International Luxury Hotel Association

Director, Commercial Special Servicing

International Luxury Hotel Association

full-time

Posted on:

Location Type: Remote

Location: Florida • United States

Visit company website

Explore more

✨ AI Apply
Apply

Salary

💰 $145,000 - $165,000 per year

Job Level

Lead

About the role

  • Oversee and direct the activities of the Special Servicing unit managing a portfolio of defaulted commercial real estate and business purpose SFR loans to resolution.
  • Lead the revision of policies and procedures to encompass PHH’s growth and expansion into new commercial loan servicing markets.
  • Accountable for team performance and compliance with all PHH servicing requirements.
  • Report to the VP, Head of Commercial Special Servicing and assist in strategic planning for staff development and budget preparation.
  • Participate in client engagement and vendor management duties, and represent the interests of the Special Servicing unit in intradepartmental initiatives, projects and activities.
  • Hire, train and develop staff responsible for managing defaulted commercial real estate secured loans.
  • Provide effective direction for implementation of successful asset resolution plans.
  • Supervise a team of associates providing administrative support to external special servicers.
  • Establish appropriate key performance indicators to measure individual and team performance.
  • Develop and maintain appropriate reports to monitor defaulted loans throughout the special servicing period.
  • Manage relationships with third-party defaulted asset services providers, including attorney, appraisers, brokers, property management, environmental consultants, contracted asset managers, etc.
  • Prepare and present special servicing unit-related information for rating agencies, auditors, senior management and investors.

Requirements

  • Minimum 10 years’ experience managing defaulted commercial business purpose loans secured by commercial use, mixed use, SFR/multifamily rental and/or SFR/multifamily transitional properties.
  • Minimum 5 years’ experience directly managing commercial loan special servicing asset managers.
  • Superior understanding of negotiation tactics, workout structure and credit decisioning.
  • Superior understanding of lender default remedies and enforcement strategies, including judicial foreclosures, trustee sales, receivership, UCC sales, bankruptcy strategies, etc.
  • Superior communication skills, both verbal and written, including presentation.
  • Superior problem solving and decision making skills.
  • Strong understanding of commercial loan covenants and covenant compliance.
  • Strong understanding of CRE income property type fundamentals, including income property operations analysis, and borrower financial analysis.
  • Strong understanding of commercial real estate loan documentation.
  • Strong understanding of commercial loan servicing agreements and principles.
  • Strong understanding of loan securitization principles including CMBS and CRE-CLO.
  • Proven ability to work independently with minimal supervision.
  • Proven ability to manage remote employees.
  • Proven ability to effectively engage with senior management at all levels.
  • Demonstrated skills to develop reporting requirements specific to monitoring default services related performance.
  • Demonstrated ability to work under pressure, manage multiple projects while meeting project deadlines, and adjust to changing priorities.
  • Demonstrated proficiency with Microsoft 365 Suite, Adobe applications, commercial loan servicing applications (such as MSP/ICE, REALSynergy, McCraken Strategy, Enterprise, FICS, FIS, etc.).
  • Strong teamwork skills to collaborate with associates in multiple departments and locations.
  • Be available to travel 10%-25%.
Benefits
  • Health insurance
  • 401(k) matching up to 3%
  • Generous paid time off
  • Company-paid life, accident, and disability coverage
  • Programs for mental, physical and financial wellness
Applicant Tracking System Keywords

Tip: use these terms in your resume and cover letter to boost ATS matches.

Hard Skills & Tools
commercial loan servicingdefaulted asset managementnegotiation tacticsworkout structurecredit decisioninglender default remediescommercial loan covenantsincome property operations analysisloan securitization principlescommercial real estate loan documentation
Soft Skills
communication skillsproblem solvingdecision makingteamworkindependent workengagement with senior managementability to work under pressureproject managementadaptabilitystaff development