Asset Manager, Commercial Servicing

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.

• 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.

• 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.
• 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.
• Escalate items appropriately to Senior Asset Manager(s) and Manager.
• 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
• Insurance Loss Processing
• Insurance Non-Compliance Resolution and Waivers
• Lender Placed Insurance
• Loan Maturity Extension
• Loan Modification
• Partial Release of Collateral
• Property Management Change

• 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.

• Demonstrates positive attitude, adds to a positive team morale,…