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VWH Capital Management, LP (“VWH”) is an SEC-registered investment advisor and private equity firm with multi-billion dollars in assets under management. The firm is the winner of the 2023 Private Equity Wire US Emerging Manager Award for Best Performance: Debt. VWH is a major player in the U.S. distressed residential mortgage loan space and seeks to generate long-term returns in securitized products, distressed credit, and whole loans. VWH is headquartered in Dallas. For more information visit www.vwhcapital.com.
Job Description
VWH is seeking an Associate, Asset Management to drive positive outcomes for the non-performing residential mortgages and related products held by the firm. The ideal candidate will ultimately develop a skillset in multiple facets of the asset management process – from due diligence through disposition across multiple product types.
This position will be responsible for supporting the management and oversight of servicers for default servicing related functions, primarily loss mitigation, servicing processes, title curative, and property strategy. In addition, the Associate will support the management of collateral related processes involving holding, assigning, and transfer methods for mortgage loans and REO through the lifecycle of asset management.
The position requires skilled knowledge of default servicing practices and state/federal regulations. The ideal candidate will support the Asset Management team in working with the trading team to conduct pre-bidding and post-trade due diligence analysis and will assist in the coordination / monitoring of our 3rd party vendors to ensure accurate mortgage information is documented and sent timely to our servicers.
Responsibilities
- Perform portfolio oversight functions in order to improve performance, create optimal strategies, and maximize economic execution
- Identify issues in due diligence risk scoring of new trades including, but not limited to title, collateral, default servicing practices, and property issues
- Actively review assets that meet repurchase criteria and consolidate/document for repurchase submission, if applicable; coordinate internally and with counterparties for reprices/repurchases
- Assist in the management of vendors and servicers to ensure applicable collateral documents are in place for buy/sell transactions; ensure appropriate assignment chains are being reported and completed on a timely basis
- Proactively assist in the management of title exceptions and determine curative strategies
- Assist in defining budgets and strategies for escalated files
- Monitor Key Performance Indicators (KPI)/Service Level Agreements (SLA) and drive resolution on items that fall outside of tolerance
- Partner with the VWH Analytics team to create and maintain vendor and asset level scorecards in order to proactively monitor performance
- Assist in the review of reporting from vendors, custodians, and servicers to ensure performance adheres to agreed upon service levels
- Be current and stay familiar with state and federal regulations and recent case law
- Prepare and analyze reports for Senior Management review
- Prepare policies and procedures for Senior Management review
- Other duties as assigned
Qualifications
- Minimum of 4 years of experience in managing default servicing processes (loss mitigation, foreclosure, bankruptcy, litigation, title, collateral). Property preservation, real estate valuation, and REO experience is not required but is a plus
- Additional experience in business purpose loans, early buyout (EBO) loans, and auto loans is not required but is a plus
- Working knowledge of mortgage servicing and associated systems such as LPS, Black Knight, MSP, and Pyramid
- Familiar with mortgage loan collateral documents, especially notes, title policies, title reports, title commitments, and assignments and endorsements
- Ability to create policies and procedures and suggest areas to improve
- Ability to combine data from multiple sources to create singular reports
- Ability to work independently and be a self-starter
- Strong client services skills and ability to work as a team with internal and external counterparties
- High sense of urgency, accountability, attention to detail, prioritization skills, and organization
- Strong working knowledge of MS Office Suite, especially Excel, Word, and Outlook. Relational database and business intelligence software experience is a plus
- Ability to work in Uptown Dallas office
Additional Information
VWH offers competitive compensation including base salary and a discretionary performance bonus. VWH has a compelling benefits package, including medical, dental, and vision insurance, a 401(k) plan, and generous paid time off.
VWH Capital Management, LP is an equal opportunity employer. Qualified applicants will receive consideration without regard to their race, color, religion, sex, sexual orientation, gender identity, national origin, disability, status as a protected veteran, or any other characteristic prohibited by applicable law.
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