Agency Asset Manager

Overview

At Northmarq, you can be part of something special. Northmarq is a unique capital markets resource for commercial real estate investors, providing our clients access to experts in debt, equity, investment sales, loan servicing, and fund management. We offer you a career path with best-in-class training, and we foster inclusive teams committed to collaboration, mentoring, and growth. Our team will help you unlock your potential—whether you are an industry veteran or just getting started.

Northmarq was voted by Real Estate Forum as one of The Best Places to Work in Commercial Real Estate.

Northmarq is seeking an experienced Agency Asset Manager to join our Servicing team in our Bloomington office. This position requires a deadline-driven, service-focused, and detail-oriented individual who will be responsible for underwriting borrower consent requests, mentoring and training others within the department, calculating/coordinating loan payoffs, new loan audits, financial statement and rent roll analysis, watchlist monitoring, reserve disbursement requests, processing insurance losses, and satisfying investor requirements.

Focus will be on commercial mortgage risk management and customer service. Additional responsibilities may be added to align with department strategies and objectives.

* This position offers a flexible work environment and is available for an immediate start.

• Manage a portfolio of increasingly complex commercial real estate loans while strengthening relationships with key lenders and supporting senior team members on more complex loans.
• Work with Freddie Mac lenders, companies, private clients, and investment lenders, providing a personalized, client-centric experience tailored to each lender’s guidelines and requirements.
• Provide premier customer service to lenders, borrowers, other servicing staff, and regional offices.
• Audit new loan boarding and setup to ensure loan terms and covenants are accurately captured in the servicing system.
• Perform other reasonable tasks/projects as assigned within the department.
• Review and make recommendations for releases from reserves including capital expenditure, repair, debt service reserve, rental achievement, TI/LC, and insurance loss.
• Analyze annual and quarterly financial statements for multifamily and commercial properties in accordance with Freddie Mac and conduit lender requirements.
• Calculate and coordinate loan payoff requests, including yield maintenance calculations.
• Coordinate with legal counsel and borrowers to document and close transactions upon final lender approval.
• Monitor and update monthly loan reports used by lenders and management to analyze portfolio risk.
• Process insurance loss requests, manage proceeds, and monitor property restoration.
• Follow up with borrowers to resolve post-closing deferred maintenance items or other high-risk items identified during annual inspections.
• Follow up with borrowers regarding variances and general income and expense questions.
• Analyze and recommend lender consent for borrower requests, including lease approvals, maturity extensions, partial releases/substitutions of collateral, easements, condemnations, and ownership transfers.
• Manage a portfolio of Freddie Mac loans with varying requirements and regulations.
• Monitor and collect outstanding mortgage payments, documenting collection efforts.
• Assist Manager(s) with monitoring team tasks, reviewing write-ups/recommendations, quality control, and lender feedback.
• Provide training and mentoring across the team on risk management, underwriting, and general CRE knowledge.
• Minimal travel for lender visits or industry events (1-3 times per year).
• May participate in department strategic initiatives and serve on procedure committees updating policies for the Portfolio & Asset Management Department.
• Assist team members on advanced or complicated consent requests and review property repair verification inspections conducted by third-party vendors and regional offices.
• Strategically manage workload to uphold portfolio standards and align with departmental objectives.

• Bachelor’s Degree, preferably in…