Senior Asset Manager, Commercial Special Servicing

This is a fully remote position, open to applicants in United States.

📋 Description

• Manage loss mitigation, remedy enforcement, and liquidation activities for a designated portfolio of non-performing commercial/business purpose mortgage loans across diverse geographic locations.

• Engage directly with commercial borrowers to determine the causes of default and develop resolution strategies.

• Evaluate borrowers' financial circumstances, property operations, market trends, and collateral conditions.

• Analyze borrower and individual credit reports, conduct asset searches, and review loan documentation and servicing agreements.

• Prepare and confirm calculations for legal demands.

• Negotiate workout solutions for borrowers within the acceptable parameters set by the lender-client.

• Structure modifications to loans and forbearance agreements.

• Examine property valuation reports and conduct or oversee inspections of collateral properties.

• Draft comprehensive business plans addressing default reasons, enforcement alternatives, strategic options, servicer recommendations, and net present value assessments.

• Oversee and coordinate third-party vendors, including attorneys, inspectors, appraisers, property managers, investigators, receivers, brokers, contractors, title agents, and insurance adjusters.

• Prepare asset disposition forecasts, detailing recovery amounts, anticipated losses, and timelines.

• Provide clear instructions for posting and disbursement transactions.

• Maintain precise asset status reports and offer qualitative written status updates.

• Assist Commercial Primary Servicing representatives with borrower outreach, property and market assessments, and investor inquiries.

• Adhere to Company training, compliance, audit, and reporting protocols.

• Identify operational challenges and propose effective solutions.

• Manage sales of defaulted loans and complex REO operations.

• Supervise subservicers and asset management contractors.

• Act as a subject matter expert and provide mentorship to junior team members.

• Establish contact with borrowers within 5 business days following transfer to special servicing.

• Complete formal business plans within 45 days of transfer and ensure updates at least every 180 days.

• Optimize recovery efforts for lender clients.

• Fulfill a minimum of 40 hours of annual Company training and actively contribute to training initiatives.

⛳️ Requirements

• At least 7 years of experience managing defaulted commercial business purpose loans secured by commercial, mixed-use, SFR/multifamily rental, and/or SFR/multifamily transitional properties.

• In-depth knowledge of lender default remedies and enforcement strategies, including foreclosure, trustee sales, receivership, UCC sales, and bankruptcy approaches.

• Strong comprehension of loan covenants and compliance with those covenants.

• Profound understanding of CRE income property fundamentals, income property operations analysis, and borrower financial analysis.

• Extensive knowledge of commercial real estate loan documentation.

• Excellent verbal and written communication abilities.

• Exceptional negotiation skills.

• Capacity to work independently with minimal oversight.

• Strong problem-solving and decision-making capabilities.

• Ability to adhere to detailed reporting requirements.

• Proficient at working under pressure, meeting deadlines, and adapting to shifting priorities.

• Proficiency in Microsoft 365 Suite and Adobe applications.

• Experience with commercial loan servicing software such as REALSynergy, Strategy, and Enterprise.

• Strong teamwork skills for collaboration with colleagues across various departments.

• Previous underwriting experience for commercial business purpose loans secured by multifamily, mixed-use, commercial use, SFR investor rental, and/or SFR/MFR construction/residential transition properties.

• Prior rental property management experience with multifamily apartment or SFR portfolios.

• Familiarity with commercial loan servicing agreements and principles.

• Willingness to travel occasionally, approximately 5%–25% of the time.

• Must successfully pass the Company’s Background Screening process prior to starting employment.

• May need to satisfy client-specific background check criteria or Federal/State licensing requirements, if applicable.

🏝️ Benefits

• Eligibility for performance-based bonuses.

• Coverage for medical, dental, and vision needs.

• Up to 3% matching on 401(k) contributions.

• Generous paid time off policies.

• Company-paid life, accident, and disability insurance.

• Programs supporting mental, physical, and financial wellness.

• Reasonable accommodations for disabilities or special needs.