Asset Manager, Commercial Servicing - United States

The Asset Manager, Commercial Servicing will provide proactive monitoring and surveillance of assigned assets securing Commercial Real Estate ("CRE") loans. This is an individual contributor role that reports to a manager and will work hand-in-hand with various internal business ...

Job description

The Asset Manager, Commercial Servicing will provide proactive monitoring and surveillance of assigned assets securing Commercial Real Estate ("CRE") loans. This is an individual contributor role that reports to a manager and will work hand-in-hand with various internal business units. The Asset Manager will serve as the point of contact for the borrower and the assigned investor(s), provide oversight of an assigned portfolio, facilitate borrower requests, monitor and enforce loan covenants, resolve insurance non-compliance, complete financial analyses, delinquency resolution, and other responsibilities as need arises. This position requires the ability to provide best-in-industry customer service, , interpret loan documents, compliance, quality control, and resolve a wide spectrum of borrower-related inquiries related to commercial loan servicing. This is a customer-facing position, and all interactions must be handled with a high degree of professionalism, courteous customer service, and promptness. Individuals in this role are required to adhere to investor servicing guidelines and internal policies and procedures.

Job Responsibilities and Requirements

Customer Service:

• Act as the primary contact for the borrower, investor, related third parties, and various internal business units in order to resolve all inquiries and servicing functions for the loan.
• Maintain professionalism during all interactions.
  Demonstrated ability to initiate difficult conversations while maintaining best-in-class customer service.

Portfolio and Asset Oversight and Servicing:

• Quality Control check of loan boarding to ensure accuracy.
• Identify & monitor loan covenants for borrower compliance to include letter of credit monitoring, cash management provisions, waterfall allocation, DSCR testing, occupancy triggers, etc.
• Monitor Letters of Credit for expiration.
• Interpret and work effectively with large data sets.
• Monitoring of escrow and reserve functions within the CRE environment.
• Work within a CRE loan servicing system and maintain data integrity.
• Read, understand, and proactively monitor rent rolls, financial statements, property inspections, and other documents in order to address potential performance issues before they arise.
• Working knowledge of CRE loan participations.
• Working knowledge of CRE insurance coverage requirements.
• Spread and analyze property level financial statements.
• Create a pro forma based upon historical property performance.
• Work closely with borrowers and investors to resolve delinquent payment issues as they arise.
• Generate an amortization table and calculate various loan accounting items including, but not limited to, interest, default interest, prepayment premiums, yield maintenance, and escrow constants.
• Create, maintain, and monitor investor level watchlist.
• Review loan draws submitted by the Borrower for accuracy and overall construction / renovation schedules.
• Administer construction / rehab loan covenants, including periodic review of construction/rehab work schedule, progress reports and inspections, property stabilization performance schedules, budgets, and borrower equity earnout provisions.
• Proactive engagement with borrower regarding exit strategy and current market conditions as projects progress towards maturity.
• Escalate items appropriately to Senior Asset Manager(s) and Manager.
  Prepare and Collaborate with Investor Reporting for CREF-C Reporting Packages

Complete Borrowers Requests:

• Read and interpret CRE loan documents to determine Borrower Request eligibility.
• Discuss and engage in conversations with borrowers and investors regarding borrower request submissions, requirements, and resolution.
• Complete presentation-level write-ups and recommendations for various types of borrower requests.
• General familiarity with the following requests, documentation requirements, and processes:
• Assumption
• Collateral Substitution
• Insurance Loss Processing
• Insurance Non-Compliance Resolution and Waivers
• Lender Placed Insurance
• Loan Maturity Extension
• Loan Modification
• Partial Release of Collateral
  Property Management Change

Other Responsibilities and Requirements:

• Adapt quickly to various requests from multiple sources.
• Prioritize multiple, simultaneous incoming requests.
• Generate reports for investors as required.
• Coordinate with internal departments for servicing functions as required.
• Review and update internal policies and procedures as required.
• Assist with audits as requested.
• Other duties as assigned.

Qualifications:

• Demonstrates positive attitude, adds to a positive team morale, and is eager to take on and learn new things
• Four-year degree from an accredited University preferred or equivalent work experience
• Minimum of 5 years of CRE loan servicing experience required
• Familiarity with the full CRE loan life cycle from onboarding through Mortgage Satisfaction.
• High attention to detail
• Knowledgeable in Word, Excel, Outlook, CoPilot, and other information processing programs
• Bilingual (English and Spanish) is considered a plus
• Self-motivated and work independently
• Ability to perform complex calculations using calculators and systems is required
• Ability to reason and exercise sound judgment
• Ability to handle sensitive and confidential information appropriately
• Outstanding communications skills (including verbal, written and listening skills), with an emphasis on strong customer service, professional relationship building skills, conflict resolution, and having difficult conversations
  Previous experience with REALSynergy servicing system is considered a plus

Training / Licensing Requirements:

Must pass the Company's Background Screening process prior to beginning employment. Additionally, as a condition of employment, you may be required to pass client-specific background check requirements or Federal/State licensing requirements, if applicable.

The salary range for this position is expected to be $64,000 to $80,000 per year, depending on geographic location, experience, and other qualifications of the successful candidate. This position is also eligible for annual bonus of 10% based on performance and subject to the terms of the Company's applicable plans.