Builders Capital is looking to add a Special Asset Manager to work with our borrowers and help them get through any problems they might be facing during the building process.
Builders Capital provides a comprehensive range of loan products to builders, developers, and investors across the country, we strive to be a builders most valued relationship. Our willingness to think creatively with loan terms, aggressive rates, agile in-house servicing team, speed to fund, and technology help set us apart from others. Builders Capital is the leading private equity construction lender, our loans help to create quality housing in a market at 5 million home deficits.
No two days will be the same in this role, you will be partnering closely with our Servicing team. Helping our servicing team navigate complicated scenarios with our borrowers with the hopes to help the borrowers.
Day to Day:
- Responsible for the servicing and managing all aspects of the problem loan portfolio, including but not limited to, pre-work out loans, downgraded loan, workout loans, prepared and updating Impairment. Analysis, loans in legal proceeding, etc. to minimize BC’s loss and liability associated with the loans assigned.
- Under the direction of the Founder/Principal, the Special Asset Manager is responsible for managing and resolving a portfolio of special assets through rehabilitation, exit, or liquidation, as well as oversight responsibilities for past dues, overdrafts, and covenant enforcement.
- The Special Asset Manager is responsible for developing strategies for workout credits with varying and evolving degrees of aggressiveness commensurate with the situation.
- Responsible to complete the periodic analysis for problem loans assigned. Through the in-depth analysis, Special Asset Manager identifies and recommends to senior management all relevant and available lending options and strategies for the problem credit assigned.
- The available lending strategies includes but not limited to loan restructuring, liquidation of collateral, pursuing legal action receivership through coordination with the Legal Department, seeking proper guaranties, foreclosures, deed in lieu, REO, etc.
- Calculate and recommend impairment and charge off amount in accordance with GAAP, BC Policy, and federal regulations.
- Makes policy and procedure recommendations to senior management as it related to problem loans, impairment analysis and workouts.
- Responsible for all aspects of managing, maintaining and liquidating REO property at a complex level for multiple property types.
- Assists senior management in evaluating collateral, loan documentation and financial information to determine BC’s position in current economic conditions.
- Responsible for restructuring and reducing problem assets at the lowest possible cost and risk, considering net credit losses, the cost of carrying non-performing assets and administrative costs.
- Identifies and recommends all relevant lending strategies including, but not limited, to negotiating payment arrangements, restructuring, legal actions, or collateral foreclosure and repossession to minimize loss to BC.
- Present lending strategy recommendations based on the analysis to management for approval.
- Responsible to minimize risk in the portfolio by (1) rehabilitating financing relationships so that problem assets may be restored to a satisfactory condition and (2) executing an exit strategy for problem assets that have no prospects for improvement.
- The analysis will include assigning appropriate risk rating and accrual status on all problem loans, managing Watchlist report to help BC anticipate any problem loans, and preparing impairment analysis to help management determine its reserve levels.
- Independently and accurately completes Commercial Quality Report (CQR) or any other credit risk analysis reports encompassing trend analysis, ability to repay, collateral coverage, known and potential risks, mitigation factors, and exit strategies, if applicable.
- Understands and stays abreast of changes to BC’s Policy, Procedures, laws and regulation applicable to area of responsibility.
- Performs collateral evaluation, verifies asset valuations, performs asset verification, investigate credit history, and evaluates personal and business assets within BC’s policy and procedure as well as applicable federal laws.
- Assist the Founder/Principal in reviewing new loan originations credit request. Verify all financial spreads are accurate, no discrepancies in third party reports, notate any issues that may impact the credit and make recommend changes to accurately assess a credit’s risk profile.
- Makes policy and procedure recommendations to senior management as it related to problem loans, impairment analysis and workouts.
- Maintains current knowledge of general economic conditions or changing trends that may affect BC’s business loans.
- Loan review and underwriting as required prior to a loan being submitted to LRC.
- Other duties as assigned to achieve the goals of the department and BC.
Qualifications:
- 4+ years’ of residential construction management experience.
- 2+ years of workout experience.
- Highly organized and the ability to deal with complexity, turning ambiguous inputs into solid action plans.
- Have polished communication skills.
- Ability to think outside of the box to solve problems.
Benefits:
- Health insurance – Builders Capital pays 100% of employee medical insurance premiums.
- Competitive wages.
- Paid time off – 3 weeks a year.
- Paid holidays – 10 paid holidays.
- Health Reimbursement Account (HRA) – Builders Capital puts $125 dollars a month into an HRA account for employee
- 401(k)
Salary Range for this position is $150,000 to 185,000 per year commensurate with experience and education.
This job posting highlights the most critical responsibilities and requirements of the job; however, there may be additional duties, responsibilities, and qualifications for this job.
Construction Loan Services II LLC (Builders Capital) and its affiliates are Equal Employment Opportunity (EEO) employers and welcome all qualified applicants. This is a full-time, exempt position. The job description contained herein is not intended to be a comprehensive list of the duties and responsibilities of the position, which may change without notice.
