The Asset Manager is responsible for reviewing and adjusting a portfolio of moderately complex delinquent / problem loans.
This includes coordinating loan repayments; analyzing borrowers' financial position; negotiate with borrowers (and/or attorney) in order to recommend workout solutions; restructuring loans, recovering charged off loans monitoring adherence to terms of agreement. Restructure financing for residential loans prior to foreclosure status. Assist customers in pursuing alternatives to foreclosure. Work with borrowers who are in a delinquent status with their mortgage to process loss preventative options. Strategies used include repackaging debt and rescheduling payments. Examine cases, review financials and individual hardships and work within framework of investor guidelines to approve or deny the workout options.
Essential Duties and Responsibilities
Performs account management of non-performing loans and REO ensuring defined financial targets are reached.
Interacts with delinquent mortgage customers in an effort to reduce losses and cure accounts via telephone, mailings and other one to one contacts
Develops loss mitigation strategies to improve performance benchmarks
Contacts borrowers throughout life cycle of loan to facilitate delinquency resolution strategy where applicable
Evaluates borrower financial information to determine likelihood of loss mitigation, workout and recommend alternatives to foreclosure
Makes recommendations when loan size exceeds authorized charge-off limits
Ensures adherence to policies and procedures for loan restructuring and rehabilitation
Provides guidance and training to collection team
Audits all or part of loan portfolios to appraise the portfolio's credit quality, policy adherence, and degree of risk
Analyzes and applies appropriate strategies on individual accounts to successfully mitigate potential losses the company may suffer
Monitors daily cues consisting of forbearance agreements, pending modifications, pending short sales and Deeds in Lieu
Reviews and critiques appraisals and BPO's for establishing values
Interacts with foreclosure, bankruptcy and collection departments to enhance understanding of asset specific issues, as applicable
Assists Portfolio Manager or Senior Management as needed with special projects or reporting. Reconciliation of asset valuation, including review of BPO's, appraisals, AVM's to determine true asset reconciled value
Performs other duties as assigned
Position Requirements
Education
Bachelor's degree or equivalent related work experience required.
High school diploma or GED required
Experience
Minimum 5 years of experience in Mortgage Collections with a heavy emphasis on Loan Workouts, Bankruptcy/Foreclosure processes
Prior experience in dealing with more complex collection problems and inquires required
Functional/Technical Skills
Proficient in Excel, Word and Access
Effective written and verbal communication skills as well as excellent organizational skills
Ability to work in with deadlines with accuracy
Strong PC skills in Microsoft Office and Microsoft Project
Benefits
Our benefits package includes 3 comprehensive Cigna or Kaiser medical plans, dental, and vision insurance. We provide short term and long-term disability insurance, basic life insurance, 401(k), and 10 employer paid holidays. In addition, we offer supplemental benefits to include life insurance, critical illness and accident plans.
Environmental/Physical Demands
Work is typically performed in a standard office environment. The physical demands described here are representative of those that must be met by an employee to successfully perform the essential functions of this job. While performing the duties of this job, the employee is regularly required to sustain predictable work attendance, communicate with others, frequently required to stand, walk, sit, and use arms, hands and fingers to reach, handle or touch. The employee must occasionally lift and/or move up to 10 pounds. Specific vision abilities required by this job include close vision, and ability to adjust focus. Pursuant to the Americans with Disabilities Act, reasonable accommodations may be made to enable individuals with disabilities to perform the essential functions.
This job description is not designed to cover or contain a comprehensive listing of all activities, duties or responsibilities that are required of an employee. The Company reserves the right to amend or modify this document at any time and without notice.