Location: Philadelphia, PA
Opportunity Overview
Our client is a real estate investment firm and are leaders in the distressed residential mortgage and multifamily and commercial real estate investing spaces. Their investment portfolio has nearly doubled over the past two years and right now, they are looking for top talent to join the team and help them continue setting and breaking company records.
They hire self-motivated leaders who are looking to take their careers to the next level. The individual for the Asset Manager role will be responsible for managing the company’s asset portfolio with the goal of achieving projected returns by managing timelines and decisions. The asset manager also assists with managing a portfolio of short-term business loans. A successful individual will bring their strengths of analytics, critical thinking, communication, and teamwork to the table from day one.
Our client offers a place to perform and excel at work without layers of corporate bureaucracy. They are a stable and reliable business that will be around for a long time with numerous growth opportunities.
The business consists of top-producing friendly and positive people who live by their core values. They believe that their company, customers, and community can all excel and grow together. You will immediately feel this once joining the team.
Position Overview
As an Asset Manager with our client, you will play a key role in managing the company’s asset portfolio with the goal of achieving projected returns by managing timelines and decisions associated with foreclosure, bankruptcy, and loss mitigation processes. You will also assist with managing their portfolio of short-term business loans to assist with duties such as onboarding new loans with our servicer, approving construction draws, and delinquency management.
Position Responsibilities
- Oversee onboarding of new loans including coordination of servicer and custodian kickoff processes.
- Manage and control asset level budgets and expenses.
- Collaborate with Director of REO Asset Management to determine loan bid amounts, expected cashflow, as well as the best exit strategy on non-performing loans that have started the foreclosure process.
- Work with servicer, attorneys, and/or custodians to manage foreclosure process and timelines, as well as deed in lieu processes and targets, and curing collateral issues.
- Help resolve borrower and loan problems, recommend repayment plans, and achieve loan performance consistent with company goals.
- Update and maintain accuracy in databases utilized for tracking the assumption, modification, waiver, and consent transactions received.
- Actively orchestrate short term business loan drawn process including approvals, funding, and coordinating with accounting and external asset managers.
- Monitor short term business loan delinquencies and initiate loss mitigation efforts such as entering loan modifications and extensions or initiating foreclosure process.
- Assist in the analysis and completion of complex loan modification requests.
- Prepare written reports, updates, and recommendations for presentation to management.
Position Qualifications
- Bachelor’s degree in finance, real estate, or economics, preferred.
- 5+ years of experience managing residential nonperforming loans.
- 3+ years of experience buying/selling real estate.
- Knowledge of foreclosure processes.
- Effective analytical skills with the ability to collect, organize, analyze, and disseminate significant amounts of information with attention to detail and accuracy.
- Ability to multi-task with exceptional time management, prioritization, and attention to detail.
- Advanced skills in Microsoft Excel.
For additional information regarding this opportunity, please email [email protected]