Asset Management​/Post Closer

This full-time role is on-site, Monday – Friday, typically 9am to 5pm, at our corporate office in Cranford, New Jersey. We are a fast-growing, direct lender in residential real estate, including fix-and-flips, new construction, multi-family and rental properties seeking an experienced Asset Manager to join our team. This individual will manage loan assets through various stages, including handling rehab draws, addressing delinquencies, overseeing foreclosure processes, and managing loan extensions.

• Bachelor's Degree preferred.
• 3-5 years of experience in asset management, loan servicing, or real estate finance
• Excellent interpersonal and communication skills
• Strong attention to detail and accuracy
• Review Rehab Draw Requests: Analyze and verify rehab draw requests submitted by borrowers for accuracy and completeness. Ensure that draw requests are aligned with the agreed-upon budget and timelines in the loan agreement.
• Coordinate Inspections: Schedule and oversee inspections to verify the progress of the renovation work before approving rehab draws. Collaborate with third-party inspectors or internal teams to confirm that work meets the required standards.
• Monitor Loan Disbursements: Ensure funds are disbursed according to loan terms, maintaining compliance with company guidelines and industry standards.
• Track Project Progress: Maintain a detailed tracking system of project timelines, expenses, and completion stages to monitor the progress of each rehab project and minimize risks.
• Identify Delinquent Loans: Monitor loan performance and identify loans that are in delinquency or at risk of becoming delinquent. Review accounts to identify trends or potential issues before they escalated.
• Develop Payment Solutions: Work directly with borrowers to create payment plans, extensions, or alternative solutions to mitigate delinquencies and avoid default.
• Communicate with Borrowers: Maintain initiative-taking communication with borrowers regarding payment reminders, delinquency notices, and workout options to bring loans current.
• Document and Record Actions: Maintain accurate records of borrower communications, payment arrangements, and any actions taken related to delinquency management.

• Initiate Foreclosure Proceedings: When necessary, initiate the foreclosure process for loans that cannot be cured through other means. Collaborate closely with legal counsel to ensure compliance with state and federal foreclosure laws.
• Manage Legal Process: Oversee the progression of foreclosure actions, including filing appropriate legal documents, collaborating with attorneys, and coordinating with local authorities.
• Asset Liquidation: If foreclosure proceedings lead to asset liquidation, we oversee the sale of properties through auction, REO (Real Estate Owned), or other methods, ensuring the highest possible recovery for the company.
• Evaluate Foreclosure Alternatives: Explore options like deed-in-lieu or short sale alternatives to foreclosure when appropriate, minimizing loss exposure for the company.

• Evaluate Extension Requests: Review borrower requests for loan extensions or modifications. Assess whether an extension is viable based on the project’s progress, borrower performance, and market conditions.
• Negotiate
  
  Terms:
  
  Work with borrowers to negotiate the terms of any extensions, ensuring that the loan remains compliant with company guidelines while also being fair to the borrower.
• Prepare Documentation: Draft and review any necessary amendments, extensions, or modifications to loan documents to formalize the agreed-upon changes.
• Monitor Extended Loans: Once extensions are granted, continue to track the loan’s performance and ensure the borrower complies with the revised terms.

• Portfolio Management: Regularly monitor and report on the overall performance of loan portfolios, identifying potential issues early and taking initiative-taking measures to mitigate risk.
• Reporting & Documentation: Prepare detailed reports on loan performance, including delinquency trends, rehab progress, foreclosures, and extensions. Present findings to management and stakeholders.
• Servicing: Process borrower servicing requests, including payoff statements, Verification of Mortgage (VOM) requests, lien releases, and loan modifications.
• Collaborate with Internal Teams: Work closely with legal, underwriting, and servicing teams to ensure smooth loan processing and resolution of issues.
• Risk Management: Proactively identify risks within the portfolio and develop strategies to minimize exposure. This includes market conditions, borrower performance, and property values.

Unitas is a direct lender serving real estate investors nationwide. We offer short term financing to investors acquiring 1-4 family homes, multi family, ground up construction and development, aimed at adding value or retaining property, in a rental portfolio.

Benefits include healthcare coverage, disability/life insurance…