JOB SUMMARY/OVERVIEW
This position serves as a representative of Statebridge Company, LLC, and will specialize in negotiating loss mitigation workouts on commercial and business purpose loans that result in the best strategy for both the borrower and the investor. The Commercial/Business Purpose Loss Mitigation Specialist provides first-class customer service to the borrower and client, ensuring that all actions are taken in the best interest of all parties and in accordance with applicable deal documents and investor guidelines.
ESSENTIAL DUTIES/RESPONSIBILITIES
● Review and interpret deal documents — including loan agreements, promissory notes, participation agreements, pooling and servicing agreements (PSAs), and intercreditor agreements — to determine permissible loss mitigation options, approval requirements, and investor notification obligations prior to offering or approving any workout.
● Ensure all loss mitigation actions are executed in strict accordance with applicable investor guidelines, client servicing agreements, and deal document provisions, escalating conflicts or ambiguities to management and legal counsel as appropriate.
● Timely review loss mitigation packages to determine if the borrower qualifies for a loss mitigation option, applying the eligibility criteria and workout parameters set forth in the governing deal documents and investor guidelines.
● Educate customers about applicable workout options including loan modifications, forbearance plans, repayment plans, note sales, deed-in-lieu of foreclosure, short sales, and discounted payoffs, as permitted under the relevant deal documents.
● Underwrite the borrower's financial position through analysis of business financial statements, tax returns, rent rolls, operating statements, accounts receivable/payable aging reports, business plans, and other applicable commercial credit documentation.
● Analyze collateral value through review of appraisals, broker price opinions (BPOs), property inspection reports, and environmental assessments as applicable to assess net realizable value and inform workout structuring.
● Facilitate loss mitigation workout options such as loan modifications (rate, term, and/or principal adjustments), forbearance agreements, repayment plans, short sales, discounted payoffs, and deeds in lieu of foreclosure.
● Decision files based on delegation of authority as defined in deal documents or internal policy, and present workout recommendations to investor/client for approval when required.
● Review investor waterfalls, cash flow distribution provisions, and loss allocation structures in deal documents to ensure proposed workouts are structured consistently with contractual obligations and present terms to investors/clients for approval as required.
● Coordinate with legal counsel, special servicers, co-lenders, and other deal parties on complex commercial workouts involving multiple tranches, participation interests, or intercreditor arrangements.
● Assess loan covenant compliance, maturity defaults, cash management triggers, and other structural default provisions unique to commercial loan agreements when evaluating workout eligibility and strategy.
● Monitor status of repayment plans, forbearance plans, and other active workout agreements to ensure borrower compliance and timely advancement through the loss mitigation process.
● Proactively make outbound and receive inbound calls on accounts to sustain pipeline, ensuring options are moving forward and borrowers are meeting their obligations under applicable workout agreements.
● Maintain thorough and accurate documentation of all loss mitigation activities, deal document interpretations, investor communications, and workout decisions in the servicing system of record.
● Ability to speak professionally and pass QA compliance telephone audits.
● Update clients and investors on loss mitigation activities, strategies, and pipeline status on a regular cadence consistent with servicing agreement requirements.
● Stay current on applicable state and federal laws, regulations, and industry developments affecting commercial and business purpose loan servicing and loss mitigation, including but not limited to UCC provisions, state foreclosure law variations, and applicable CFPB guidance.
Other projects and responsibilities may be added at the manager's discretion
JOB REQUIREMENTS AND QUALIFICATIONS
Education: Bachelor’s degree (B.A./B.S.) in Finance or equivalent Business Administration, Real Estate, or related field; or equivalent combination of education and experience.
Training Requirements (licenses, programs, or certificates): None required; industry designations such as CCTS, CMB, or similar commercial real estate/finance credentials considered a plus.
Experience:
● 5 or more years of loss mitigation experience required, with direct experience on commercial, business purpose, or investor real estate loans strongly preferred.
● Demonstrated experience reading and interpreting complex deal documents including loan agreements, PSAs, participation agreements, and intercreditor agreements required.
● Experience with commercial credit underwriting, including analysis of business financial statements, rent rolls, and operating statements preferred.
● 2 or more years of borrower or client contact experience in a commercial or business purpose servicing environment preferred.
● Intermediate to advanced math and financial analysis skills required.
● Knowledge of UCC Article 9, commercial foreclosure processes, receiverships, and other commercial default remedies preferred.
● Knowledge of CFPB, FCRA, FDCPA, and applicable state lending and servicing laws required.
● Experience with GSE guidelines preferred; experience with private-label or non-agency commercial servicing agreements a plus.
● Knowledge of Federal Bankruptcy Laws and their application to commercial borrowers preferred.
● NMLS Licensing preferred where applicable.
● Strong verbal and written communication skills, including the ability to communicate complex deal document provisions and workout recommendations clearly to borrowers, investors, clients, and internal stakeholders.
● Strong organizational and critical thinking skills, with a keen sense of urgency and the ability to manage multiple tasks, competing deadlines, and competing investor/client priorities with close attention to detail.
Other Knowledge, Skills and Abilities: Word, Excel, Financial Calculators
WORK ENVIRONMENT/OTHER INFORMATION
· Fast-paced environment requiring management of a complex pipeline of commercial and business purpose loan workouts across multiple investors and deal structures.
· Work independently and apply sound commercial judgment and creative problem-solving to negotiate the best possible outcome for all parties within the constraints of deal documents and investor guidelines.
· The work environment characteristics described here are representative of those an employee encounters while performing the essential functions of this job. Reasonable accommodations may be made to enable individuals with disabilities to perform the essential functions.
· The physical demands described here are representative of those that must be met by an employee to successfully perform the essential functions of this job. Reasonable accommodations may be made to enable individuals with disabilities to perform the essential functions.
· The above job description is not intended to be an all-inclusive list of duties and standards of the position. Incumbents will follow any other instructions, and perform any other related duties, as assigned by their supervisor.
Job Type: Full-time
Pay: $70,000.00 - $85,000.00 per year
Benefits:
- 401(k)
- Dental insurance
- Health insurance
- Paid time off
- Vision insurance
Education:
Experience:
- Loss Mitigation: 2 years (Preferred)
- Loan Origination/Underwriting: 1 year (Preferred)
Work Location: In person
