What are the responsibilities and job description for the Asset Manager position at National Cooperative Business Association?
Asset Manager, Loan Operations
VA Office or OH Office
Serve as a loan servicing liaison between the Real Estate Team, NCB's operating departments and customers relative to pending and existing real estate accounts, with a special emphasis on Commercial Real Estate loan servicing which includes NCB's portfolio loans, loans sold to Fannie Mae and sold into CMBS pools and their compliance under the related loan sale servicing agreements while exceeding customer needs.
Responsibilities Include:
1. The asset manager will track and review preliminary and full loan packages for real estate loans. Act as a conduit for accuracy of data at loan closing. Maintain accurate and organized credit files on borrowers. Pursuant to review of loan documents, input loan related data for new loans into the McCracken Strategy Loan Servicing System, & Strategy Web Portal. 40%
2. Address internal and external customer inquiries in a timely manner both telephonically and by email. Proactively manage, research, identify and resolve payment problems, and other borrower related issues. Analyze and interpret data regarding billing related inquiries, interest rate changes and other critical loan information. Review property inspections and monitor deferred maintenance discovered during the inspection process until they are cured. Review daily system exception reports to identify and resolve loan system irregularities. 20%
3. Monitor ongoing loan activity to ensure that the borrower remains in compliance with the Lender terms and conditions. Maintain data integrity accuracy rate of 98% regarding new loan setup and a minimum 85% overall receipt rate for Strategy Web Portal loan covenant documentation updates. 15%
4. Proactively manage, research, identify and resolve payment problems, monetary and non-monetary delinquencies and other borrower related issues. The asset manager will follow-up on past due loan payments, loan maturity management and thoroughly document measures taken and correspondence with borrower to resolve outstanding issues. Coordinate with Investor Compliance to ensure Lender servicing standards are being met. Receive, review and release draw requests on lines of credit as needed. 15%
5. Set up capital improvement, replacement reserves and tax and insurance escrow accounts where applicable. Monitor and maintain capital improvement and replacement reserve escrows. Ensure that all post-closing issues including engineering and environmental items are resolved within required timeframes. Monitor and maintain replacement reserve escrows. 10%
Minimum Qualifications Include:
VA Office or OH Office
Serve as a loan servicing liaison between the Real Estate Team, NCB's operating departments and customers relative to pending and existing real estate accounts, with a special emphasis on Commercial Real Estate loan servicing which includes NCB's portfolio loans, loans sold to Fannie Mae and sold into CMBS pools and their compliance under the related loan sale servicing agreements while exceeding customer needs.
Responsibilities Include:
1. The asset manager will track and review preliminary and full loan packages for real estate loans. Act as a conduit for accuracy of data at loan closing. Maintain accurate and organized credit files on borrowers. Pursuant to review of loan documents, input loan related data for new loans into the McCracken Strategy Loan Servicing System, & Strategy Web Portal. 40%
2. Address internal and external customer inquiries in a timely manner both telephonically and by email. Proactively manage, research, identify and resolve payment problems, and other borrower related issues. Analyze and interpret data regarding billing related inquiries, interest rate changes and other critical loan information. Review property inspections and monitor deferred maintenance discovered during the inspection process until they are cured. Review daily system exception reports to identify and resolve loan system irregularities. 20%
3. Monitor ongoing loan activity to ensure that the borrower remains in compliance with the Lender terms and conditions. Maintain data integrity accuracy rate of 98% regarding new loan setup and a minimum 85% overall receipt rate for Strategy Web Portal loan covenant documentation updates. 15%
4. Proactively manage, research, identify and resolve payment problems, monetary and non-monetary delinquencies and other borrower related issues. The asset manager will follow-up on past due loan payments, loan maturity management and thoroughly document measures taken and correspondence with borrower to resolve outstanding issues. Coordinate with Investor Compliance to ensure Lender servicing standards are being met. Receive, review and release draw requests on lines of credit as needed. 15%
5. Set up capital improvement, replacement reserves and tax and insurance escrow accounts where applicable. Monitor and maintain capital improvement and replacement reserve escrows. Ensure that all post-closing issues including engineering and environmental items are resolved within required timeframes. Monitor and maintain replacement reserve escrows. 10%
Minimum Qualifications Include:
- College degree preferred with 3 years' experience in the loan administration function servicing commercial and/or multifamily loans under Agency and CMBS guidelines.
- Excellent organizational and analytical skills.
- Excellent written and verbal communication skills. Must be able to assist difficult customers with ease over the phone and respond timely to all customer requests.
- Must have attention to detail and a demonstrated ability to coordinate with others outside of the Loan Operations department to meet customer needs in a timely fashion.
- Takes ownership of customer requests and resolves every request whether their own or another team member.
- Proven ability to work independently but recognize when input and approvals are required.
- Understands what excellence means when performing job duties.
- Proficient in Microsoft Word, Excel, and the McCracken loan servicing system. Proficient or will acquire proficiency in other systems critical to the role.
