Special Assets Associate

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

📋 Description

• Oversee and manage a portfolio of non-performing and high-risk Residential Transitional Loans and construction loans, which includes pre-workout, downgraded, defaulted, and legally involved loans.

• Handle and resolve special assets through borrower rehabilitation, loan modification, foreclosure, sale, or liquidation.

• Formulate and implement workout strategies based on borrower capabilities, project status, collateral condition, and prevailing market dynamics.

• Assess problem loans, identify risks, evaluate collateral and exit viability, and propose resolution strategies.

• Review workout alternatives including modifications, extensions, interest reserve adjustments, liquidation, legal actions, receivership, foreclosure, deed-in-lieu, OREO disposition, and pursuing guaranty or credit enhancements.

• Compute and recommend impairment reserves and charge-offs in accordance with GAAP, company policy, and relevant regulatory guidelines.

• Suggest enhancements to policies and procedures regarding problem loans, impairment methodologies, and best practices for workouts.

• Manage OREO assets, encompassing 4-6 unit residential properties under renovation or stabilization; oversee valuations, property management, and asset dispositions.

• Assess collateral value, construction progress, loan documentation, borrower financials, and guarantor strength.

• Implement strategies to decrease non-performing assets while managing losses, carrying costs, market conditions, and administrative expenses.

• Present workout and exit strategies to management and capital partners.

• Maintain risk ratings, accrual status, and Problem Loan Reports for distressed loans.

• Track housing market trends, construction costs, liquidity conditions, and investor demand.

• Carry out additional responsibilities that support the Special Assets function and lending platform.

⛳️ Requirements

• 3-5 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 related experience.

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

• Strong expertise in GAAP impairment analysis, charge-offs, risk ratings, and accrual accounting associated with residential credit.

• Capacity to analyze data to identify the most effective resolution strategies.

• Established experience collaborating with legal counsel, servicers, brokers, investors, and internal credit teams to execute complex loan resolutions.

• Exceptional written and verbal communication abilities, with the skill to deliver clear, well-supported recommendations to senior management and capital partners.

🏝️ Benefits

• Innovative Environment: Join a forward-thinking company at the forefront of the construction finance industry with access to cutting-edge technology and resources.

• Work Flexibility: Enjoy a flexible work environment where you can balance team leadership with your personal life.

• National Impact: Be part of a nationwide operation that is shaping the future of construction financing and making a difference for builders, developers, and homeowners across the U.S.

• Health Insurance: Builders Capital pays 100% of your medical insurance premiums; PPO and HSA plans available.

• Competitive wages.

• 3 weeks of paid time off each year.

• 10 paid holidays throughout the year.