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Share Loan/Single Family Asset Manager

Position:  Share Loan/Single Family Asset Manager

Location:  Crystal City, VA

Nature & Scope:  The primary responsibility of the Asset Manager position is to monitor slow paying and/or delinquent loan accounts held by NCB as well as those serviced on behalf of third-party investors (such as Fannie Mae) so as to minimize losses on these accounts.  The Asset Manager is to contact customers to determine if modification or other workout options are appropriate.  If so, the Asset Manager prepares modification requests for approval.  In the event of foreclosure or repossession of collateral, the Asset Manger manages such assets and determines appropriate disposition strategies. 

Responsibilities Include: 

  • Loan Collections 
    • Monitoring delinquency and maturity reports to identify potential problem accounts
    • Contacting delinquent accounts to determine status and potential actions
    • Establishing repayment and/or loan modifications to minimize losses
    • Drafting and submitting recommendations for modifications both for bank and third-party approvals
    • Initiating foreclosure or repossession of collateral when necessary
    • Monitoring bankruptcy accounts; working with Default Management to establish appropriate bankruptcy plans
    • Monitoring and maintaining established benchmarks for foreclosure timeframes and legal expenses
    • Monitoring and maintaining other established benchmarks for servicing activities
    • Communicating changes to loan terms to Loan Servicing and Loan Accounting
    • Recommending and drafting charge-offs when appropriate
  • Foreclosed or Repossessed Collateral
    • Completing the foreclosure or repossession process including asset valuation via third-party appraisers, establishing bid amounts at sale and ensuring proper title
    • Managing owned collateral appropriately during the holding period including establishment of property security and property maintenance through third-party management companies
    • Ensuring that appropriate insurance coverage's are maintained
    • Managing the disposition of assets via third-parties so as to minimize losses until final proceeds are received
  • Reporting 
    • Preparing monthly reporting for management
  • Special Projects 
    • Completing special projects as assigned

Minimum Qualifications:

  • College Degree with business concentration
  • Knowledge of residential cooperative share loans, and previous SBA experience.
  • Minimum of 4 years of consumer collection experience including collection and disposition of residential real estate mortgages
  • Thorough knowledge of Fannie Mae servicing and collection procedures
  • Knowledge of consumer collection laws and regulations
  • Prior experience reviewing and analyzing financial statements, tax returns and appraisals
  • Proficiency in Microsoft Office
  • Excellent written and verbal communication skills
  • Strong negotiation skills

If you would like to apply for this position, please submit your resume to ncbvajobs@ncb.coop.