- 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
- 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
- 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
- Dedicated Home Office environment with frequent computer use
- Sitting for extended periods of time
- Hearing, talking, reaching, grasping
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SVP, Special Servicing - Oklahoma City, United States - SitusAMC
Description
SitusAMC is where the best and most passionate people come to transform our client's businesses and their own careers. Whether you're a real estate veteran, a passionate technologist, or looking to get your start, join us as we work together to realize opportunities for everyone, we proudly serve.
At SitusAMC, we are looking to match your unique experience with one of our amazing careers, so that we can help you realize your potential and career growth within the Real Estate Industry. If you are someone who can be yourself, advocate for others, stay nimble, dream big, own every outcome, and think global but act local – come join our team
This role under direction of senior management, will have management responsibility of assigned troubled and non-performing loans and/or real estate properties as well as ad hoc processing of loan assumption and lender consent requests. This position requires a command of loan underwriting and loan valuation as it relates to most property types with the ability to handle virtually any transaction related issue with minimal input from senior management.
Essential Job Functions:
Qualifications/ Requirements:
Special Requirements:
Working Conditions:
#LI-MS1 #REMOTE
Note: This job description is not intended to be all inclusive or exclusive. At any time, employees may perform other related duties as required to meet the ongoing needs of the organization and participate in additional trainings.
SitusAMC is an Equal Opportunity Employer. Qualified applicants will receive consideration for employment without regard to race, color, religion, age, sex, national origin, disability, genetics, protected veteran status, sexual orientation, gender identity or expression, or any other characteristic protected by federal, state, or local laws.
Know Your Rights, Workplace Discrimination is Illegal )
SitusAMC does not accept unsolicited resumes from staffing agencies, search firms or any third parties. Any unsolicited resume submitted to SitusAMC in any manner will be considered SitusAMC property, and SitusAMC will not pay a fee for any placement resulting from the receipt of an unsolicited resume.
Job Location:
Remote, RE, USA
Country:
USA
The annual full time base salary range for this role is ($100,000 - $210,000). Specific compensation is determined through interviews and a review of relevant education, experience, training, skills, geographic location and alignment with market data. Additionally, certain positions may be eligible to receive a discretionary bonus as determined by bonus program guidelines, position eligibility and SitusAMC Senior Management approval. SitusAMC offers PTO and paid holidays, the terms of which are set forth in the program policies. All full time employees also are eligible to participate in various benefit plans, including medical, dental, vision, life, disability insurance and 401K; in each case in accordance with the terms of the applicable plans.
Pay Transparency Nondiscrimination Provision )
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