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Multifamily Loss Mitigation Specialist
Fannie Mae
Dallas, TX, United States
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Description
THE COMPANY
Are you interested in helping solve today's most critical housing challenges? In simplest terms, Fannie Mae serves the people who house America. We work at the heart of housing by providing reliable, affordable mortgage financing in all markets at all times, buying loans that banks and other lenders originate, so they can fund new loans. This gives more people the opportunity to buy, refinance, or rent homes and apartments. Creating these opportunities is what drives the people who work at Fannie Mae.
For more information about Fannie Mae, visit http://www.fanniemae.com/progress
JOB INFORMATION
Support the Multifamily Loss Mitigation business unit?s asset management of loans with identified risk/default issues. Analyze and report on portfolio analytics to assess levels of risk within the multifamily loss mitigation loan portfolio. Communicate with internal and external parties on loss mitigation issues to ensure timely mitigation of risk concerns. Provide process improvement recommendations for the business unit. Participate in technical development projects to improve portfolio reporting and analysis.
KEY JOB FUNCTIONS
• Perform and review workouts of pre-defaulted and defaulted multifamily loans. Act as key point of contact for the Loss Mitigation staff in the management of risk/default issues.
• With minimal management direction provide consultation to Multifamily? Lenders, servicers, and third party vendors in order to ensure that proper steps are taken to effectively manage portfolio risk.
• Support the development of reports and prepare related analysis for the Loss Mitigation staff. Focus is on identifying risk concerns at the individual or portfolio loan level. Adjust risk assessment priorities quarterly.
• Work closely with the Loss Mitigation staff to obtain and document all information required for assessing loans for possible impairment consistent with Fannie Mae standards, policies and procedures.
• Contribute to the development of business unit?s objectives and approaches to assignments. Provide input to the data staff to improve existing technology systems and in the development of new Loss Mitigation technology initiatives.
• Engage with third party and loss mitigation staff to research and report on loan rating issues.
• Well developed analytical competencies, systems understanding, and knowledge of fundamental multifamily loss mitigation business processes is essential to this role.
Qualifications
EDUCATION
• High School Diploma or equivalent required
MINIMUM EXPERIENCE
• 2+ years of related experience
SPECIALIZED KNOWLEDGE & SKILLS
• A Bachelor’s Degree with 2-5 years of Multi-family or Commercial Real Estate experience, preferably in Asset Management, Troubled Asset Workouts or Underwriting.
• Experience with the Delegated Underwriting and Servicing (DUS) program is preferred.
• The successful Candidate must support internal Asset Managers with detailed financial analysis of troubled real estate and review of loan agreements .
• Ability to evaluate 3rd party reports such as Appraisals and Property Condition Assessments.
• Strong Excel and Access skills required.
EMPLOYMENT
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.
Fannie Mae is an Equal Opportunity Employer.