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- Day to day management of assigned loans, REO and other assets to meet or exceed financial performance objectives and minimize risk of loss
- Negotiate resolution of troubled or non-performing loans with individual borrowers and sponsors
- Work on multiple loan and REO resolutions concurrently
- Analyze property level cash flows and rent rolls to estimate mark-to-market income and expenses and property valuation
- Review third-party reports including appraisals, property inspections, and environmental assessments
- Develop and evaluate all loan resolution alternatives on an NPV basis and recommend optimum resolution strategy for individual assets and document in an asset business plan
- Develop operating plans/budgets and recommend optimum liquidation strategy for individual REO assets and document in an asset business plan
- Obtain Investment Committee and servicing agreement approvals to execute loan or REO workout strategies
- Interview, select and oversee property managers upon obtaining title through foreclosure or other legal settlement options
- Interview, select and oversee brokers and negotiate property sales upon obtaining property through foreclosure or other legal settlement options
- Interview, select and oversee legal counsel as required, to pursue lender remedies and secure lender cash and real estate collateral
- Working with assigned Asset Analyst, ensure compliance with all requirements of the Servicing agreements, in connection with assigned loans or REO, as determined by the Compliance Manager
- Frequent interaction with clients to discuss asset strategies, special requests, and updates
- Decisions made daily in connection with the management and successful resolution of assigned loans and/or REO
- Escalates issues to Management as appropriate, with recommendations for problem loan/REO resolution
- Such other activities as assigned by the Director - Special Servicing and Management Qualifications/ Requirements:
- Bachelor's degree with a preferred field of study in Finance, Real Estate, Management or equivalent combination of education and experience
- Minimum eight (8) to ten (10) years real estate finance/loan workout-restructuring industry experience
- Thorough understanding of Special Servicer requirements and responsibilities within CMBS (conduit) transactions, i.e., Pooling & Servicing Agreements, Mortgage Loan Purchase Agreements
- Strong analytical abilities on all property types including commercial property valuation and financial statement review
- Competency with review and interpretation of commercial real estate loan documents and security instruments
- Very Good oral and written communication skills
- Very Good negotiating skills
- Experience with NPV analysis of property and loan cash flows and asset budget preparation
- Ability to manage multiple priorities
- Strong Excel skills
- Proficient with Microsoft Windows applications
- Able to work independently on projects and assigned loans/Reo with minimum supervision, and collaborate as a team player Special Requirements:
- The employee may be required to periodically meet with other team members and Management at different off-site locations for additional training and team building
- Occasional travel may be required in connection with the management and special servicing of an assigned real estate loan or property portfolio Working Conditions:
- Dedicated Home Office environment with frequent computer use
- Sitting for extended periods of time
- Hearing, talking, reaching, grasping #LI-MS1 #REMOTE