Senior Asset Manager, Commercial Special Servicing

Accountabilities:

• Review performing loan reports to identify commercial loans showing signs of potential default and emerging credit risk.
• Initiate contact with defaulted commercial borrowers within established service-level expectations to understand the cause of default and determine potential resolution strategies.
• Assess borrower financial conditions, property operations, property conditions, credit reports, asset searches, and other relevant information.
• Review commercial loan documents to identify borrower requirements, lender remedies, covenants, and applicable enforcement rights.
• Review servicing agreements to determine servicer responsibilities, authorities, obligations, and deadlines.
• Prepare and verify calculations supporting legal demands and other recovery activities.
• Negotiate borrower workouts within established lender and client parameters and structure appropriate loan modifications and forbearance agreements.
• Evaluate property valuation reports, market information, appraisals, broker opinions, and inspection findings.
• Conduct or review collateral property inspections and assess operating and physical conditions.
• Prepare formal business plans detailing default circumstances, enforcement options, alternative strategies, net present value considerations, and servicing recommendations.
• Develop projections for asset dispositions, including anticipated recoveries, losses, costs, and timelines.
• Direct and monitor third-party vendors, including attorneys, inspectors, appraisers, property managers, investigators, receivers, brokers, contractors, title agents, and insurance adjusters.
• Provide instructions for required posting, disbursement, and other asset-related transactions.
• Maintain accurate and timely status reporting across all assigned assets, including qualitative updates at least monthly.
• Update formal business plans as circumstances change and at least every 180 days.
• Administer defaulted loan sales and complex REO activities, including property manager and broker oversight, property assessments, budgeting, and disposition strategies.
• Monitor the performance of subservicers and asset management contractors.
• Support Commercial Primary Servicing representatives with borrower outreach, market analysis, property analysis, and investor inquiries.
• Anticipate operational and client-impacting issues, recommend solutions, and provide appropriate instructions to other departments.
• Maintain compliance with applicable training, audit, reporting, and servicing requirements.
• Serve as a subject matter expert and mentor junior team members, including contributing to training initiatives and delivering training when appropriate.
• Work toward maximizing recoveries for lender clients while meeting established servicing standards and deadlines.

Requirements:

• Minimum of 7 years of experience managing defaulted commercial business-purpose loans secured by commercial-use, mixed-use, SFR/multifamily rental, and/or SFR/multifamily transitional properties.
• Strong knowledge of lender default remedies and enforcement strategies, including foreclosure, trustee sales, receivership, UCC sales, and bankruptcy strategies.
• Strong understanding of loan covenants, covenant compliance, commercial loan documentation, and servicing agreements.
• Strong knowledge of commercial real estate income property fundamentals, including property operations, income analysis, and borrower financial analysis.
• Prior underwriting experience with commercial business-purpose loans secured by multifamily, mixed-use, commercial-use, SFR investor rental, and/or SFR/multifamily construction or transitional properties.
• Prior experience managing rental properties or multifamily apartment and SFR portfolios is preferred.
• Strong understanding of commercial loan servicing principles and practices.
• Superior written and verbal communication skills, with the ability to communicate effectively with borrowers, investors, attorneys, vendors, and internal stakeholders.
• Superior negotiation skills and the ability to develop practical workout and resolution strategies.
• Strong problem-solving and decision-making abilities, particularly when managing complex and time-sensitive assets.
• Demonstrated ability to work independently with minimal supervision while exercising sound judgment.
• Strong organizational skills and attention to detail, with the ability to maintain accurate reporting and documentation.
• Ability to work under pressure, meet deadlines, manage multiple assets, and adapt to changing priorities.
• Strong teamwork and collaboration skills across multiple departments and stakeholder groups.
• Proficiency with Microsoft 365, Adobe applications, and commercial loan servicing platforms such as REALSynergy, Strategy, Enterprise, or comparable systems.
• Ability to meet applicable background screening requirements and any client-specific or federal/state licensing requirements, where applicable.
• Willingness and availability to travel occasionally, approximately 5%–25%.

Benefits:

• Expected annual salary range of $90,000–$110,000, depending on geographic location, experience, and other qualifications.
• Eligibility for performance-based bonus compensation, subject to applicable plans.
• Opportunity to manage a diverse portfolio of complex commercial and business-purpose real estate assets.
• Exposure to commercial real estate workouts, enforcement strategies, restructuring, REO, loan sales, and asset disposition.
• Collaboration with borrowers, investors, legal counsel, brokers, property managers, appraisers, and other specialized professionals.
• Opportunity to serve as a subject matter expert and mentor junior team members.
• Role involving meaningful responsibility for recovery strategy and lender client outcomes.
• Professional development through required annual training and opportunities to contribute to training initiatives.
• Occasional travel of approximately 5%–25%.