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Multifamily Asset Management Director (Hybrid – 3 Days in Office – VA) Fulltime
Explore opportunities for the next step in your career.
Position Overview:
Position will serve as a key member of the Multifamily Asset Management Asset Resolution & REO team with primary responsibilities leading a team that is focused on investigating, monitoring, negotiating and resolving distressed multifamily loans. The position will frequently interact with borrowers/sponsors/guarantors along with loan servicers (internal and external) and legal counsel to evaluate and arrive at solutions for the company’s more challenging assets. Inherent in this process is the review and execution of well supported business plans to provide an achievable path forward while protecting the interests of Freddie Mac. Apply now and learn why Freddie Mac is #HomeToMore!
Our Impact:
• Our team is responsible for evaluating relief requests and following up on delinquent and/or underperforming loans with a focus on resumption of payments, collateral preservation and overall loss mitigation;
• Review of business plans in support of negotiated resolution strategies such as loan restructures/modifications and maturity deferrals or extensions
• Enforcement of default remedies under loan documents such as penalty charges, receivership, foreclosure, and REO
• Investigate and pursue remedies to return defective loans to sellers as conditions warrant
• Assist with periodic risk rating and valuation of certain non-securitized loans
• Development and presentation of frequent updates to internal partners
• Lead special projects and ad hoc reporting relating to asset resolution activities
Your Impact:
• Minimize losses on distressed mortgage loans via enforcement of legal remedies and/or employment of negotiated alternative strategies as appropriate
• Monitor and analyze the performance of loan collateral in conjunction with development of resolution strategy
• Manage receiverships, foreclosure actions, and REO as supported by approved business plans
• Collaborate with legal counsel and other internal partners as required to implement the approved resolution strategy
• Review updated valuation and property condition reports in conjunction with strategy formulation
• Provide the status of loans within Asset Resolution and those with various outside special servicers to be able to respond to questions from both internal and external partners.
Qualifications:
• Bachelor’s degree
• 12 or more years of extensive special servicing/loan workout experience
• 12 or more years of proven experience managing teams
• Effective business writing skills (emails, business plans, memos, briefs)
• Familiarity with key loan documents and servicing agreements
• Knowledge of multifamily property fundamentals, underwriting concepts, and financial statement analysis
• Demonstrated understanding of valuation and discounted present value concepts
• Ability to lead a team with multiple efforts and assignments simultaneously
• Strong verbal communication skills and public speaking, preferred
• GSE (Freddie Mac, Fannie Mae, and/or HUD) experience, preferred
Keys to Success in this Role:
• Ability to be an accountable teammate who will build and maintain relationships with both internal and external partners, while able to multitask, prioritize and be flexible
• Prior CMBS special servicing experience, including engaging & negotiating with borrowers & sponsors
• Results driven within corporate parameters and established departmental procedures
• Positive attitude toward challenging situations and the work needed for creative solutions
Today, Freddie Mac makes home possible for one in four home borrowers and is one of the largest sources of financing for multifamily housing. Join our smart, creative and dedicated team and you’ll do important work for the housing finance system and make a difference in the lives of others.
We are an equal opportunity employer and value diversity and inclusion at our company. We do not discriminate on the basis of race, religion, color, national origin, gender, sexual orientation, age, marital status, veteran status, disability status or any other characteristic protected by applicable law.
Freddie Mac offers a comprehensive total rewards package to include competitive compensation and market-leading benefit programs. Information on these benefit programs is available on our Careers site.
This position has an annualized market-based salary range of $199,000 – $299,000 and is eligible to participate in the annual incentive program. The final salary offered will generally fall within this range and is dependent on various factors including but not limited to the responsibilities of the position, experience, skill set, internal pay equity and other relevant qualifications of the applicant.
