Planet Home Lending

Mortgage Asset Manager

US-NY-Rochester
8 months ago
# of Openings
3
Category
Default

Overview

The Asset Manager is responsible for reviewing and adjusting a portfolio of moderately complex delinquent / problem loans. Functions include: 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.

Primary Responsibilities

  • Responsible for account management of non-performing loans and REO ensuring defined financial targets are reached
  • Responsible for interacting with delinquent mortgage customers in an effort 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 life cycle of loan to facilitate delinquency resolution strategy where applicable
  • Evaluate 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
  • Ensuring adherence to policies and procedures for loan restructuring and rehabilitation
  • Providing 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
  • 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 BPO’s for establishing values
  • Interact with foreclosure, bankruptcy and collection departments to enhance understanding of asset specific issues, as applicable
  • Assist 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.

Position Requirements

  • 5+ years of experience in Mortgage Collections with a heavy emphasis on Loan Workouts, Bankruptcy/Foreclosure processes
  • Must be experienced in dealing with more complex collection problems and inquiries.
  • 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

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