Jeramiah Townsend

Background

About Jeramiah Townsend

In my current role as REO Sales/Mortgage Servicing Officer, I have enacted and updated policies and procedures which directly contribute to our team cutting portfolio losses in half. I developed and implemented a new repair evaluation procedure, which impacted our organization mission by helping to put new homeowners into our REO homes while minimizing potential losses on the sale. In addition to developing policies, I have completed extensive research into our CLT and CLT REO sales programs, which has increased communication with the CLT’s while minimizing losses and negative affects to borrowers. Since joining the Portfolio Management Division, we have increased our due diligence and communication with our servicers while improving borrower satisfaction. I recently received a commendation from the Commissioner for these efforts. I am solely responsible for managing the Minnesota Housing REO portfolio including assigning agents, ordering valuations, submitting for all insurer approvals, closing document preparation (Warranty Deed, Seller Affidavit, etc.) HUD/ALTA approval, final file review and closeout. I also am the main point of contact and responsible for all servicer approval requests on modifications, short sales, Deed-in-Lieu’s, subordinations and other day to day servicer functions. I prepare and execute documents as necessary to complete the processes above.I am a management and marketing professional with extensive experience in sales, marketing, valuations, contract and escrow negotiations, rehab/repair evaluation, property management, title and closing. Over the past 12+ years I have personally managed and closed over 3,300 real estate transactions with a total value in excess of $400 million. I have managed and facilitated the sales of numerous high profile luxury properties with several having purchase prices in excess of $2 million. My extensive experience with these high value properties gives me the confidence to quickly assess and enact a strong valuation, marketing and repair plan which culminates in quick sales with higher than anticipated net returns. I thrive in any type of work environment from high pressure to self-managed and pride myself on finding innovative solutions to complex problems in order to maximize returns for investors and clients.