Loan Servicing and Loss Mitigation Specialist

At Asset Based Lending, LLC (ABL), we’re building one of the top hard money lenders in the nation and that starts with inspired, talented, and driven leaders. It starts with you! If you would like to be a part of the most innovative hard money lenders in the business and have a passion for real estate, you have found the right place.

Leading investment manager and hard money lender, Asset Based Lending (ABL), is looking for a Servicing & Loss Mitigation Specialist to support our Operations Department in Jersey City, NJ.

The primary responsibility of this servicing & loss mitigation specialist is to manage a pipeline of closed loans while strategically planning / developing improvements in overall loan servicing operations.

As a key member of our Operations team, this person will have a variety of responsibilities related to managing the life cycle of closed loans, from boarding to pay off with a focus on delinquency & foreclosure and extension management.

The servicing & loss mitigation specialist will also assist in facilitating construction draws while ensuring compliance with ABL’s policies and procedures and state/county/town requirements. This includes analyzing budgets & draw schedules, daily interaction with borrowers, inspectors, contractors, and various other third parties; and meticulously reviewing inspection reports.

ADDITIONAL JOB RESPONSIBILITIES

· Requesting inspections, reviewing reports, processing draws

· Analyze, perform outreach, and report on project delays / loans that have not drawn in 90 days

· Manage delinquency and aged loans portfolio monthly, report on delinquency trends, and make recommendations to senior management on resolutions.

· Prepare notice of intent to foreclose referrals, ensure correct foreclosure attorney is assigned

· Ensure foreclosure referral checklist is completed accurately and in a timely manner

· Monitor foreclosure pipeline, ensuring minimal to no delays in meeting foreclosure milestones.

· Serve as the single point of contact between ABL’s foreclosure attorneys; review and complete necessary documents related to foreclosure loans.

· Assist in refining ‘watchlist’ criteria and metrics related to loans in bad standing

· Daily communication with borrowers providing general customer service support

· Work closely with internal accounting department for reconciliation

· Interfacing with mortgage servicers, loan buyers, and other key external stakeholders

· Produce remittance and reconciliation reports

QUALIFICATIONS

· 4 years’ experience in mortgage industry; private lending experience preferred, but not required

· Strong work ethic and desire to learn new skills

· Technologically proficient including MS Excel and other reporting/database systems

· Intermediate Excel Skills

· Ability to work in a fast-paced environment with strict adherence to deadlines

· Team-player mentality

· Excellent communication skills, both written and verbal

· 4-year college degree

ABOUT ABL:

Established in 2010, Asset Based Lending, LLC is a Hard Money Lender providing fast bridge financing to real estate investors. We've experienced tremendous growth in the last 11 years, closing over 3,000 loans for proceeds in excess of $1 billion and being named one of Inc Magazines fastest growing private companies.

For more information, please visit www.abl1.net.

Job Type: Full-time

Pay: $70,000.00 - $90,000.00 per year

Schedule:

• Monday to Friday

Ability to commute/relocate:

• Jersey City, NJ 07302: Reliably commute or planning to relocate before starting work (Required)

Work Location: One location