Asset Manager Oversight

Job Summary
Responsible for the effective daily management of nonperforming (NP) or scratch and dent (S&D) pools beginning at purchase and continuous to include delinquent assets. The Asset Manager will administer, implement and track client-approved strategies regarding all assets in assigned portfolio and make strategy recommendations when pools are producing less than satisfactory results.

Scope of Responsibilities and Authority to Act
On a daily basis, consults with Lehman Desk Partners on non-performing pools by recommending appropriate alternatives to cure or reduce company risk. Will partner with the appropriate servicing teams to include Loss Mitigation and/or Work-out Specialists to effectuate more focused penetration on a particular portfolio. In addition, will analyze proposed loan pools to establish values to be considered in setting pool purchase price. Will analyze portfolios as well as individual assets and clients. Will prioritize portfolios and track events.


Six Essential Functions or Major Duties

Duties (List in order of importance)
1. Monitors pool performance on a daily basis to flag potential problems with the pools; Works with Lehman desk to recommend strategies to improve and expedite pool performance minimizing the Firm's losses i.e. auctions, increasing sale commissions.
2. Analyzes and validates non-performing portion of new loan pool purchases establishing values on the non-performing loans utilizing valuation web-sites and Broker Price Listings. Communicates outcome to Lehman Desk.
3. Partners with other areas in Servicing when issues are raised making recommendations for alternative ways to manage pools and/or loans.
4. Prepares, analyses and reconciles internal and external reporting for the Lehman Desk Trader to include but not limited to Trackers, NP Summaries, P&I Remittance and Desk.
5. Acts as liaison for servicing transfers to enable smooth transitions from interim servicer to primary servicer to include working directly with Aurora servicing partners to facilitate the transition.
6. Oversees pool performance for additional portfolios as necessary such as SBA and/or HUD 601 REO assets.
7. May perform other related duties as required.

Minimum Qualifications

Education:
High School or equivalent experience required.
Experience:

Must have REO experience.

Five - eight years previous mortgage servicing experience ideally in default mortgage loans.

Specialized Skills & Knowledge:

Intermediate to advanced skills with spreadsheet applications. Analytical, objective abilities which must be counterbalanced by effective communication and good listening. Strong sense of good business ethics to include an appropriate sense of urgency and necessity for escalation.

Physical Requirements:

Visual acuity to view computer screen. Finger dexterity to input and manage complex data and spreadsheets using mouse and/or keyboard. May occasionally lift bankers' boxes of defaulted loan files. Boxes may weigh up to 35 lbs. Must be able to sit in front of computer monitor for extended period of time. Must be able to speak clearly and communicate articulately to co-workers, clients and others both internal and external to the Firm.


Supervision Exercised:
Titles of Direct Reports:

This position will have no direct reports.

Titles of Indirect Reports:

This position will have no indirect reports.


Internal/External Contacts

Lehman Desk Partners to include SVP, Other Asset Managers, other employees in Special Servicing group; Legal Department, Appraisal Review Department, Underwriting, Credit Policy and others in the Firm involved in Risk Management. Legal counsel, loan servicers, professionals in mortgage banking and real estate.
~MSALS~




Lehman Brothers is an equal opportunity/affirmative action employer.

The Firm and its affiliates do not discriminate in employment because of race, color, religion, gender, national origin, veteran status, disability, age, citizenship, marital or domestic/civil partnership status, sexual orientation, gender identity or expression or because of any other criteria prohibited under controlling federal, state or local law.

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