Senior Asset Manager, Commercial Servicing

Overview

This individual contributor role is responsible for proactive monitoring and surveillance of assigned commercial real estate (“CRE”) loan assets. The Senior Asset Manager, Commercial Servicing serves as a point of contact for the borrower and assigned investor(s), oversees an assigned portfolio, and facilitates borrower requests. The role also ensures investor servicing compliance by monitoring and enforcing loan covenants, resolving insurance non-compliance, and completing financial analyses and delinquency resolutions.

Responsibilities include acting as an escalation point for questions and inquiries from external clients and internal staff. The position is customer-facing and requires a high degree of professionalism, courteous service, promptness, and adherence to investor servicing guidelines, internal policies, and procedures.

Responsibilities

Customer Service

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

Portfolio and Asset Oversight and Servicing

• Perform quality control checks of loan boarding against loan documents to ensure accuracy.
• Coach team members on CRE loan document interpretation.
• Identify and monitor loan covenants for borrower compliance, including:
  • Letter of credit monitoring
  • Cash management provisions
  • Waterfall allocation
  • DSCR testing
  • Occupancy triggers
  • Other applicable covenants
• Monitor letters of credit for expiration.
• Interpret and work effectively with large data sets.
• Conduct expert 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 to address potential performance issues before they arise.
• Apply strong knowledge of CRE loan participations.
• Apply strong knowledge of CRE insurance coverage requirements.
• Spread and analyze property-level financial statements and provide training to Asset Managers for complex assets.
• Create pro forma projections based on historical property performance and provide training to Asset Managers for complex assets.
• Work closely with borrowers and investors to resolve delinquent payment issues as they arise.
• Generate amortization tables and calculate various loan accounting items, including interest, default interest, prepayment premiums, yield maintenance, and escrow constants, with no assistance.
• Create, maintain, and monitor investor-level watchlists.
• Lead client calls and/or meetings reviewing loan performance issues.
• Review loan draws submitted by the Borrower for accuracy and overall construction/renovation schedules; provide training to Asset Managers for complex draws.
• Administer construction/rehab loan covenants, including periodic review of construction/rehab work schedule, progress reports, inspections, property stabilization performance schedules, budgets, and borrower equity earnout provisions.
• Engage proactively with borrowers regarding exit strategy and current market conditions as projects progress toward maturity.
• Escalate items appropriately to the Manager.
• Prepare, collaborate with investor reporting, and review CREF-C Reporting Packages.
• Serve as the first point of contact for all escalations from the team.

Complete Borrower Requests

• Read and interpret CRE loan documents to determine borrower request eligibility.
• Discuss and engage with borrowers and investors regarding borrower request submissions, requirements, and resolution, with no assistance.
• Provide exceptional understanding of additional document requirements for various borrower requests, including the ability to teach and mentor team members.
• Create presentation-level write-ups and recommendations for various types of borrower requests.
• Review and approve write-ups completed by Asset Managers prior to presentation.
• Demonstrate familiarity with the following request types, 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

Additional Responsibilities

• Adapt quickly to 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.
• Lead team trainings.
• Prepare presentations for investors, management, and internal business units.
• Other duties as assigned.

Requirements

• Demonstrates a positive attitude, contributes to 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 8 years of CRE loan servicing experience required; 1–2 years in a leadership position preferred.
• Familiarity with the full CRE loan life cycle from onboarding through Mortgage Satisfaction.
• High attention to detail.
• Strong proficiency in Word, Excel, Outlook, CoPilot, and other information processing programs.
• 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 (verbal, written, and listening), with an emphasis on strong customer service, professional relationship building, conflict resolution, and the ability to handle difficult conversations.
• Self-motivated and works independently.
• Must be able to maintain data integrity and comply with investor servicing guidelines and internal policies/procedures.

Preferred Qualifications

• Bilingual (English and Spanish).
• Previous experience with REALSynergy servicing system.

Training / Licensing Requirements

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

Compensation & Benefits

• Salary range: $85,000 to $110,000 per year, depending on geographic location, experience, and other qualifications of the successful candidate.
• Annual bonus eligibility based on performance and subject to the terms of the company’s applicable plans.
• Comprehensive benefits package including:
  • Medical, dental, and vision
  • Up to 3% match on 401(k) contributions
  • Generous paid time off
  • Company-paid life, accident and disability coverage
  • Programs for mental, physical, and financial wellness

Location

• Geographic location-based compensation applies. (Specific work location not provided in the posting.)