Special Asset Manager/reo Asset Manager - Westlake Village, United States - Velocity Mortgage Capital

Description

Special Asset Manager
Velocity Commercial Capital, LLC is a wholly owned subsidiary of Velocity Financial, Inc, an NYSE-listed public company.

Velocity Commercial Capital is a real estate finance company founded in 2004 that primarily originates and manages investor loans secured by 1-4-unit residential rental and small commercial properties.

Velocity Commercial Capital is seeking to hire a Special Asset Manager on a full-time basis. This position is located at the corporate offices in Westlake Village, CA.

This is a hybrid position, where we have office facilities in Westlake Village, CA that are available to work in, although the majority of the employees work remotely.

However, periodic on-site meetings or trainings will require in-person attendance in our Westlake Village, California office location.


General Responsibilities

• Manage nonperforming commercial real estate loans from beginning of foreclosure to REO disposition
• Comprehensive analysis and understanding of collateral and determinations of value
• Presentation and recommendation of resolution strategies to management
• Work directly with legal counsel and monitor legal progress/developments
• Oversee property management and other outside vendors of the REO portfolio
• Some travel required for REO inspections
• Ability to analyze real estate markets and cash flow properties
• Review and assess potential impact of borrower bankruptcy filings; ensure protection of bank's position as a creditor
• Prepare and maintain a variety of management reports
• Negotiate REO sales

Required Skills and Experience

• Minimum of 35 years of experience in loan servicing, foreclosure, bankruptcy, and/or managing REO properties
• Strong property valuation skills
• Thorough knowledge of the following processes: loan servicing, foreclosure, bankruptcy, REO's, forbearance, and property management
• Effective negotiation of Purchase Contracts with REO properties
• Completing site inspections and recognizing neighborhood differences, when applicable
• Ability to vet vendors
• Strong timemanagement skills, including the ability to effectively prioritize work assignments.
• Proven track record at delivering timely and accurate information in a fastpaced environment
• Strong business acumen and ability to interface with executive management and attorneys
• Excellent computer skills, including proficiency in Microsoft Excel and Word

Education Requirements

• Bachelor's Degree preferred

Benefits become effective on the first day of the month following 30 days of employment and include:

• 401(k) with matching contribution
• Dental insurance
• Employee Stock Purchasing Program
• Health insurance
• Life insurance
• Paid time off
• Paid Holidays
• Pet Insurance
• Vision insurance

Pay:
$65, $80,000.00 per year


Benefits:

• 401(k)
• 401(k)

4% Match

• Dental insurance
• Health insurance
• Health savings account
• Life insurance
• Paid time off
• Vision insurance

Experience level:

• 3 years

Schedule:

• Monday to Friday

Education:

• Bachelor's (preferred)

Experience:

• Loan Servicing, Foreclosure, Bankruptcy, REO Properties: 3 years (required)

Property Valuation: 3 years (required)
Site Inspection: 3 years (required)

Work Location:
Hybrid remote in Westlake Village, CA 91362