[Hiring] Senior Asset Manager @Onity

Role Description

The Commercial Special Servicing Senior Asset Manager administers the loss mitigation, remedy enforcement and liquidation tasks for an assigned portfolio of geographically diverse, non-performing, commercial/business purpose mortgage loans secured by investor owned commercial use, mixed use, SFR/multifamily rental and/or SFR/multifamily transitional properties.

The role duties include:

• Direct commercial borrower contact
• Assessing enforcement activities permitted under the loan documents
• Evaluating collateral property operations and conditions
• Assessing market conditions
• Negotiating commercial borrower workouts
• Directing enforcement and property vendors, including legal counsel, property managers, brokers, inspectors, etc.
• Preparing formal business plans and status reports to investors

The position may also support Primary Commercial Servicing representatives with property and/or market analysis, borrower interaction, and investor inquiries, as appropriate.

Qualifications

• Minimum 7 years’ experience managing defaulted commercial business purpose loans secured by commercial use, mixed use, SFR/multifamily rental and/or SFR/multifamily transitional properties
• Strong understanding of lender default remedies and enforcement strategies, including foreclosure, trustee sales, receivership, UCC sales, bankruptcy strategies, etc.
• Strong understanding of loan covenants and covenant compliance
• Strong understanding of CRE income property type fundamentals, including income property operations analysis, and borrower financial analysis
• Strong understanding of commercial real estate loan documentation
• Superior communication skills, both verbal and written
• Superior negotiation skills
• Demonstrated ability to work independently with minimal supervision
• Superior problem solving and decision making skills
• Demonstrated ability to comply with detailed reporting requirements
• Demonstrated ability to work under pressure, meet deadlines and adjust to changing priorities
• Demonstrated skills with Microsoft 365 Suite, Adobe applications, commercial loan servicing applications (such as REALSynergy, Strategy, Enterprise, etc.)
• Strong teamwork skills to collaborate with associates in multiple departments
• Prior 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 experience with rental property management for multifamily apartment or SFR portfolios
• Understanding of commercial loan servicing agreements and principles
• Be available to occasional travel 5%-25%

Requirements

• Must pass the Company’s Background Screening process prior to beginning employment
• May be required to pass client-specific background check requirements or Federal/State licensing requirements, if applicable

Benefits

• Comprehensive benefits package including medical, dental and vision
• Up to 3% match on 401(k) contributions
• Generous paid time off
• Company-paid life, accident and disability coverage
• Programs for mental, physical and financial wellness
• Bonus based on performance, subject to the terms of the Company’s applicable plans

Company Description

Onity Group Inc. is a leading non-bank financial services company providing mortgage servicing and originations solutions through its subsidiary, Onity Mortgage, formerly known as PHH Mortgage. Onity Mortgage is one of the largest servicers in the country, focused on delivering a variety of servicing and lending programs to customers, clients and investors.

At Onity, we strive to earn our customers’ loyalty every day by:

• Consistently delivering exceptional service
• Building trust through reliability, integrity, and following through on our commitments
• Understanding the importance of homeownership
• Fostering long-term relationships, ensuring our customers feel valued and supported

We expect all employees to interact with and engage our colleagues and our customers with respect, courtesy and professionalism, and to achieve results consistent with our service delivery standards.

Onity is intensely focused on hiring, developing and retaining the best talent in the industry. Our commitment to inclusion and equal opportunity ensures that we sustain our reputation as an outstanding place to work, a great business partner and a valued community member.