions as necessary and also approved LP and FMV prior to listings.

• Reviewed and Approves Bids and Delinquent Taxes.

• Assigned listing agents and closing offices.

• Maintained listing agents reviews addendums for signatures.

• Coordinated with eviction department for review and Offer Cash for Keys.

• Supervised and field inspected ongoing rehabilitation of REO assets including curing deferred maintenance and tenant occupancy needs.

• Evaluated market trends within the area of possible inventory of properties. Senior Foreclosure Legal Proceedings Specialist

Rushmore Loan Management Services LLC - Dallas, TX February 2014 to October 2017

Greater New York City Area

• Prioritizing events of a foreclosure case, specifically travelling domestically attending contested and uncontested foreclosure trials, mediation/settlement conferences and depositions representing bank as factual witness, reviewing legal documents and corresponding with attorneys, mediation referees, borrowers and court to ensure legal litigation and mediation requirements are met.

• Attended weekly managers meeting to discuss strategies to improve current business policies and procedures.

• Performed field inspections for non- performing high risk and real estate owned properties primarily includes one-on-one counseling session with borrower to discuss delinquency positions and help finalize financial workout packages submitted to the investor.

• Analyzed borrower's accounts to ascertain and initiate appropriate action including modification, short sale or deed in lieu options.

• Performed Short Sale Inspections includes contacting the listing agent to ensure proper procedures are met to show, market and price the inventory correctly.

• Assisted in repair evaluation with agent by gathering multiple bids to complete needed repairs.

• Supervised maintenance of REO assets including curing deferred maintenance and tenant occupancy needs.

• Evaluated market trends within the area of possible inventory of properties. Mortgage Portfolio Specialist II

Selene Finance LP - Horsham, PA

September 2013 to January 2014

Greater Philadelphia Area

• Managed a portion of an assigned portfolio of $200M loans within a team environment that are over 30 days delinquent with the responsibility to contact each customer to resolve their mortgage loan.

• Maintained proper execution of conducting outbound interviews to full portfolio with the ability to sort and focus on any given investor or pool.

• Reviewed inbound calls from customers in delinquent range and assigned portfolio.

• Implemented applications for collection of financial information from customers and analyzes for potential workout solutions offered within the policies and procedures.

• Processed terms of possible workouts, including dollar amounts to be paid by customers.

• Approved forbearance and repayment plans. Decisions customers general requirements for short sales, deeds in lieu, and other loss mitigation options.

• Surpassed monthly workout to portfolio ratio goals. Senior HELOC Loss Mitigation Negotiator

PHH Mortgage - Mount Laurel, NJ

July 2013 to September 2013

Greater Philadelphia Area

• Accountable for managing a portion of $400M portfolio of loans seeking assistance through loss mitigation workouts and work directly with investors, borrowers, real estate agents, closing agents and attorneys in an effort to mitigate losses to the company and investor while providing acceptable workout options to borrowers in financial distress.

• Provided default counseling to all borrowers seeking an alternative to foreclosure.

• Reviewed and underwrote financial Information including credit reports, financial statements, W-2's, tax returns and pay stubs to determine the borrower's ability to pay on the liability.

• Ordered and reviewed property valuations and updated title reports to determine lien position and equity in the home.

• Developed innovative workout options to assist in reducing organizational loss.

• Produced promissory notes as well as deficiency letters as directed by investors while filing accurate loss mitigation modification and special forbearance claims to Government Agencies.

• Coordinated closing document preparation with all parties for accepted short sale offers.

• Audited closed workout files to ensure necessary documents are included and Investor and Insurer approval terms were met.

Loss Mitigation Asset Manager

Bayview Loan Servicing, LLC - Fort Washington, PA

February 2013 to June 2013

Greater Philadelphia Area

• Managed for managing $200M portfolio of delinquent loans including servicing loan workouts and portfolio maintenance on non-performing mortgages.

• Conversed with borrowers to determine financial hardships and cure default utilizing loss mitigation options of forbearance, reinstatement, modification, deed in lieu, short sale, bankruptcy or foreclosure.

• Demanded and scrutinized financial documents to identify solutions to mitigate losses based on borrower eligibility within investor guidelines and time frames.

• Secured collateral and documented all property inspection results. Concluded value of defaulted asset inventory and formulate possible foreclosure bids based on upcoming sale dates.

• Serviced clients with a wide range of mortgage advisory services in support of M&A transactions or for ongoing portfolio management and instituted functional teams and infrastructure that drove Asset Management's proprietary investment process to clients.

• Performed advisory work which included engagements ranging from $200 million to over $50 billion in asset value, covering residential mortgage pools across the U.S.

• Traveled 50% to meet with investors, attorneys, realtors and contractors to prioritize events and finalize management objectives.

• Trained single or multiple REO Asset Coordinators as direct reports to the Asset Manager.

• Personnel responsibility included management, performance evaluation, and mentoring of REO Asset Coordinators.

Mortgage Quality Assurance Analyst III

Bank of America - Newark, NJ

2012 to 2013

Greater New York City Area

• Delivered Quality Assurance Reviews on $40B portfolio of foreclosed loans and assess whether or not they were processed in accordance with HAMP, Proprietary Modification or other applicable program guidelines and requirements.

• Scrutinized fully documented loan histories, imaged documents and information available from all sources to collectively determines if it validates the information to make the home retention and loss mitigation decisions.

