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 payoff/ reinstatement calculations
- 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.
