Special Servicing Asset Manager

• Establish contact with defaulted commercial loan borrowers within 5 business days of transfer to special servicing.
• Complete formal business plan within 45 days of transfer to special servicing.
• Provide written qualitative status comments on all assets no less than monthly.
• Update formal business plans as appropriate, but not less than every 180 days.
• Set and manage appropriate expectations for third party vendors.
• Provide appropriate instructions to other departments within agreed upon servicing level standards.
• Maximize recovery for lender clients.
• Successfully complete Company annual training requirements of not less than 40 hours.

• Minimum 5 years’ experience managing defaulted commercial business purpose loans secured by commercial use, mixed use, SFR/multifamily rental and/or SFR/multifamily transitional properties.
• Strong understanding of lender default remedies and enforcement strategies, including foreclosure, trustee sales, receivership, UCC sales, bankruptcy strategies, etc.
• Strong understanding of loan covenants and covenant compliance.
• Strong understanding of CRE income property type fundamentals, including income property operations analysis, and borrower financial analysis.
• Strong understanding of commercial real estate loan documentation.
• Strong effective communication skills, both verbal and written.
• Strong effective negotiation skills.
• Demonstrated ability to work independently with minimal supervision.
• Strong problem solving and decision making skills.
• Demonstrated ability to comply with detailed reporting requirements.
• Demonstrated ability to work under pressure, meet deadlines and adjust to changing priorities.
• Demonstrated skills with Microsoft 365 Suite, Adobe applications, commercial loan servicing applications (such as REALSynergy, Strategy, Enterprise, etc.).
• Strong teamwork skills to collaborate with associates in multiple departments.
• Prior underwriting experience for commercial business purpose loans secured by multifamily, mixed use, commercial use, SFR investor rental, and/or SFR/MFR construction/residential transition properties.
• Prior experience with rental property management.
• Be available to occasional travel 5%-25%

• Must pass the Company’s Background Screening process prior to beginning employment. Additionally, as a condition of employment, you may be required to pass client-specific background check requirements or Federal/State licensing requirements, if applicable.

The salary range for this position is expected to be $75,000 to $90,000 per year, depending on geographic location, experience, and other qualifications of the successful candidate.

This position is also eligible for bonus based on performance and subject to the terms of the Company’s applicable plans.

Onity Group Inc. is a leading non-bank financial services company providing mortgage servicing and originations solutions through its subsidiary, Onity Mortgage, formerly known as PHH Mortgage.

Onity Mortgage is one of the largest servicers in the country, focused on delivering a variety of servicing and lending programs to customers, clients and investors.

At Onity, we strive to earn our customers’ loyalty every day.

We do this by consistently delivering exceptional service and building trust through reliability, integrity, and following through on our commitments.

We operate through the lens of the customer, understand the importance of homeownership, and take pride in helping homeowners.

Collectively this fosters long-term relationships, ensuring our customers feel valued and supported.

We expect all employees to interact with and engage our colleagues and our customers with respect, courtesy and professionalism, and to achieve results consistent with our service delivery standards.

Onity is intensely focused on hiring, developing and retaining the best talent in the industry!

Our commitment to inclusion and equal opportunity ensures that we sustain our reputation as an outstanding place to work, a great business partner and a valued community member.

We are committed to equal employment opportunity regardless of race, color, ancestry, religion, sex, national origin, sexual orientation, age, citizenship, marital status, disability, gender identity or Veteran status.

If you have a disability or special need that requires accommodation, please let us know.

Onity Group Inc. offers a comprehensive benefits package including medical, dental and vision; up to 3% match on 401(k) contributions; generous paid time off; company-paid life, accident and disability coverage; programs for mental, physical and financial wellness; and more.

Visit jobs.onitygroup.com for details.