International Luxury Hotel Association

Senior Asset Manager, Commercial Special Servicing

International Luxury Hotel Association

full-time

Posted on:

Location Type: Remote

Location: United States

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Salary

💰 $90,000 - $120,000 per year

Job Level

Senior

About the role

  • Review performing loan reports to identify commercial loans at risk of defaulting.
  • Initiate contact with defaulted commercial loan borrowers to identify default reason and resolution plan.
  • Assess borrower financial situation, property operations and property conditions.
  • Review business and individual credit reports and asset search results.
  • Review commercial loan documents for borrower requirements and lender remedies.
  • Review servicing agreements for servicer responsibilities, authorities and deadlines.
  • Prepare/verify calculations for legal demands.
  • Negotiate workouts with borrowers within acceptable lender client parameters.
  • Structure terms for loan modifications and forbearance agreements as needed.
  • Review property valuation reports from appraisers, brokers, market sources, etc.
  • Review/perform collateral property inspections.
  • Prepare written business plans describing reasons for default, enforcement options, alternative strategies, and servicer recommendations based on a net present valuation analysis.
  • Direct and monitor third-party vendors, including attorneys, inspectors, appraisers, property managers, investigators, receivers, brokers, contractors, title agents, insurance adjusters, etc., as needed.
  • Prepare projections for asset dispositions, including recovery amounts, losses, and timelines.
  • Provide instructions for all posting and disbursement transactions as needed.
  • Maintain current and accurate status reports on all assigned assets.
  • Support Commercial Primary Servicing representatives in borrower outreach efforts, market analysis and investor inquiries, as needed.
  • Comply with all Company requirements for training, compliance, audits and reporting.
  • Anticipate/identify issues that could impact Company/client operations and suggest solutions.
  • Administer defaulted loan sales as appropriate.
  • Administer complex REO activities, including, but not limited to, directing property managers and brokers, assessing property condition, preparing/reviewing budgets, etc.
  • Monitor performance of subservicers/asset management contractors.
  • Serve as a subject matter expert (SME) and mentor for junior staff.
  • Complete other activities and duties as may be assigned.

Requirements

  • Minimum 7 years’ experience managing defaulted commercial business purpose loans secured by commercial use, mixed use, SFR/multifamily rental and/or SFR/multifamily transitional properties.
  • Strong understanding of lender default remedies and enforcement strategies, including foreclosure, trustee sales, receivership, UCC sales, bankruptcy strategies, etc.
  • Strong understanding of 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.
  • Superior communication skills, both verbal and written.
  • Superior negotiation skills.
  • Demonstrated ability to work independently with minimal supervision.
  • Superior problem solving and decision making skills.
  • Demonstrated ability to comply with detailed reporting requirements.
  • Demonstrated ability to work under pressure, meet deadlines and adjust to changing priorities.
  • Demonstrated skills with Microsoft 365 Suite, Adobe applications, commercial loan servicing applications (such as REALSynergy, Strategy, Enterprise, etc.).
  • Strong teamwork skills to collaborate with associates in multiple departments.
  • Prior underwriting experience for commercial business purpose loans secured by multifamily, mixed use, commercial use, SFR investor rental, and/or SFR/MFR construction/residential transition properties.
  • Prior experience with rental property management for multifamily apartment or SFR portfolios.
  • Understanding of commercial loan servicing agreements and principles.
  • Be available to occasional travel 5%-25%.
Benefits
  • Eligible for bonus based on performance
Applicant Tracking System Keywords

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

Hard Skills & Tools
loan modificationforbearance agreementsfinancial analysisproperty operations analysiscommercial real estate loan documentationdefault remediescovenant compliancecollateral property inspectionsasset disposition projectionsnegotiation
Soft Skills
communicationnegotiationproblem solvingdecision makingindependent workteamworkadaptabilitytime managementattention to detailmentoring