Overview
This role is part of the Special Servicing team and focuses on managing and resolving non-performing loans, defaulted assets, and other high-risk loans. The position works to protect and maximize collateral value while mitigating losses and executing recovery strategies.
The Senior Asset Manager serves as the primary liaison between the borrower and investors, updates internal systems, strategizes options, ensures adherence to state and federal laws, and provides reporting to senior management.
Responsibilities
- Manage a portfolio of loans in imminent or active default, overseeing all aspects of resolution.
- Conduct detailed research on default matters, including payment history, lien releases, title chains, construction accounts, and court documentation, to develop and execute optimal resolution strategies.
- Review and approve documentation required throughout the default management process.
- Communicate effectively with clients, legal counsel, and third-party vendors, providing timely updates and guidance.
- Collaborate with internal teams (underwriting, servicing, surveillance, finance) to optimize recovery outcomes.
- Maintain thorough documentation of all actions, analyses, and communications in loan files.
- Present asset status, resolution strategies, and recovery forecasts to management and investors.
- Analyze property valuations, assess net present value (NPV), and prepare detailed cash flow analyses to support decision-making.
- Monitor and track foreclosure proceedings, including motions, hearings, and required actions, to ensure timelines and investor guidelines are met.
- Monitor bankruptcy filings and other legal actions that may impact foreclosure status.
- Prepare and submit bidding instructions for management approval prior to trustee or attorney submission.
- Track and manage REO properties post-sale through confirmation, redemption, or ratification, ensuring proper recording of deeds and assignments.
- Research and resolve delinquent tax issues and review vendor invoices for accuracy before payment.
- Assist with training junior team members.
Requirements
- Bachelor’s degree in finance, real estate, or related field.
- 8+ years real estate asset management experience.
- Excellent negotiation, analytical, problem-solving, and organizational skills.
- Strong computer skills, including Microsoft Office (MS Word, Excel, Outlook).
- Excellent communication skills.
- Proven ability to manage multiple complex cases efficiently and meet deadlines.
- Detail-oriented with excellent organizational skills and impeccable writing and grammar skills.
- Ability to work in a fast-paced environment while maintaining a high level of accuracy.
- Ability to work on multiple projects with flexibility for changing priorities.
Preferred Qualifications
Compensation & Benefits
- Base pay range: $110,000 to $130,000 per year.
- Plus annual discretionary bonus based on performance of the individual and company.
Benefits include:
- Comprehensive health insurance options including Medical, Dental, Vision, Basic Life/AD&D insurance
- Generous sick leave & vacation benefits
- Highly competitive performance bonus
- 401(k) retirement program with employer match
- Tuition reimbursement toward professional development
- Workplace celebrations, team building, charity drives, and food truck luncheons
- Onsite gym (Thousand Oaks only)
- 12 paid holidays
Location
Fully remote role with the opportunity to travel as needed.