Fannie Mae Careers
MF Loss Mitigation Spec III
Fannie Mae provides reliable, large-scale access to affordable mortgage credit in communities across our nation. We are the leading source of funding for housing in America, which means more people can buy or rent a home. We are focused on sustaining the housing recovery, improving our company, and leading change to make housing better.
Join our diverse, high-performing team and make a difference as we work together to enable access to a good home.
For more information about Fannie Mae, visit http://www.fanniemae.com/progress
Serve as the main contact and responsible individual for managing loss mitigation managed assets. Primarily responsible for taking proactive steps to mitigate potential losses for defaulted loans or loans with a higher level of risk issues. Provide Loss Mitigation Director with observations on risk factors that should be communicated to senior management.
KEY JOB FUNCTIONS
- Engage lenders, servicers and borrowers to manage riskier loans, some of which may be in default.
- Mitigate risk or minimize potential losses through sound asset management strategies based on a history of proven long term success in the asset management field.
- Work with lenders, servicers, and third party vendors in order to identify risk issues as quickly as possible, and provide Management with feedback on ways to manage these concerns.
- Prepare detailed loan impairment and rating analysis for all assigned loans as needed.
- Engage and work with third party vendors to assist in the management of asset specific risk, as well as the resolution of the risk associated with these assets.
- Provide continual feedback to management on identified trends that could have an impact on future risk for the multifamily book of business.
- Bachelor's Degree or equivalent required
- 4+ years of related experience
- Knowledge of Multifamily real estate, property types, markets and fundamentals of property assessment and factors determining property value.
- Experience managing Multifamily troubled assets including understanding of the regulatory and legal environment, impairment, borrower and lender stakeholders rights and remedies, modifications and disposition process.
- Position requires strong analytical skills, and written and verbal communications skills.
- Must have ability to work independently with minimal supervision and collaboratively within the team and across the Multifamily/ Fannie Mae internal and external customer network.
As a condition of employment with Fannie Mae, any successful job applicant will be required to pass a pre-employment drug screen and to successfully complete a background investigation.
Req ID: 55193