At Freddie Mac, you will do important work to build a better housing finance system and you'll be part of a team helping to make homeownership and rental housing more accessible and affordable across the nation.
Position Overview:
Position will serve as a key member of the Multifamily Asset Management Asset Resolution & REO team with primary responsibilities 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 drafting 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!
Want more jobs like this?
Get Software Engineering jobs in McLean, VA delivered to your inbox every week.
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;
- Preparation 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;
- Work with team members and other internal groups to fulfill FM master servicing duties across many securitized loan portfolios/trusts (including evaluating loans being proposed for transfer to or from "special servicing" status);
- Review & process advancing requests related to distressed securitized loans;
- Assist with periodic risk rating and valuation of certain non-securitized loans;
- Preparation and presentation of monthly updates to internal stakeholders;
- Perform special projects and ad hoc reporting relating to asset resolution activities.
Your Impact:
- Support AR Directors and Managers in carrying out all Asset Resolution initiatives, responsibilities and procedures;
- Support efforts to 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;
- Collaborate with legal counsel and other internal partners as required to execute the approved resolution strategy;
- Order and review updated valuation and property condition reports in conjunction with strategy formulation;
- Continually track & update 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 stakeholders.
Qualifications:
- Bachelor's degree;
- 5+ years of related work experience in a real estate finance and special servicing/loan workout environment;
- Familiarity with key loan documents and servicing agreements;
- Knowledge of multifamily property fundamentals, underwriting concepts, and financial statement analysis;
- Ability to manage multiple efforts and assignments simultaneously;
- Expertise in MS Excel with ability to create & utilize macros, tables, formulas, charts, etc.;
- Strong verbal and written communication skills including use of MS Outlook, Word, Power Point and Teams;
- Effective business writing skills (emails, business plans, memos, briefs);
- GSE (Freddie Mac, Fannie Mae, and/or HUD) experience a plus.
Keys to Success in this Role:
- Ability to be an accountable team player who will build and maintain relationships with both internal and external stakeholders, while able to multitask, prioritize and be flexible;
- Prior special servicing experience, including engaging with borrowers, sponsors, loan servicers and legal counsel;
- Results driven within corporate parameters and established departmental procedures;
- Positive attitude toward challenging situations and the work needed for creative solutions.
Current Freddie Mac employees please apply through the internal career site.
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. We will ensure that individuals with differing abilities are provided reasonable accommodation to participate in the job application or interview process, to perform essential job functions, and to receive other benefits and privileges of employment. Please contact us to request accommodation.
Notice to External Search Firms: Freddie Mac partners with BountyJobs for contingency search business through outside firms. Resumes received outside the BountyJobs system will be considered unsolicited and Freddie Mac will not be obligated to pay a placement fee. If interested in learning more, please visit www.BountyJobs.com and register with our referral code: MAC.
Time-type:Full time
FLSA Status:Exempt
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 $118,000 - $178,000 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.