Planet Home Lending

  • Asset Manager

    Job Locations US-NY-Rochester
    Posted Date 3 months ago(1/24/2018 2:09 PM)
    # of Openings
  • 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
    • The physical demands described here are representative of those that must be met by an employee to successfully perform the essential functions of this position. Reasonable accommodations may be made to enable individuals with disabilities to perform the essential functions. While performing the duties of this job.
    • The employee is regularly required to speak and listen using the telephone 75% of the day.
    • The employee is required to sit for extended periods of time (90% of day) and is occasionally required to stand and walk
    • The employee must regularly use hands to finger, handle, or feel objects and is regularly required to reach with hands and arms; the employee may occasionally climb or balance, and stoop, kneel, crouch, or crawl
    • The employee must regularly use fingers and hands to key data and type
    • The employee regularly uses computer to read and create data
    • Specific vision abilities required by this job include close vision, distance vision, color vision, and ability to adjust focus
    • The noise level in the work environment is usually quiet to moderate, and no extreme conditions are present


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