[Hiring] Special Servicing Asset Manager @Onity

Role Description

The Commercial Special Servicing 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
• Supporting Primary Commercial Servicing representatives with property and/or market analysis, borrower interaction, and investor inquiries, as appropriate

Qualifications

• Minimum 5 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
• Strong effective communication skills, both verbal and written
• Strong effective negotiation skills
• Demonstrated ability to work independently with minimal supervision
• Strong 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
• 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 and subject to the terms of the Company’s applicable plans