AVP Distressed Credit Manager
3 days ago
The Community Preservation Corporation seeks a skilled AVP Loan Workout Specialist to join our team. As an LWS, you will be responsible for managing, monitoring, and resolving distressed multifamily construction loans. This is a critical role that requires expertise in loan workouts, restructuring complex real estate loans, and negotiation with borrowers and their counsel.
Key Responsibilities:
• Develop and implement detailed action plans and workout strategies for challenged credits
• Analyze loan documents, financial statements, and other relevant information to determine the best course of action
• Collaborate with mortgage officers, construction portfolio managers, in-house and external counsel, and external partners to resolve troubled loans
• Negotiate with borrowers, legal representatives, public partners, and other parties involved in the loan workout process
• Maintain effective communication and professional relationships with attorneys, noteholders, and other industry participants
Requirements:
• 8+ years of experience in commercial real estate or mortgage lending, including 3-5 years of loan workouts or restructuring complex real estate loans
• Strong credit skills, cash flow modeling, loan workout experience, and knowledge of affordable housing transaction structures, loan documentation, and loan workouts
• Ability to negotiate exit or remediation strategies with borrowers and their counsel
• Strong written, verbal, presentation, and interpersonal skills
• Strong computer skills, including MS Word, Excel, and PowerPoint, and ability to learn new applications
• Ability to organize, prioritize work, and demonstrate ability to work with minimal supervision
What We Offer:
• Competitive compensation ($125,000 - $145,000)
• Comprehensive benefits package, including medical, dental, vision, commuter benefits, and PTO
• Two 'work from anywhere' weeks per year and summer Fridays
• Collaborative working spaces and opportunities for growth and development
This is a full-time, hybrid role requiring two to three days of work at our Manhattan office.
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