Special Servicing Asset Manager at Onity Group Inc. | All Remote Jobs
Onity Group Inc.
Special Servicing Asset Manager
United States · remote · USD 75000-90000 annual
himalayasseo_indexablePosted 2026-09-10First seen 2026-09-11
Role overview
The Commercial Special Servicing Asset Manager administers the loss mitigation, remedy enforcement and liquidation tasks for an assigned portfolio of geographically diverse, non-performing, commercial/business purpose mortgage loans secured by investor owned commercial use, mixed use, SFR/multifamily rental and/or SFR/multifamily transitional properties. The role duties include direct commercial borrower contact, assessing enforcement activities permitted under the loan documents, evaluating collateral property operations and conditions, assessing market conditions, negotiating commercial borrower workouts, directing enforcement and property vendors, including legal counsel, property managers, brokers, inspectors, etc., preparing formal business plans and status reports to investors. The position may also support Primary Commercial Servicing representatives with property and/or market analysis, borrower interaction, and investor inquiries, as appropriate.
Job Functions and Responsibilities:
To perform this job successfully, an individual must be able to perform each essential duty satisfactorily:
Review performing loan reports to identify commercial loans at risk of defaulting.
Initiate contact with defaulted commercial loan borrowers to identify default reason and resolution plan.
Assess borrower financial situation, property operations and property conditions.
Review business and individual credit reports and asset search results.
Review commercial loan documents for borrower requirements and lender remedies.
Review servicing agreements for servicer responsibilities, authorities and deadlines.
Prepare/verify calculations for legal demands.
Negotiate workouts with borrowers within acceptable lender client parameters.
Structure terms for loan modifications and forbearance agreements as needed.
Review property valuation reports from appraisers, brokers, market sources, etc.
Review/perform collateral property inspections.
Prepare written business plans describing reasons for default, enforcement options, alternative strategies, and servicer recommendations based on a net present valuation analysis.
Direct and monitor third-party vendors, including attorneys, inspectors, appraisers, property managers, investigators, receivers, brokers, contractors, title agents, insurance adjusters, etc., as needed.
Prepare projections for asset dispositions, including recovery amounts, losses, and timelines.
Provide instructions for all posting and disbursement transactions as needed.
Maintain current and accurate status reports on all assigned assets.
Support Commercial Primary Servicing representatives in borrower outreach efforts, market analysis and investor inquiries, as needed.
Comply with all Company requirements for training, compliance, audits and reporting.
Anticipate/identify issues that could impact Company/client operations and suggest solutions.
Administer defaulted loan sales as appropriate.
Administer complex REO activities, including, but not limited to, directing property managers and brokers, assessing property condition, preparing/reviewing budgets, etc.
Complete other activities and duties as may be assigned.
Key Result Areas:
Establish contact with defaulted commercial loan borrowers within 5 business days of transfer to special servicing.
Complete formal business plan within 45 days of transfer to special servicing.
Provide written qualitative status comments on all assets no less than monthly.
Update formal business plans as appropriate, but not less than every 180 days.
Set and manage appropriate expectations for third party vendors.
Provide appropriate instructions to other departments within agreed upon servicing level standards.
Maximize recovery for lender clients.
Successfully complete Company annual training requirements of not less than 40 hours.
Strong understanding of lender default remedies and enforcement strategies, including foreclosure, trustee sales, receivership, UCC sales, bankruptcy strategies, etc.
Strong understanding of loan covenants and covenant compliance.
Strong understanding of CRE income property type fundamentals, including income property operations analysis, and borrower financial analysis.
Strong understanding of commercial real estate loan documentation.
Strong effective communication skills, both verbal and written.
Strong effective negotiation skills.
Demonstrated ability to work independently with minimal supervision.
Strong problem solving and decision making skills.
Demonstrated ability to comply with detailed reporting requirements.
Demonstrated ability to work under pressure, meet deadlines and adjust to changing priorities.
Demonstrated skills with Microsoft 365 Suite, Adobe applications, commercial loan servicing applications (such as REALSynergy, Strategy, Enterprise, etc.).
Strong teamwork skills to collaborate with associates in multiple departments.
Prior underwriting experience for commercial business purpose loans secured by multifamily, mixed use, commercial use, SFR investor rental, and/or SFR/MFR construction/residential transition properties.
Prior experience with rental property management.
Be available to occasional travel 5%-25%
Training / Licensing Requirements:
Must pass the Company’s Background Screening process prior to beginning employment. Additionally, as a condition of employment, you may be required to pass client-specific background check requirements or Federal/State licensing requirements, if applicable.
The salary range for this position is expected to be $75,000 to $90,000 per year, depending on geographic location, experience, and other qualifications of the successful candidate. This position is also eligible for bonus based on performance and subject to the terms of the Company’s applicable plans.