Senior CRE Asset Manager – Distressed Loan Workouts

Socket.dev; West Palm Beach (FL); On-site; USD 90,000 - 110,000; Full time

Benefits offered by this job

Medical benefits

Dental benefits

Vision benefits

401(k) match

Paid time off

Life insurance

Disability coverage

Wellness programs

Job summary

Onity Group Inc. is seeking a Commercial Special Servicing Senior Asset Manager to oversee loss mitigation, enforcement, and liquidation tasks for a diverse portfolio of non-performing commercial loans.

You will engage direct borrower contact, evaluate collateral operations, and coordinate with vendors to drive recoveries and strategic outcomes. Responsibilities include negotiating workouts, analyzing market conditions, preparing business plans, and mentoring junior staff.

Qualifications

• Minimum 7 years’ experience managing defaulted commercial loans secured by commercial use properties.
• Strong understanding of lender default remedies, enforcement strategies (foreclosure, trustee sales, receivership, etc.).
• Strong understanding of CRE income property fundamentals and borrower financial analysis.
• Familiar with loan covenants, covenant compliance and loan servicing agreements.
• Excellent verbal and written communication; ability to work independently under pressure.

Responsibilities

• Review performing loan reports to identify at-risk commercial loans.
• Initiate contact with defaulted borrowers to determine default reasons and resolution plans.
• Assess borrower financials, property operations, and property conditions.
• Review credit reports, asset search results, and loan documents for requirements and remedies.
• Negotiate workouts within lender parameters; structure terms for modifications/forbearance.
• Direct and monitor third-party vendors (attorneys, inspectors, brokers, etc.).
• Prepare business plans describing default reasons, options, and recovery strategies.
• Prepare projections for asset dispositions, including recovery amounts and timelines.
• Provide instructions for posting and disbursement transactions; maintain asset status reports.

Skills

Effective communication

Negotiation skills

Independent worker

Problem solving

Team collaboration

Microsoft 365

Adobe apps

Tools

REALSynergy

Strategy

Enterprise

Job description

Onity Group Inc. is seeking a Commercial Special Servicing Senior Asset Manager to oversee loss mitigation, enforcement, and liquidation tasks for a diverse portfolio of non-performing commercial loans.

You will engage direct borrower contact, evaluate collateral operations, and coordinate with vendors to drive recoveries and strategic outcomes. Responsibilities include negotiating workouts, analyzing market conditions, preparing business plans, and mentoring junior staff.