The document defines the duties of an Asset Specialist and Asset Manager. Asset Specialists are responsible for tasks like completing property reports, assigning brokers, and managing documentation. Asset Managers review emails, negotiate offers, approve listings, and ensure proper documentation and closing of deals. Both roles involve coordinating with brokers, ordering inspections, and managing files and documentation throughout the asset disposition process.

1. Defining the duties for Asset Specialist and Asset Manager

2. Asset Specialist Duties
 Completing the 1004 report from LPS.
 Assign Brokers.
 Creating and sending out required documents for brokers
and occupants including the SCRA “Know your rights
letter”.
 Receiving required broker document and place in file.
 Ordering BPO and appraised values.
 Reviewing and approving trash out within approval level.
 Working Queue on a daily basis
 Submitting reports to Manager by EOB on Fridays
(Premarketing queue, VNL and Occupied properties)

3. Asset Specialist Duties
 Completing the top portion of the PDP.
 Preparing listing package, printing and placing in file for Asset
manager to complete once approved.
 Place F/C Deed and broker’s documents in file
 Once Asset Manager sends out Listing Package the file is handed
back to Asset Specialist.
 Once signed Listing Agreement and MLS are received, place in
file and file in cabinets immediately.
 Preparing LPR’s once AM has submitted report via email to AS.
 Prepare check requests for invoices received from brokers.
 Reviewing emails.

4. Asset Specialist Duties
Shared duties to include, but not limited to the following:
 Requesting MMR’s from Brokers and uploading MMR’s to
LPS.
 Faxing, scanning and filing when time permits.

5. Asset Manager Duties
 Reviewing emails for preservation, title issues offers and bid
approvals.
 Work the marketing queue daily to complete and clear current
tasks including LPR’s, MMR’s and confirming scheduled
closings.
 Review values and complete the PDP, once approved fax or email
PDP to USDA.
 If there is a variance in values request AS to order a 3rd value.
 Once PDP is approved by USDA, complete listing task in LPS,
submit PDP approval and listing package to management for
approval.
 Send Listing package to Broker and handoff file to Asset
Specialist.

6. Asset Manager Duties
 Review and negotiate offers daily via email and upload
negotiated email to broker via LPS for tracking purposes.
 Confirm that Recorded FCL Deed is in the file and LPS
 Confirm all Broker documents are complete including Signed
Listing and MLS.
 Review Safeguard reports and valuations for disclosing material
defects.
 Once offer is negotiated, confirm all contract documents are
correct and complete including the closing instructions.
 Submit contract to USDA if required and to management for
approval and execution.

7. Asset Manager Duties
 Once contract has been executed, email contract and closing
package to Broker and or Auction company.
 AM to hold file if there are missing documents or additional
information is required.
 If executed contract is complete bring file to closing cabinet.
 Complete LPR’s from queue daily and forward a daily report to
AS to prepare LPR sheet for management approval.
 Once LPR is approved by management submit to AS to send to
broker via fax or email.
 When invoicing is received review for proper approvals and
forward or place in shared inbox for AS to prepare invoice cover
sheet.
 Complete reports as requested, including the monthly aged
reports.

8. Asset Manager Duties
Shared duties to include, but not limited to the following:
 Requesting MMR’s from Brokers and uploading MMR’s to
LPS.
 Faxing, scanning and filing is the AM’s responsibility,
however the AS can assist when time permits.