• Defended all required process and procedures were followed; system of record notation, documentation available/imaged and appropriate borrower communication (verbal and written) was achieved in accordance to SD directives and Internal Operating Procedures.

• Evaluated NPV and DTI calculations in files for accuracy in their entirety and provide recommendations weather or not any errors, misrepresentations or other deficiencies that resulted in financial injury to the borrower or mortgagee.

• Negotiated loss mitigation options with borrower to cure defaulted accounts. Manager of Foreclosed/REO Assets

Fast Track Properties - Metuchen, NJ

2009 to 2012

Greater New York City Area

• Ordered and finalized $300M portfolio of Foreclosed and REO properties for company in various degrees; accelerated customer service quality via attorneys, lenders, management companies and realtors, authorized all documents and SLA's for government agencies and investors, surpassed payment system for inventory utilities, taxes, liens per assets manager.

• Controlled Broker Price Opinions for lender's when requested.

• Facilitated Court Mediation Hearings, Sheriff Evictions, Tenant Occupancy Appeals and Restoration Agreements. Booked Preservation Company workouts via bank deadlines.

• Valued inventory for Asset Manager via Equator database.

• Sustained knowledge of applicable laws regarding Foreclosure Process and Tenant Rights for State Of New Jersey. Also promoted and leased REO properties for realtor.

• System familiarity with Equator, LPS, Director and Black Knight. Manager of Real Estate Services

Absolute Enterprises - Aberdeen, NJ

1999 to 2008

Greater New York City Area

• Appointed Real Estate Appraiser's for Real Estate Servicing Company.

• Promoted company services of valuation reports and mortgage products for residential and commercial properties for mortgage companies, banks and financial institutions. Hired, managed and trained staff of Real Estate Specialists acting as independent contractors. Licensed Staff Appraiser

The Meers Group, Ltd - Monmouth Beach, NJ

1994 to 1999

Greater New York City Area

• Investigated, analyzed and formulated valuation reports for Banks and Tax Appeals Court.

• Executed site inspections with homeowners, realtors and tax assessors to determine stability of the interior and exterior of the property.

• Finalized Residential Appraisals and BPO's for various banks and mortgage companies for mortgage lending purposes.

Trust Specialist II

First Fidelity Bank - Newark, NJ

1987 to 1993

Greater New York City Area

• Supervised Trust Accounts for Wealth Management Customers and perfected FTI Banking System to enhance transaction reporting to National Trust Operations.

• Maintained communications pipeline with existing customers to provide superior service in generating new business.

• Serviced request for all governmental regulators during bank audits.

• Completed new projects for senior management as directed. Education

College Degree in Real Estate Taxation

Rutgers Business School - New Brunswick, NJ

2003 to 2004

College Degree in Real Estate Asset Valuation

NYU Stern School of Business - New York, NY

2002 to 2003

Bachelor of Arts in Business Management

University of Hartford - West Hartford, CT

1982 to 1986

Skills

• Modify Defaulted Loans.

Capital Markets

Financial Analysis

• Portfolio Management

• Fair Housing Regulations

• Property Management

• Credit Analysis

• Tax Experience

• Property Leasing

• Underwriting

• Budgeting

• Pricing

• Microsoft Excel

• Microsoft Project

• Microsoft Office

• B2B

• Office Management

• Management

• Expense Management

• Negotiation

• Asset Management

• Windows

• QuickBooks

• GAAP

• Sales Pipeline

• Accounting

• Restoration Industry Experience

• Journal Entries

• Account Reconciliation

• General Ledger Accounting

• Internal Audits

• Forecasting

• Accounts Receivable

• Financial Report Writing

• Accounts Payable

• Tableau

• Event Planning

• Profit & Loss

• Bank Reconciliation

• Microsoft Dynamics GP

• SOX

• Business Analysis

• SAP

Links

https://www.linkedin.com/in/johnpalumbo49

https://www.linkedin.com/in/johnpalumbo49?jobid=1234&lipi=urn%3Ali%3Apage

%3Ad_jobs_easyapply_pdfgenresume%3B%2BDb6zimJRdGZJvpUlCRuTQ%3D%3D&licu=urn%3Ali

%3Acontrol%3Ad_jobs_easyapply_pdfgenresume-v02_profile Certifications and Licenses

A valid CPA CMA or other related accounting designation Real Estate License

Paralegal Certificate

Real Estate Broker

Assessments

Work style: Reliability — Highly Proficient

March 2019

Measures a candidate's tendency to be dependable and come to work. Full results: Highly Proficient

Analyzing data — Proficient

May 2021

Interpreting and producing graphs, identifying trends, and drawing justifiable conclusions from data Full results: Proficient

Work motivation — Expert

May 2021

Level of motivation and discipline applied toward work Full results: Expert

Real estate — Highly Proficient

March 2021

Matching listings with specifications

Full results: Highly Proficient

Verbal communication — Proficient

December 2020

Speaking clearly, correctly, and concisely

Full results: Proficient

Sales skills — Familiar

December 2020

Influencing and negotiating with customers

Full results: Familiar

Management fit — Completed

May 2021

Measures the traits that are important for success in management positions Full results: Completed

Management & leadership skills: Impact & influence — Completed May 2021

Choosing the most effective strategy to inspire and influence others to meet business objectives Full results: Completed

Indeed Assessments provides skills tests that are not indicative of a license or certification, or continued development in any professional field.

Contact this candidate