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Senior Asset Manager - Plano, United States - Newpoint Real Estate Capital
Description
This position is responsible for the oversight of his/her assigned commercial mortgage loans, focusing on multi-family housing (Fannie Mae and Freddie Mac).
With primary responsibilities for borrower credit requests and ensuring the continued financial viability of the underlying real estate collateral, s/he works with the Managing Director, Asset Management and his/her colleagues to optimize the use of technology, define and implement best practices and consistently achieve Key Performance Indicators.
Duties and responsibilitiesAnalyze, underwrite and process borrower requests, including modifications of loan terms, easements, changes of property management firms, and releases of and transfers of collateral
Working in conjunction with the Surveillance team, ensure that borrowers remain compliant with loan documents, including preserving the collateral and making all required repairs within the specified time frame
Analyze property rent rolls and financial reports to confirm effective gross income, net operating income, debt service coverage, loan to value, physical and economic occupancy, and other relevant performance metrics
Conduct annual property inspections and/or review third-party inspections for properties located nationwide and ensure borrower addresses any noted deferred maintenance
Evaluate casualty losses and recommend appropriate course of action regarding use of insurance proceeds in compliance with loan documents
Maintain a working knowledge of relevant local and regional market conditions to understand possible impacts to the collateral
As needed, analyze the strengths of and credit risks associated with individual and entity sponsors and owners
Make recommendations regarding monetary and performance/covenant defaults
As needed, perform analysis of the credit quality of the property, utilizing industry-standard real estate and financing analysis methods
Produce investor reports regarding the physical collateral, the credit risk associated with the loan, and specific action plans or recommendations for the lender
Assist in mentoring and developing junior associates on the team
Participate in servicing and other company projects as requested.
Qualifications
Knowledge of all aspects of commercial mortgage loan oversight, preferably in a cross-functional team environment, including but not limited to:
Commercial real estate valuation and underwriting
Loan closing and boarding, billing and collections
Loan documents, including covenants and triggers
Letters of credit, reserves, UCCs, liens
Loan modifications; property easements, releases, ownership transfers
Lease abstracting and analysis
Commercial property management practices
Property financial statement and rent roll analysis
Property inspections and subsequent repairs, deferred maintenance
Maturing loans and loan payoffs, loan defaults
Strong leadership and problem-solving abilities
Exceptional verbal and written communications skills
Accuracy oriented with a sense of urgency and strong focus on customer service
Strong interpersonal and organizational skills
BBA in Finance, Real Estate or Accounting preferred, MBA a plus
7 years of loan servicing experience, predominantly commercial real estate loan servicing for multiple capital sources/investors, particularly GSEs
Working knowledge of commercial real estate finance including an understanding of all types of loans, property types and real estate lenders
Demonstrated ability to succeed in an environment of uneven/cyclical workloads and tight deadlines
Development of and management to Key Performance Indicators
CCIM, CMB, CPM, or MBA CCMS Level I and/or II certification a plus
Working knowledge of Enterprise (or similar large scale servicing system)
Medium to advanced MS Office skills
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