The Commercial Special Servicing Analyst administers a wide range of tasks associated with an assigned portfolio of geographically diverse, non-performing, commercial/business purpose mortgage loans secured by investor owned commercial use, mixed use, SFR/multifamily rental and/or SFR/multifamily transitional properties. The role duties include analysis of collateral property information, loan accounting, loan document review, vendor administration, market research, direct investor communication, reporting, and assisting Special Servicing Asset Managers as needed. The position will frequently engage with Company offshore resources. The position may also support Primary Commercial Servicing representatives with property and/or market analysis, borrower interaction, and investor inquiries, as appropriate.
Job Functions and Responsibilities:
To perform this job successfully, an individual must be able to perform each essential duty satisfactorily:
- Review loan accounting and prepare/verify calculations for legal demands.
- Manage inbound calls and correspondence received from borrowers and internal groups as appropriate.
- Review property valuation reports from appraisers, brokers, market sources, etc.
- Review collateral property inspections.
- Review property operating information received from borrowers and/or property managers.
- Review commercial loan documents for borrower requirements and covenants.
- Review performing loan reports to identify commercial loans at risk of transfer to special servicing.
- Monitor property tax and insurance status for all assigned loan collateral.
- Serve as main point of contact and liaison with external special servicers.
- Administer requests from external special servicers.
- Administer external special servicer and Asset Manager instructions for all posting and disbursement transactions as needed.
- Maintain system data and reports as needed to ensure accuracy and timeliness.
- Regularly interact with Company resources in various departments, including offshore.
- Review servicing agreements for servicer responsibilities, authorities and deadlines.
- Administer invoices and reports from third-party vendors, including attorneys, inspectors, appraisers, property managers, investigators, receivers, brokers, contractors, title agents, insurance adjusters, etc., as needed.
- Support Commercial Primary Servicing representatives in borrower outreach efforts, market analysis and investor inquiries, as needed.
- Comply with all Company requirements for training, compliance, audits and reporting.
- Anticipate/identify issues that could impact Company/client operations and suggest solutions.
- Complete other activities and duties as may be assigned.
Key Result Areas:
- Acknowledge/respond to external special servicer requests with 24 hours.
- Provide daily updates to external special servicer for requests outstanding for more than 24 hours.
- Process posting instructions from external epectial servicers with 24 hours.
- Process invoices within three (3) days of receipt
- Maintain 100% accuracy for all accounting calculations.
- Provide appropriate instructions to other departments within agreed upon servicing level standards.
- Successfully complete Company annual training requirements of not less than 40 hours.
Qualifications:
- Minimum 2 years’ experience with defaulted commercial loans.
- Demonstrated understanding of commercial loan document provisions, including interest accrual, tax and insurance administration, lender advances, etc.
- Demonstrated understanding of commercial loan covenants and covenant compliance.
- Demonstrated understanding of CRE income property operating documents such as rent rolls and income statements.
- Demonstrated effective communication skills, both verbal and written.
- Demonstrated ability to work independently with minimal supervision.
- Demonstrated effective problem solving and decision making skills.
- Demonstrated ability to comply with detailed reporting requirements.
- Demonstrated ability to work under pressure, meet deadlines and adjust to changing priorities.
- Demonstrated skills with Microsoft 365 Suite, Adobe applications
- Demonstrated skills with loan servicing applications (such as MSP, REALSynergy, Strategy, Enterprise, etc.).
- Demonstrated teamwork skills to collaborate with associates in multiple departments.
Training / Licensing Requirements:
Must pass the Company’s Background Screening process prior to beginning employment. Additionally, as a condition of employment, you may be required to pass client-specific background check requirements or Federal/State licensing requirements, if applicable.
The salary range for this position is expected to be $55,000 to $70,000 per year, depending on geographic location, experience, and other qualifications of the successful candidate. This position is also eligible for bonus based on performance and subject to the terms of the Company’s applicable plans.
