Special Servicing Asset Manager

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

📋 Description

• Oversee loss mitigation, remedy enforcement, and liquidation responsibilities for a designated portfolio of geographically varied, non-performing commercial/business purpose mortgage loans.

• Engage with defaulted commercial loan borrowers to identify reasons for default and formulate resolution strategies.

• Evaluate borrowers' financial positions, property operations, and property conditions.

• Analyze business and personal credit reports, asset searches, loan documents, and servicing agreements.

• Prepare and validate calculations for legal demands.

• Negotiate borrower workouts within the parameters set by lender-clients.

• Structure terms for loan modifications and forbearance agreements.

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

• Develop comprehensive business plans addressing default reasons, enforcement options, alternative strategies, and servicer recommendations based on net present value analysis.

• Direct and oversee third-party vendors, including legal counsel, inspectors, appraisers, property managers, investigators, receivers, brokers, contractors, title agents, and insurance adjusters.

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

• Provide directives for posting and disbursement transactions.

• Maintain precise status reports on assigned assets.

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

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

• Identify operational challenges and propose solutions.

• Manage defaulted loan sales.

• Administer complex REO activities, which involve directing property managers and brokers, assessing property conditions, and preparing or reviewing budgets.

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

• Finalize formal business plans within 45 days of transfer.

• Provide monthly written qualitative status updates and revise formal business plans at least every 180 days.

• Set expectations for third-party vendors and offer departmental instructions in line with servicing standards.

• Maximize recovery for lender clients.

• Complete a minimum of 40 hours of annual Company training.

• Fulfill other assigned tasks and responsibilities.

⛳️ Requirements

• At least 5 years of experience managing defaulted commercial business purpose loans secured by commercial, mixed-use, SFR/multifamily rental, and/or SFR/multifamily transitional properties.

• Comprehensive understanding of lender default remedies and enforcement strategies, including foreclosure, trustee sales, receivership, UCC sales, and bankruptcy strategies.

• Strong grasp of loan covenants and covenant compliance.

• In-depth understanding of CRE income property fundamentals, including income property operations analysis and borrower financial analysis.

• Solid knowledge of commercial real estate loan documentation.

• Excellent verbal and written communication skills.

• Strong negotiation abilities.

• Capability to work independently with minimal supervision.

• Robust problem-solving and decision-making skills.

• Ability to adhere to detailed reporting requirements.

• Capacity to work under pressure, meet deadlines, and adapt to changing priorities.

• Proficient in Microsoft 365 Suite, Adobe applications, and commercial loan servicing software such as REALSynergy, Strategy, and Enterprise.

• Team-oriented skills to collaborate with colleagues across multiple departments.

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

• Prior experience in rental property management.

• Availability for occasional travel ranging from 5% to 25%.

• Must successfully complete the Company’s Background Screening process prior to commencing employment.

• May be required to pass client-specific background checks or Federal/State licensing requirements, if applicable.

🏝️ Benefits

• Performance-based bonus, subject to applicable plan terms.

• Medical, dental, and vision coverage.

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

• Generous paid time off.

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

• Programs for mental, physical, and financial wellness.

• Remote work arrangement.