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The AVP, Risk Management, is responsible for managing the Special Servicing of a portfolio of Agency (Fannie Mae) loans, which are in default or considered to be in imminent default. The position requires proactive asset management and timely resolution of the assigned portfolio of distressed CRE mortgage loans. The primary function of the Special Servicer is to manage non-performing loans in accordance with the applicable investor Seller/Servicer Guides. Risk Management’s objective is to pursue the best resolution path that maximizes the recovery.
Essential Job Functions (Duties/Responsibilities)
This position will have the following duties and responsibilities, including but not limited to:
- Monitor quality and performance of a non-performing loan portfolio through delinquency and other reporting
- Ability to structure and execute resolution strategies (i.e. Foreclosure, Forbearance, Note Sale, DPO, Loan Modification or Reinstatement) in conjunction with the Investor goals
- Perform comprehensive analysis of property cash flow, markets, collateral, and valuation while determining possible alternatives for default resolution
- Work closely with Agency counterparts, in particular Fannie Mae’s Special Asset Management (SAM) team to carry out desired resolution strategy
- Review legal filings for accuracy and completeness
- Prepare payoff/ reinstatement calculations
- Prepare quarterly Loan Loss calculations
- Review property condition assessment (PCA) reports to understand the scope of immediate repairs needed at the collateral property
- Review property appraisal reports to understand the As-Is and As Stabilized values and impact on loss exposure
- Understanding of legal contracts, bankruptcy law, foreclosure process, and loan servicing agreements
- Lead, engage and interact with third parties including attorneys, receivers, management companies, brokers, appraisers, and environmental firms and engineers
- Conduct Physical Property inspections, as required, in order to evaluate property condition
- Provide written updates to senior management and investors
- Present recommendations in a clear and concise manner
- Request and review documentation supporting servicing advances
- Will assist the VP/ SVP, Risk Management on ad-hoc projects and requests from Senior Management
- Will work independently to identify problems and provide solutions to management
Qualifications
Education: Bachelor’s degree in Business, Finance, Real-Estate or a related discipline or equivalent work experience preferred.
Experience: 5+ years loan asset management experience with working knowledge of Special Servicing, bankruptcy and loan workouts.
Knowledge/Skills/Abilities:
- Intermediate Microsoft Office Skills
- Strong analytical, research and reporting skills
- Strong negotiation and communication (both verbal and written) skills
- Extremely high attention to detail and accuracy
- Comfortable interpreting legal documents such as loan agreements
- Strong organizational, time management, and prioritization skills
- Ability to work independently and on teams in a fast-paced environment with strict deadlines
Travel: 20-25%
Source: Arbor Realty Career Page
