Ocwen Financial
Commercial Asset Manager, Special Servicing
Ocwen Financial, West Palm Beach, Florida, United States, 33412
Job Description
The Commercial Asset Manager - Special Servicing is responsible for managing a portfolio of non-performing or defaulted commercial real estate loans. This role involves developing and executing resolution strategies, maintaining borrower relationships, and addressing escalated issues as needed
Job Functions and Responsibilities:
To perform this job successfully, an individual must be able to perform each essential duty satisfactorily, including: Serve as the primary point of contact for borrowers and authorized third Communicate solutions using approved scripts and maintain detailed records of all interactions Navigate internal systems and resources to resolve borrower inquiries independently Use multiple servicing platforms and applications simultaneously (e.g. ICE, DocViewer, LiveVox, CMS, PHH Payment Application, iCasework) to complete required tasks Analyze financials, loan documents, and market conditions to determine optimal workout strategies (e.g., repayment plans, modifications, short sales, deed-in-lieu, foreclosure). Collaborate with attorneys, internal departments, and third parties to prepare and finalize workout documentation. Monitor foreclosure and bankruptcy proceedings, identifying and resolving delays. Prepare comprehensive business plans recommending loss mitigation or liquidation strategies. Review property inspections and address significant issues such as preservation, tenant concerns, and code violations. Ensure timely updates and resolution of issues related to taxes, insurance, and escrow accounts. Generate monthly performance reports for assigned assets. Maintain investor relationships and tailor strategies to meet investor requirements. Understand servicing agreements and investor guidelines. Oversee REO assets, including broker and property manager coordination and marketing strategy execution. Perform other duties as assigned. Key Result Areas:
Achieve or exceed monthly KPIs, quarterly incentives and annual goals Qualifications:
To perform this job successfully, an individual must have the following education and/or experience:
Bachelor's degree from an accredited university. Minimum 5 years of experience in the mortgage industry. Proficiency in Microsoft Office Suite, including Excel, Access, Word, PowerPoint, and Outlook. Strong leadership, analytical, and problem-solving skills. Excellent organizational and time management abilities. Effective verbal and written communication skills. Detail-oriented, self-motivated, and capable of working independently. Customer-focused and team-oriented. Adaptable and flexible in a dynamic environment. Bilingual (English/Spanish) a plus Experience with mobile technology and REO asset management is a plus. Exceptional interpersonal skills, including conflict resolution and professional relationship building. Training / Licensing Requirements:
Must pass the company's background screening process. May be subject to additional client-specific or federal/state licensing requirements. Work Schedule:
Monday through Friday, 8:30 a.m. - 5:30 p.m.EST
The salary range for this position is expected to be $63,700 to $85,000 per year, depending on geographic location, experience, and other qualifications of the successful candidate. This position is also eligible for quarterly bonus based on performance and subject to the terms of the Company's applicable plans.
About Us
Onity Group Inc. is a leading non-bank mortgage servicer and originator providing solutions through its primary brands, PHH Mortgage and Liberty Reverse Mortgage.
PHH Mortgage, a subsidiary of Onity Group Inc., has been providing mortgage lending and servicing solutions since 1984 and is dedicated to maintaining responsible and ethical practices while delivering an exceptional customer experience. PHH offers industry-leading mortgage solutions for the entire mortgage lifecycle, including correspondent lending, MSR/Co-Issue, subservicing, commercial servicing, reverse mortgages and portfolio retention. We are one of the largest subservicers of residential mortgages in the United States and one of only two servicers in reverse mortgage lending.
At Onity Group Inc., we consistently deliver on our commitments to customers, clients, investors and colleagues through caring service, integrity and creative solutions. This Service Excellence philosophy is embraced by meeting service standards we call CARE, which stands for Caring, Accurate, Responsive and Empowered. We expect all employees to interact and engage our colleagues and our customers with respect, courtesy and professionalism, and to achieve results consistent with our CARE standards.
Onity Group Inc. is intensely focused on hiring, developing and retaining the best talent in the industry! Our commitment to Diversity, Equity & Inclusion ensures that we sustain our reputation as an outstanding place to work, a great business partner and a valued community member. We are committed to equal employment opportunity regardless of race, color, ancestry, religion, sex, national origin, sexual orientation, age, citizenship, marital status, disability, gender identity or Veteran status. If you have a disability or special need that requires accommodation, please let us know.
Onity Group Inc. offers a comprehensive benefits package including medical, dental and vision; up to 3% match on 401(k) contributions; generous paid time off; company-paid life, accident and disability coverage; programs for mental, physical and financial wellness; and more. Visit jobs.onitygroup.com for details.
