General Portfolio -
- Analyze, underwrite and make formal recommendations regarding various borrower requests, including but not limited to requests for loan modifications, collateral releases, prepayment, maturity extensions and sales/assumptions.
- Analyze and process borrower requests for releases of funds from various reserve accounts, including but not limited to reserves for replacing capital items.
- Interface with Property Managers, Borrowers, or other paying agents in the collection of delinquent loan payments, as well as the reporting of same. Prepare formal demand letters and notices of default for review by lender or management.
- Analyze asset performance and assign loan risk rating. Participate in presenting new grade recommendations to management.
- Monitor borrower compliance with loan documents to ensure loan covenant compliance requirements are managed effectively.
- Assess loan risk within the portfolio and make recommendations to senior management to mitigate the risk.
- Review and interpret legal documents, such as loan agreements, guarantees, and promissory notes, and coordinate with borrower and respective staff to ensure the loans remain in compliance.
- Analyze and support the processing of proceeds from insurance loss claims. Oversee disposition of insurance proceeds, in accordance with loan documentation and risk mitigation practices.
- Supervise and train Asset Analysts in the performance of their respective duties.
- Assist senior management in ensuring regulatory and contractual compliance within the department.
- Ensure compliance with the company Policies and Procedures.
Workout / Elevated Risk Loan Positions-
- Formulate effective loss mitigation strategies; implement the proposed strategy and monitor ongoing effectiveness.
- Effectively communicate Workout portfolio updates to senior management and leadership.
- Partner with internal and external legal counsel as needed.
- Effective and consistent ongoing communication with borrowers to gather information and to ensure the proposed loss mitigation strategy is being followed accordingly.
- Work closely with borrowers, property management agents, external and internal parties to identify and create solutions to credit weakness, emerging risks, performance defaults and monetary defaults.
- Prepare action plans and/or recommendations on troubled assets and REO positions for presentation to senior management and investors.
- Responsible for the workout and collection of adversely graded loans through restructuring of debt, negotiation of settlement agreements, pursuit of appropriate legal action and/or the liquidation of collateral.
Reporting -
- Perform and/or review property site inspections to ensure appropriate maintenance practices by borrowers (as required).
- Review and monitor maturing and delinquent loans on a daily basis.
- Prepare and provide monthly / quarterly reports for executive teams and investors.
- Monitor capital improvement projects to ensure timely completion within budgets.
Required Skills And Competencies:
The requirements listed below are representative of the knowledge, skill and/or ability required.
• Eight years of experience with commercial real estate, with at least three of those years being with asset management and/or finance. Experience with REO's and commercial loan workouts, preferred.
• Good written and verbal communication skills.
• Ability to travel, occasionally overnight.
• Strong working knowledge of loan accounting concepts, including interest accrual methodologies and amortization.
• Ability to read and comprehend provisions of common commercial real estate loan documents.
• Intermediate-level skills with Microsoft Excel and Microsoft Word.
• Master of Business Administration from an accredited college or university or equivalent experience.
