VP - RTL Asset Sr. Manager

Selene Finance LP•Minneapolis, MN

About The Position

Selene Finance is seeking an Asset Manager who will perform a wide variety of duties in the Loss Mitigation area by overseeing the default servicing functions completed by our network of servicers and originators. This position will primarily oversee our Residential Transition Loans. This position requires in-depth expert knowledge of default servicing practices, primarily in foreclosure, bankruptcy, loss mitigation, and property valuation, in addition to monitoring draws. Qualified candidates will be flexible, results oriented, self-starter, high attention to detail and possess advanced communication and organizational skills. The ideal candidate position must have the ability to work in a fast-paced environment and manage multiple competing priorities.

Requirements

Minimum of 10+ years Mortgage experience in at least 3 or more of the following areas: RTL/Fix and Flip Experience, Collections, Loss Mitigation
Expert knowledge of RTL/Fix and Flip loans
Advanced knowledge of Foreclosure and Bankruptcy Processes
Working knowledge of servicing systems, such as LPS, MSP, BlackKnight is a plus
Solves problems with a sense of recognizing opportunities, understanding risks, and acting quickly to overcome obstacles and reach a solution.
Must be detailed oriented and consistently maintain a high level of quality and accuracy in their work
Ability to work independently with minimal direct supervision and effectively communicate with multiple servicers on a constant basis to achieve stated objectives
Ability to organize, prioritize and allocate workload for optimum efficiency
Ability to resolve conflict appropriately and effectively resolve problems
Strong team player with a high level of professionalism

Nice To Haves

Working knowledge of servicing systems, such as LPS, MSP, BlackKnight is a plus

Responsibilities

Ultimately develop, track and monitor rehab and draw process – strategy change, status change and project progress
Review all extensions and determine if extension policy is being adhered to
Monitor delinquent assets and help drive Loss Mitigation options with servicers
Conduct value reconciliation on assets to identify potential risk
Conduct loss analysis assessments on delinquent assets and be able to present this to upper management
As the subject matter expert, create best practice guidelines, both internally and externally
Create exception reporting to proactively identify potential risky assets, in addition to building out necessary controls to minimize loss
Determine watchlists and ‘stop lending’ events/borrowers
Forward facing with the trading desk and transaction management as the subject matter expert
Bid and acquisition diligence for New Origination and NPL purchases as needed
Conduct monthly QC to make sure draws are disbursed appropriately
Monitor and evaluate financial performance of large borrowers (Quarterly covenants review)
Review loss mitigation transactions for approval or denial to ensure consistency, accuracy, and quality
Conduct asset level reviews for loans outside of acceptable timelines and drive resolution strategies / practices
Proactively review problem accounts with servicers and monitor to a quick resolution
Actively participate in monthly loss mitigation performance meetings and provide insight for improvements and current trends
Collaborate closely with internal teams and servicers to identify and create procedural changes and system enhancements; Recommend operational improvements and assist in implementation
Remain current on all default processes and regulatory changes and their impacts on borrowers and servicing practices
Create internal policy and procedures and ensure proper controls are in place to oversee multiple servicers and originators.