RTL Special Assets Manager

Job Description

Job Description

We are seeking an experienced RTL Special Assets Manager to join our growing team. This role is critical to protecting capital and maximizing recovery across a portfolio of Residential Transitional Loans. The ideal candidate brings deep expertise in loan workouts, collateral resolution, and risk mitigation within short-term residential credit.

As an RTL Special Assets Manger, you will play a key role in managing and resolving non-performing and high-risk residential bridge and fix-and-flip loans. You will work closely with senior leadership, legal counsel, servicing partners, and capital partners to develop and execute strategic resolutions that minimize loss while preserving long-term relationships where possible.

Builders Capital Exchange is one of the fastest-growing private money lending firms in the United States. Our mission is to help real estate investors profitably scale their business by offering a best-in-class suite of loan products and leveraging top talent. Being one of the nation's most established private money lenders, we originate $5B in loan volume annually.

What You'll Do:

• Responsible for servicing and managing a portfolio of non-performing and high-risk Residential Transitional Loans (RTL), including pre-workout credits, downgraded loans, defaulted loans, and loans in legal proceedings, with the objective of minimizing losses and liability while ensuring compliance with BC policies and applicable regulations.
• Under the direction manage and resolve RTL special assets through borrower rehabilitation, loan modification, foreclosure, sale, or liquidation, including oversight of past-due balances, covenant compliance, and borrower performance.
• Develop and execute RTL-specific workout strategies, adjusting aggressiveness based on borrower capacity, project status, collateral condition, and market dynamics.
• Perform periodic and event-driven problem loan analysis on assigned RTL credits; identify risks, assess collateral and exit viability, and recommend appropriate resolution strategies to senior management.
• Evaluate and recommend RTL workout options, including loan modifications, extensions, interest reserve adjustments, collateral liquidation, legal action, receivership, foreclosure, deed-in-lieu, OREO disposition, and pursuit of guaranties or credit enhancements.
• Calculate and recommend impairment reserves and charge-offs in accordance with GAAP, BC policy, and regulatory guidance applicable to short-term residential credit.
• Provide recommendations to senior management on policy and procedure enhancements related to RTL problem loans, impairment methodology, and workout best practices.
• Manage all aspects of OREO assets arising from RTL loans, including 4-6 unit residential properties under renovation or stabilization, coordinating valuations, property management, and disposition strategies.
• Assist senior management in evaluating collateral value, construction progress, loan documentation, borrower financials, and guarantor strength in light of current housing and capital market conditions.
• Execute strategies to reduce non-performing RTL assets at the lowest possible cost and risk, balancing net credit losses, carrying costs, market conditions, and administrative expenses.
• Present RTL workout and exit strategies to management and capital partners for approval, supported by clear financial, collateral, and risk analysis.
• Maintain accurate risk ratings, accrual status, and Problem Loan Reports (PLRs) for all RTL problem loans, ensuring timely and transparent reporting to senior leadership and investors.
• Maintain awareness of housing market trends, construction costs, liquidity conditions, and investor demand impacting RTL portfolio performance.
• Perform other duties as assigned to support the objectives of the Special Assets function and BC’s RTL lending platform.

Requirements

• Minimum 5+ years of experience in special assets, credit workouts, loan servicing, or asset management with a strong focus on Residential Transitional Loans (RTL), bridge, or fix-and-flip lending.
• Demonstrated expertise in workout strategies, foreclosure processes, collateral liquidation, and OREO management for 4-6 unit residential properties.
• Strong working knowledge of GAAP impairment analysis, charge-offs, risk ratings, and accrual accounting related to residential credit.
• Ability to analyze borrower financials, guarantor strength, project budgets, construction draws, and collateral valuations to determine optimal resolution strategies.
• Proven experience coordinating with legal counsel, servicers, brokers, investors, and internal credit teams to execute complex loan resolutions.
• Excellent written and verbal communication skills with the ability to present clear, well-supported recommendations to senior management and capital partners.

Benefits

• Innovative Environment - Join a forward-thinking company at the forefront of the construction finance industry, with access to cutting-edge technology and resources.
• Work Flexibility - Enjoy a flexible work environment that allows you to balance professional responsibilities with personal life.
• National Impact - Be part of a nationwide operation shaping the future of construction financing and making a meaningful impact for builders, developers, and homeowners across the U.S.
• Health Insurance - Builders Capital Exchange pays 100% of medical insurance premiums, offering both PPO and HSA plan options.
• Competitive Compensation - We offer competitive wages that reflect your expertise and performance.
• Paid Time Off - Recharge with 3 weeks of paid time off annually.
• Paid Holidays - Enjoy 10 paid holidays each year.

We’re here to support you both professionally and personally-because when you thrive, we all thrive.

Builders Capital Exchange is an Equal Opportunity Employer (EEO) and welcomes all qualified applicants. This is a full-time, exempt position. The job description contained herein is not intended to be a comprehensive list of duties and responsibilities and may change without notice.