Special Servicing Asset Manager

Arbor Realty Trust, Inc.; City of Tonawanda (NY); On-site; USD 90,000 - 125,000; Full time

Benefits offered by this job

Discretionary bonus

Medical benefits

401(k) eligibility

Paid time off

Job summary

Arbor Realty Trust, Inc. seeks a Senior Special Servicing Asset Manager to oversee the special servicing of Agency loans in default or imminent default for a distressed CRE portfolio.

You will structure resolutions, review appraisals, coordinate with attorneys and management, and provide concise updates to senior management and investors. This role requires 5+ years of asset management experience, a Bachelor's in business/finance, and strong analytical, negotiation, and communication skills.

Qualifications

• Bachelor’s degree in Business, Finance, Real-Estate or related discipline or equivalent work experience preferred.
• 5+ years loan asset management experience with working knowledge of Special Servicing, bankruptcy and loan workouts.
• Intermediate Microsoft Office Skills

Responsibilities

• Monitor quality and performance of a non-performing loan portfolio from Default through resolution
• Structure and execute resolution strategies (Foreclosure, Forbearance, Note Sale, DPO, Loan Modification or Reinstatement)
• Perform comprehensive analysis of property cash flow, markets, collateral, and valuation while determining possible alternatives for default resolution
• Partner with Agency Asset Management counterparts to carry out desired resolution strategy
• Review legal filings for accuracy and completeness
• Prepare quarterly Loan Loss calculations
• Review PCA reports to understand necessary repairs at collateral property
• Review property appraisal reports to understand As-Is and As-Stabilized values
• Understand legal contracts, bankruptcy law, foreclosure process, and loan servicing agreements
• Lead interactions with attorneys, receivers, management companies, brokers, appraisers and engineers
• Conduct Physical Property inspections as required
• Provide timely written updates to senior management and investors
• Present recommendations clearly
• Review documentation supporting servicing advances
• Assist VP/SVP, Risk Management on ad-hoc projects
• Work independently to identify problems and provide solutions

Skills

Analytical skills

Negotiation skills

Communication skills

Attention to detail

Interpretation of legal documents

Time management

Organizational skills

Teamwork

Independent work

Education

Bachelor's degree in Business/Finance/Real-Estate

Tools

Microsoft Office

Job description

The Senior Special Servicing Asset Manager is responsible for managing the Special Servicing of a portfolio of Agency (Freddie Mac and/or 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 from Default through resolution
• 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
• Partner closely with Agency Asset Management counterparts, to carry out desired resolution strategy
• Review legal filings for accuracy and completeness
• 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 timely 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: 15-20%

Arbor Realty Trust, Inc. offers a competitive base salary and discretionary bonus. The starting base salary range for this position is $90,000 to $125,000. The salary range listed reflects the compensation range for this position in the posted location only and should not be interpreted as the salary range for the same or similar positions in other geographic markets. Compensation ranges may vary by location. The specific compensation that will be offered is based on an understanding of the hired candidates' qualifications at the time of hire. Employees are eligible for a discretionary bonus based on employee work performance reviewed during the course of the year. The total compensation package for this position will also include other elements, a full range of medical, and/or other benefits including 401(k) eligibility and paid time off benefits.

We are proud to be an equal opportunity employer and are committed to maintaining a diverse workforce and an inclusive work environment for our associates, customers and business partners. We do not discriminate on the basis of race, religion, color, national origin, gender, sexual orientation, age, marital status, veteran status, disability, ethnicity, pregnancy or any other legally protected status. We are committed to working with and providing reasonable accommodations to individuals with disabilities.