Lead Credit Resolution Specialist - Special Servicing
Location: CHARLOTTE, North Carolina
Type: Full Time
Internal Number: R-302489
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About this role:
Wells Fargo is seeking a Lead Credit Resolution Specialist to support our Commercial Mortgage Servicing (CMS) division. The Lead Credit Resolution Specialist within the CMS Special Servicing team has the responsibility to organize, analyze and update asset and market level data for a variety of real estate transactions in the Wells Fargo CMS - Special Servicing named portfolio (performing and non-performing mortgage loans and real estate owned) which may include fixed or floating rate agency, Commercial Mortgage Backed Securities (CMBS) deals. Learn more about our career areas and lines of business at wellsfargojobs.com.
In this role, you will:
Support complex initiatives including those that are cross functional with broad impact
Work as a key participant in overseeing and providing technical expertise regarding commercial and real estate problem loans for the Loan Workout area
Support the restructure and renegotiate credits with customers, perform financial legal risk evaluations of credits
Review strategies and payment structures formulated by less experienced adjusters and formulate litigation strategy
Strategize and research complex multi-faceted, large-scale, and long-term business challenges of the loan workout initiatives that require in-depth evaluation of multiple factors, including intangibles or unprecedented factors
Make decisions in complex and multi-faceted situations of handling the problem loan portfolio initiatives, policies, procedures, and compliance requirements
Support the work team to meet deliverables and drive new initiatives
Collaborate and consult with peers, colleagues, and mid-level to more experienced managers to resolve sensitive issues and achieve goals
Support projects, teams or serve as a peer mentor
Work with in house and outside Counsel during litigation
Track deal flow and maintain integrity of database of “active” and “watchlist” assets
Ensure that assets are properly recorded and reported on the servicing system
Process new deals for initial setup in database and complex spreadsheets
Perform market research due diligence on underlying collateral
Review and approve of annual operating budgets of loan level property operating statement financial analysis
Analyze rent rolls and determine future lease rollover
Perform loan level compliance reviews
Review and interpret third party reports
Review detailed credit reports and obtain explanations of any major derogatory items
Prepare Asset Status Reports
Evaluate the impact of servicing advance recoveries to the Trust
Communicate progress and immediately elevate any roadblocks to the Asset Manager
Coordinate roll-up and delivery of monthly and quarterly report packages
Employees support our focus on building strong customer relationships balanced with a strong risk mitigating and compliance-driven culture which firmly establishes those disciplines as critical to the success of our customers and company. They are accountable for execution of all applicable risk programs (Credit, Market, Financial Crimes, Operational, Regulatory Compliance), which includes effectively following and adhering to applicable Wells Fargo policies and procedures, appropriately fulfilling risk and compliance obligations, timely and effective escalation, and remediation of issues, and making sound risk decisions. There is emphasis on proactive monitoring, governance, risk identification and escalation, as well as making sound risk decisions commensurate with the business unit’s risk appetite and all risk and compliance program requirements.
5+ years of Credit Resolution experience, or equivalent demonstrated through one or a combination of the following: work experience, training, military experience, education
Advanced knowledge and understanding of credit policy, accounting practices, and procedures
Advanced knowledge and understanding of lending, loan structuring, and financial analysis
Knowledge and understanding of problem loan resolution and workout situations
2+ years of experience in commercial real estate: asset management, finance, underwriting, origination, and/or servicing
Experience in reviewing and analyzing complex loan documents, intercreditor documents and deal documents
Strong credit and risk management exposure
Ability to think strategically and critically evaluate stakeholder value
Knowledge of CMBS, Pooling and Servicing Agreements, Inter-creditor Agreements, Participation Agreements, and all commercial loan documentation
Strong negotiation and influence skills
Commercial loan restructuring and negotiation experience
Excellent verbal, written, and interpersonal communication skills
We’re strong for our customers and communities
Wells Fargo & Company (NYSE: WFC) is a diversified, community-based financial services company with $1.92 trillion in assets. Wells Fargo’s vision is to satisfy our customers’ financial needs and help them succeed financially. Founded in 1852, and headquartered in San Francisco, Wells Fargo provides banking, investment and mortgage products and services, as well as consumer and commercial finance through more than 7,200 locations, more than 13,000 ATMs, the internet (wellsfargo.com), and mobile banking and has offices in 31 countries and territories to support customers who conduct business in the global economy.
Wells Fargo serves one in three households in the United States.
Wells Fargo & Company was ranked No. 30 on Fortune’s 2020 rankings of America’s largest corporations. News, insights, and perspectives from Wells Fargo are available at Wells Fargo Stories.
Additional information may be found at wellsfargo.com?Twitter: @WellsFargo