Senior Special Assets Loan Officer

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

📋 Description

• Oversee and manage a portfolio of non-performing, distressed, and high-risk Residential Transitional Loans as well as construction loans.

• Evaluate, manage, and resolve intricate special assets through borrower rehabilitation, loan modification, foreclosure, sale, liquidation, or other resolution strategies.

• Develop, implement, and enhance workout strategies based on borrower capacity, project status, collateral condition, market dynamics, legal considerations, and risk exposure.

• Lead reviews of problematic loans, identify emerging risks, assess collateral and exit viability, and determine resolution strategies.

• Assess workout alternatives and recommend loan modifications, extensions, interest reserve adjustments, collateral liquidation, legal action, receivership, foreclosure, deed-in-lieu, OREO disposition, guarantees, and other credit enhancements.

• Analyze and propose impairment reserves and charge-offs in compliance with GAAP, company policy, and regulatory guidance.

• Present workout recommendations, risk assessments, and resolution strategies to senior management and capital partners.

• Support and mentor junior Special Assets team members on loan analysis, workout strategies, negotiations, documentation, and resolution processes.

• Oversee OREO assets, including 4-6 unit residential properties under renovation or stabilization; coordinate valuations, property management, construction oversight, and dispositions.

• Evaluate collateral value, construction progress, loan documentation, borrower financials, guarantor strength, and project feasibility.

• Lead negotiations with borrowers, guarantors, attorneys, brokers, property managers, and other stakeholders.

• Maintain oversight of risk ratings, accrual status, Problem Loan Reports, and portfolio reporting.

• Monitor housing market conditions, construction costs, liquidity, interest rates, property values, and investor demand.

• Collaborate with Legal, Servicing, Production, Underwriting, Asset Management, and other internal teams.

• Identify portfolio trends and recommend risk mitigation strategies, process improvements, and performance enhancements to leadership.

• Exercise independent judgment on distressed credits and escalate significant risks and material strategy changes.

• Represent Special Assets in both internal and external meetings.

• Assist with strategic initiatives, departmental goals, processes, and best practices.

⛳️ Requirements

• 7+ years of experience in special assets, credit workouts, loan servicing, or asset management, with a strong emphasis on Residential Transitional Loans (RTL), construction loans, bridge loans, fix-and-flip lending, or relevant experience.

• Strong understanding of workout strategies, foreclosure processes, collateral liquidation, and OREO management for 4-6 unit residential properties.

• Comprehensive knowledge of GAAP impairment analysis, charge-offs, risk ratings, and accrual accounting related to residential credit.

• Advanced ability to analyze complex financial, operational, and market data to develop and recommend resolution strategies that maximize recovery and minimize risk and loss.

• Proven experience in leading and coordinating complex loan resolutions with legal counsel, servicers, brokers, investors, and internal credit and servicing teams.

• Excellent written and verbal communication skills with the capability to present recommendations to senior management and capital partners.

🏝️ Benefits

• Innovative environment with access to cutting-edge technology and resources.

• Flexible work environment.

• National impact through a nationwide construction financing operation.

• 100% employer-paid medical insurance premiums.

• PPO and HSA health insurance plans.

• Competitive wages.

• 3 weeks of paid time off annually.

• 10 paid holidays.