Asset Manager

Senior Corporate Recruiter - Planet Home Lending, LLC

Join a winning team of innovative thinkers, seasoned mortgage professionals, and financial experts. Build your career at Planet—recognized as a Top Mortgage Employer by National Mortgage Professional.

Job Summary

The Asset Manager is responsible for reviewing and adjusting a portfolio of moderately complex delinquent / problem loans. This includes coordinating loan repayments; analyzing borrowers’ financial position; negotiate with borrowers (and/or attorney) in order to recommend workout solutions; restructuring loans, recovering charged off loans monitoring adherence to terms of agreement. Restructure financing for residential loans prior to foreclosure status. Assist customers in pursuing alternatives to foreclosure.

Work with borrowers who are in a delinquent status with their mortgage to process loss preventative options. Strategies used include repackaging debt and rescheduling payments. Examine cases, review financials and individual hardships and work within framework of investor guidelines to approve or deny the workout options.

Essential Duties and Responsibilities

• Performs account management of non-performing loans and REO ensuring defined financial targets are reached.
• Interacts with delinquent mortgage customers in an effort to reduce losses and cure accounts via telephone, mailings and other one to one contacts
• Develops loss mitigation strategies to improve performance benchmarks
• Contacts borrowers throughout life cycle of loan to facilitate delinquency resolution strategy where applicable
• Evaluates borrower financial information to determine likelihood of loss mitigation, workout and recommend alternatives to foreclosure
• Makes recommendations when loan size exceeds authorized charge-off limits
• Ensures adherence to policies and procedures for loan restructuring and rehabilitation
• Provides guidance and training to collection team
• Audits all or part of loan portfolios to appraise the portfolio’s credit quality, policy adherence, and degree of risk
• Analyzes and applies appropriate strategies on individual accounts to successfully mitigate potential losses the company may suffer
• Monitors daily cues consisting of forbearance agreements, pending modifications, pending short sales and Deeds in Lieu
• Reviews and critiques appraisals and BPO’s for establishing values
• Interacts with foreclosure, bankruptcy and collection departments to enhance understanding of asset specific issues, as applicable
• Assists Portfolio Manager or Senior Management as needed with special projects or reporting. Reconciliation of asset valuation, including review of BPO’s, appraisals, AVM’s to determine true asset reconciled value
• Performs other duties as assigned

Position Requirements

Education

• Bachelor’s degree or equivalent related work experience required.
• High school diploma or GED required

Experience

• Minimum 5 years of experience in Mortgage Collections with a heavy emphasis on Loan Workouts, Bankruptcy/Foreclosure processes
• Prior experience in dealing with more complex collection problems and inquires required

Functional/Technical Skills

• Proficient in Excel, Word and Access
• Effective written and verbal communication skills as well as excellent organizational skills
• Ability to work in with deadlines with accuracy
• Strong PC skills in Microsoft Office and Microsoft Project

Environmental/Physical Demands

Work is typically performed in a standard office environment. The physical demands described here are representative of those that must be met by an employee to successfully perform the essential functions of this job. While performing the duties of this job, the employee is regularly required to sustain predictable work attendance, communicate with others, frequently required to stand, walk, sit, and use arms, hands and fingers to reach, handle or touch.

The employee must occasionally lift and/or move up to 10 pounds. Specific vision abilities required by this job include close vision, and ability to adjust focus. Pursuant to the Americans with Disabilities Act, reasonable accommodations may be made to enable individuals with disabilities to perform the essential functions.

This job…