REO Asset Manager
The ideal candidate is comfortable handling delinquent accounts, taking appropriate measures to mitigate the risk of loan loss, preserving the collateral, and properly documenting of any loan restructure.
The REO Asset Manager is responsible for the management of an assigned portfolio of sub- and non-performing commercial real estate loans and REOs. Management of the portfolio involves regular, direct interactions with borrowers, our third-party servicers, and attorneys, as well as working closely with the Special Servicing team to make sure Velocity’s interests are properly preserved. The REO Asset Manager is responsible for implementing loan collection and mitigation plans.
This is a full-time position in our Westlake Village headquarters.
Duties and Responsibilities
- Manage non-performing commercial real estate loans from beginning of foreclosure to REO disposition
- Comprehensive analysis and understanding of collateral and determinations of value
- Presentation and recommendation of resolution strategies to management
- Work directly with legal counsel and monitor legal progress/developments
- Oversee management of REO portfolio
- Ability to analyze real estate markets and cash flow properties
- Review and assess potential impact of borrower bankruptcy filings; ensure protection of bank’s position as a creditor
- Ability to travel a minimum of 10-20%, if required
Required Skills and Experience
- Experience in special servicing
- Experience with REO asset management
- Experience with commercial real estate
- Strong written and verbal communication skills
- Good organizational skills, with the ability to multi-task efficiently
- Bachelor’s Degree
Our benefits package includes medical, dental and vision insurance without having to wait 90 days. Benefits kick in on the first day of the month following 30 days of employment. We offer 401K match and multiple paid holidays.