What are the responsibilities and job description for the Reserves Administrator position at Berkadia?
Are you looking for an opportunity to bring your unique skills and experiences to a leading commercial loan servicer?
Join Berkadia's loan servicing platform and learn from the best of the best at the largest non-bank commercial mortgage servicer in the industry. We provide the personal and professional development opportunities you need to impact the commercial real estate industry, build a career that takes the long view, and reach your full potential. Be Your Best Self. Be Berkadia.
The Reserves Administrator is responsible for analyzing loan documents for complex reserve requests in a timely and accurate manner, and handling Letter of Credit monitoring. This role involves ensuring compliance with loan agreements, maintaining accurate records of reserve transactions, and working closely with clients to manage and release funds appropriately. The administrator also provides support for any inquiries related to the reserves of loans.
We are committed to growing your career, so in this role you will :
- Manage the processing, disbursement, and monitoring of HUD repair and replacement reserve accounts.
- Oversee Letter of Credit processing, including loading new LOCs, sending follow-up communications to borrowers / investors, monitoring LOC due dates, and preparing bank release letters.
- Ensure compliance with Reserve and Letter of Credit requirements by reviewing PSA and other legal documents.
- Generate daily letters to notify borrowers about reserve releases.
- Assist Client Relations Managers by addressing specific inquiries and resolving issues related to reserves.
- Evaluate future funding draw requisitions and compile a recommendation package for the lender, which may include reviewing contracts, change orders, invoices, payment evidence, title updates, financial / leasing updates, and construction budget balancing.
- Provide support to off-site functional units as needed.
- Other duties as assigned.
We are passionate about your growth, so to achieve success in this role you should have :
We believe People Matter, so we offer benefits that go beyond :
Be Your Best Self. Be Berkadia.
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Berkadia, as an equal opportunity employer, celebrates our employees’ unique differences, which we believe drives personal and company-wide innovation and creates a people-first culture where your career can take the long view. To achieve these goals, we are committed to the full inclusion of all qualified individuals, without regard to race, religion, age, color, national origin, gender, sexual orientation, gender identity or expression, marital status, domestic partner status, military and veteran status, disability, pregnancy, parental status, genetic information, political affiliation, or any other status protected by federal, state and local laws.
In keeping with our commitment, Berkadia takes the necessary steps to provide a workplace free from harassment and discrimination, as well as access and reasonable accommodations for individuals with disabilities. If you require reasonable accommodation to take part in the interview process, please contact
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