Asset Manager

Overview

This role involves owning and actively managing a portfolio of loans that are not maintaining full compliance with their loan agreements. You will identify deviations before default, partner with borrowers to address off-track performance, and develop practical, well-documented solutions that protect capital while supporting borrower relationships.

This is not a maintenance or customer service role.

Responsibilities

• Own and actively manage a portfolio of loans that are out of compliance, from first identification through cure, resolution, or transfer to Special Assets.
• Monitor portfolio performance and borrower behavior to spot compliance deviations early, including:
  • Slow or inconsistent progress against the approved plan
  • Missed or late payments
  • Insurance or tax lapses
  • Repeated draw issues
  • Upcoming maturities without a clear exit
  • Changes in borrower liquidity or project scope
• Evaluate the borrower’s business plan and changes to the plan by reviewing construction and rehab budgets, scopes of work, permits, draw requests, and inspection reports; determine whether actual property condition and completion status have materially deviated from the original plan.
• Review and structure maturity extension requests by assessing progress, exit strategy, liquidity, and collateral position; recommend terms, conditions, and pricing that protect the organization.
• Manage draw exceptions and other deviations from standard servicing, including updated budgets, re-underwriting after scope changes, holdbacks, and clear communication of requirements and timelines to the borrower.
• Analyze borrower financial and liquidity position and project performance to assess risk and recommend a course of action.
• Identify discrepancies and red flags in draw requests, budget revisions, borrower documentation, and guarantor or ownership structures; escalate suspected fraud or misrepresentation with clearly documented support.
• Execute asset management solutions (extensions, additional collateral/guarantors, and workout agreements) in partnership with leadership; refer loans to foreclosure when intervention does not succeed.
• Lead and direct difficult conversations with borrowers and guarantors regarding performance issues, required remediation, and consequences of continued non-compliance.
• Partner with underwriting, servicing, legal, and executive leadership to determine and execute the best path forward for each asset.
• Present complex loan situations involving material non-compliance clearly to leadership with well-supported written analysis and actionable recommendations.
• Use AI tools, including Claude, to accelerate document review, financial and construction analysis, borrower communication, and pattern detection across your portfolio.
• Contribute ideas that challenge existing processes and help the department scale while maintaining high standards of risk management.

Requirements

• Bachelor’s degree required.
• 3+ years of experience in property or asset construction and renovation, asset management, loss mitigation or workout, or commercial servicing, or a comparable combination of experience.
• Understanding of business purpose loans, including maturity extensions, modifications, and the mechanics of default and workout.
• Experience evaluating construction and renovation budgets, draw requests, and scopes of work across project types (new construction, cosmetic renovation, full gut rehab, multifamily).
• Ability to assess a borrower’s business plan, exit strategy, and liquidity to determine whether a loan can be restructured.
• Excel proficiency and strong Word skills.
• Excellent written and verbal communication skills; ability to partner with borrowers and lead difficult conversations professionally and confidently.
• Sound judgment and critical thinking: evaluate situations on their merits rather than by checklist alone.
• High attention to detail balanced with big-picture risk thinking.
• Proficiency with, and willingness to work with, AI tools that research borrowers and loans and create efficient reporting.

Preferred Qualifications

• Background in construction, general contracting, construction engineering, or construction risk analysis.
• Experience with bridge or fix-and-flip lending, including extension and draw management.
• Experience underwriting Non-QM products (DSCR, bank statement, asset depletion).
• Familiarity with mortgage and servicing software and real estate data platforms (MLS, CoStar).
• Prior experience identifying or investigating loan fraud, borrower misrepresentation, or guarantor structuring issues.
• Experience providing feedback to or training AI-assisted underwriting or risk models.

Compensation & Benefits

• Health insurance
• Dental insurance
• Vision insurance
• 401(k)
• 401(k) matching
• Paid time off

Location

• Real estate investors nationwide (short-term bridge loans and long-term rental financing).