The Commercial Asset Manager - Special Servicing is responsible for managing a portfolio of non-performing or defaulted commercial real estate loans. This role involves developing and executing resolution strategies, maintaining borrower relationships, and addressing escalated issues as needed
Job Functions and Responsibilities:
To perform this job successfully, an individual must be able to perform each essential duty satisfactorily, including: Serve as the primary point of contact for borrowers and authorized third Communicate solutions using approved scripts and maintain detailed records of all interactions Navigate internal systems and resources to resolve borrower inquiries independently Use multiple servicing platforms and applications simultaneously (e.g. ICE, DocViewer, LiveVox, CMS, PHH Payment Application, iCasework) to complete required tasks Analyze financials, loan documents, and market conditions to determine optimal workout strategies (e.g., repayment plans, modifications, short sales, deed-in-lieu, foreclosure). Collaborate with attorneys, internal departments, and third parties to prepare and finalize workout documentation. Monitor foreclosure and bankruptcy proceedings, identifying and resolving delays. Prepare comprehensive business plans recommending loss mitigation or liquidation strategies. Review property inspections and address significant issues such as preservation, tenant concerns, and code violations. Ensure timely updates and resolution of issues related to taxes, insurance, and escrow accounts. Generate monthly performance reports for assigned assets. Maintain investor relationships and tailor strategies to meet investor requirements. Understand servicing agreements and investor guidelines. Oversee REO assets, including broker and property manager coordination and marketing strategy execution. Perform other duties as assigned. Key Result Areas:
Achieve or exceed monthly KPIs, quarterly incentives and annual goals Qualifications:
To perform this job successfully, an individual must have the following education and/or experience:
Bachelor's degree from an accredited university. Minimum 5 years of experience in the mortgage industry. Proficiency in Microsoft Office Suite, including Excel, Access, Word, PowerPoint, and Outlook. Strong leadership, analytical, and problem-solving skills. Excellent organizational and time management abilities. Effective verbal and written communication skills. Detail-oriented, self-motivated, and capable of working independently. Customer-focused and team-oriented. Adaptable and flexible in a dynamic environment. Bilingual (English/Spanish) a plus Experience with mobile technology and REO asset management is a plus. Exceptional interpersonal skills, including conflict resolution and professional relationship building. Training / Licensing Requirements:
Must pass the company's background screening process. May be subject to additional client-specific or federal/state licensing requirements. Work Schedule:
Monday through Friday, 8:30 a.m. - 5:30 p.m.EST
The salary range for this position is expected to be $63,700 to $85,000 per year, depending on geographic location, experience, and other qualifications of the successful candidate. This position is also eligible for quarterly bonus based on performance and subject to the terms of the Company's applicable plans.
About Us
Onity Group Inc. is a leading non-bank mortgage servicer and originator providing solutions through its primary brands, PHH Mortgage and Liberty Reverse Mortgage.
PHH Mortgage, a subsidiary of Onity Group Inc., has been providing mortgage lending and servicing solutions since 1984 and is dedicated to maintaining responsible and ethical practices while delivering an exceptional customer experience. PHH offers industry-leading mortgage solutions for the entire mortgage lifecycle, including correspondent lending, MSR/Co-Issue, subservicing, commercial servicing, reverse mortgages and portfolio retention. We are one of the largest subservicers of residential mortgages in the United States and one of only two servicers in reverse mortgage lending.
At Onity Group Inc., we consistently deliver on our commitments to customers, clients, investors and colleagues through caring service, integrity and creative solutions. This Service Excellence philosophy is embraced by meeting service standards we call CARE, which stands for Caring, Accurate, Responsive and Empowered. We expect all employees to interact and engage our colleagues and our customers with respect, courtesy and professionalism, and to achieve results consistent with our CARE standards.
Onity Group Inc. is intensely focused on hiring, developing and retaining the best talent in the industry! Our commitment to Diversity, Equity & Inclusion ensures that we sustain our reputation as an outstanding place to work, a great business partner and a valued community member. We are committed to equal employment opportunity regardless of race, color, ancestry, religion, sex, national origin, sexual orientation, age, citizenship, marital status, disability, gender identity or Veteran status. If you have a disability or special need that requires accommodation, please let us know.
Onity Group Inc. offers a comprehensive benefits package including medical, dental and vision; up to 3% match on 401(k) contributions; generous paid time off; company-paid life, accident and disability coverage; programs for mental, physical and financial wellness; and more. Visit jobs.onitygroup.com for details.