Realty Management Division, Residential Mortgage Asset Management, REO Closer, Associate - Dallas
The Realty Management Division (RMD) plays an integral role in supporting the firm's real estate investing strategy by providing investment and asset management services globally in the real estate market, partnering with other divisions in the firm to deliver results wherever Goldman Sachs has an interest. RMD serves as an extension to revenue divisions by providing services such as sourcing, acquisition, underwriting and due diligence of distressed and performing real estate and loan assets, asset management, portfolio management and disposition across various property types including office, multi-family, retail and hotel. Our division also manages residential loan portfolios and warehouse repo lines across auto, student, and consumer asset classes while providing structure, pricing and collateral analysis support. We look for individuals who are passionate about real estate and finance, have strong problem solving and analytical skills, and are a great communicators who are eager to make an impact.
RESPONSIBILITIES AND QUALIFICATIONS
Residential Mortgages Asset Management (RMAM) is a business unit within the Realty Management Division (RMD) primarily supporting the Securities division's Mortgage Loan Trading and Investment Banking's Structured Finance desks. RMAM is responsible for directing due diligence (at both the deal and asset levels) and analytics for the acquisitions, sales and securitizations of residential loan portfolios, and ensuring completion of transaction closing requirements. Post trade RMAM is responsible for the Asset management and facilitation of the portfolio's strategies and portfolio performance reporting.
- Work with Servicer(s) of the portfolio for the Closing of the REO Assets including title curative issues
- Evaluate practices at the Servicer(s) to identify potential delays and make recommendations
- Analysis and approval of HUD 1, deeds and other closing documents
Develop and track post-closing audit procedure
- Collaborate with the Analytics team to create and prioritize operational reports pertinent to measuring performance and identifying potential servicing risks
- Meet regularly with the Servicer(s) to review results and make recommendations to improve portfolio performance.
- Review and approve HOA estoppels, ledgers and property tax statements
- Analyze portfolio performance through financial models and forecasting to determine future operational strategies
- Ensure Servicer(s) deliver all performance related reports on schedule as required in the respective Servicing Agreement(s)
- Identify market trends that may impact performance and make strategy recommendations and adjustments
- May be required to assist with annual on-site audits of the Servicer(s)
- Ability to manage inquiries and escalated issues raised by Servicer(s)
- Problem solve complex title/closing issues with Servicer (s)
- Assist in updating departmental policies/procedures; ensure departmental and firm wide guidelines are followed
- Communicate the firm's goals and objectives
- Perform other duties as assigned
Minimum 7 years of extensive residential REO portfolio management or REO servicing experience, with a expertise in various components of REO management including real estate contracts, title curative, and closing documents with additional knowledge of Default Servicing (foreclosure, bankruptcy, loss mitigation)
- Ability to manage performance of Servicer(s) to meet corporate objectives.
- Independent thinker who will be proactive, assertive and professional in dealings with internal/external business partners, other RMD/RMAM teams, and senior managers; be able to work under pressure and deliver exceptional results
- Possess excellent time management/organizational skills with a keen eye toward attention to detail
- Must have ability to handle a high-stress, fast-paced environment, and deadlines with minimum supervision
- Successfully meet established project requirements and deadlines
- Must have ability to work independently and multi-task
- Strong ability to organize, analyze and interpret legal and compliance related materials
- Self-confident, possess good judgment, and sound decision making and problem solving skills
- Outstanding initiative and excellent communication/presentation skills (both verbal and written)
- Advanced proficiencies in MS Excel
- Capable of recommending modifications to existing policies/procedures to control risk and improve performance/efficiencies
- Must have ability to travel and work extended hours as needed
- Prior experience as a Title or Escrow Officer is a plus
ABOUT GOLDMAN SACHS
The Goldman Sachs Group, Inc. is a leading global investment banking, securities and investment management firm that provides a wide range of financial services to a substantial and diversified client base that includes corporations, financial institutions, governments and individuals. Founded in 1869, the firm is headquartered in New York and maintains offices in all major financial centers around the world.
© The Goldman Sachs Group, Inc., 2018. All rights reserved Goldman Sachs is an equal employment/affirmative action employer Female/Minority/Disability/Vet.
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