Asset Portfolio Manager

2 weeks ago


Rochester, New York, United States Planet Management Group Full time
Job Summary

The Asset Manager is responsible for overseeing a portfolio of moderately complex delinquent/problem loans, ensuring defined financial targets are reached. This includes coordinating loan repayments, analyzing borrowers' financial position, negotiating with borrowers (and/or attorney) to recommend workout solutions, restructuring loans, recovering charged-off loans, and monitoring adherence to terms of agreement.

Key Responsibilities
  • Perform account management of non-performing loans and REO, ensuring defined financial targets are reached.
  • Interact with delinquent mortgage customers to reduce losses and cure accounts via telephone, mailings, and other one-to-one contacts.
  • Develop loss mitigation strategies to improve performance benchmarks.
  • Contact borrowers throughout the life cycle of the loan to facilitate delinquency resolution strategies where applicable.
  • Evaluate borrower financial information to determine the likelihood of loss mitigation, workout, and recommend alternatives to foreclosure.
  • Make recommendations when loan size exceeds authorized charge-off limits.
  • Ensure adherence to policies and procedures for loan restructuring and rehabilitation.
  • Provide guidance and training to the collection team.
  • Audit all or part of loan portfolios to appraise the portfolio's credit quality, policy adherence, and degree of risk.
  • Analyze and apply appropriate strategies on individual accounts to successfully mitigate potential losses the company may suffer.
  • Monitor daily cues consisting of forbearance agreements, pending modifications, pending short sales, and Deeds in Lieu.
  • Review and critique appraisals and BPOs for establishing values.
  • Interact with foreclosure, bankruptcy, and collection departments to enhance understanding of asset-specific issues, as applicable.
  • Assist the Portfolio Manager or Senior Management as needed with special projects or reporting.
Requirements
  • 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 with deadlines with accuracy.
  • Strong PC skills in Microsoft Office and Microsoft Project.
Benefits

Our benefits package includes 3 comprehensive Cigna or Kaiser medical plans, dental, and vision insurance. We provide short-term and long-term disability insurance, basic life insurance, 401(k), and 10 employer-paid holidays. In addition, we offer supplemental benefits to include life insurance, critical illness, and accident plans.

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.



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