AVP, CRE Loan Administration

About the role

SitusAMC is where the best and most passionate people come to transform our client’s businesses and their own careers. Whether you’re a real estate veteran, a passionate technologist, or looking to get your start, join us as we work together to realize opportunities for everyone, we proudly serve.

Responsibilities

• Support Senior Loan Administrators in the day-to-day administration of assigned loans, including communication with Borrowers and Lenders/Investors and Client
• Analyzing and interpreting loan documents and providing advice and direction to the Asset Management Team and Loan Operations teams
• Making sure borrower compliance with governing documents including provisions related to budget, taxes, insurance, collateral and future funding
• Monitoring reserve and escrow accounts
• Reviewing disbursement requests, monitoring draw procedures, managing flow of funds mechanics and internal loan administration
• Making sure construction loans are reviewed, budgets are checked, back-up documentation is obtained, title updates are made, and inspection reports are inspected
• Performing monthly waterfall calculations including the monitoring of income, operating budgets and leasing status
• Coordinating new portfolio and new loan servicing including collection of all necessary loan documents, obtaining contact information for all relevant parties and ensuring accurate boarding in the loan servicing system
• Reconciling and reviewing various reports including billing statements, release statements, payoff statements and remittance reports as required to ensure Hanover’s high standards are achieved in terms of quality, accuracy and completeness
• Updating and monitoring loan specific information in the loan servicing system
• Flexibility in schedule with respect to meeting time sensitive client needs
• Ability to work independently on projects and collaborate ‘face to face’ as a team player
• Handling the collection and remittance of payments
• Verifying and paying taxes and insurance
• Calculating property/unit release prices and monitoring releases

Requirements

• Bachelor’s degree in related field or equivalent combination of education and experience
• Minimum of 6+ years of industry and/or relevant experience, typically with 1+ years in a Senior Associate level role or external equivalent
• Minimum 2+ years of experience in Commercial Real Estate, Loan Servicing/Administration, Corporate Trust or Community Development or related field
• Construction loan experience required
• Knowledge of cash management and waterfalls preferred
• Excellent reading and comprehension skills
• Ability to communicate effectively both written and verbal
• Analytical skills to understand complex commercial loan documents
• Strong organizational and time management skills
• Understanding of 3rd party reports including appraisals, property condition reports, and environmental reports
• Ability to work independently on projects and also collaborate ‘face to face’ as a team player
• Ability to work in fast-paced environment running multiple tasks under tight deadlines
• Strong analytical, problem solving and computer skills with a thorough knowledge of Excel
• Excellent written, verbal and electronic communication skills with attention to detail
• Work in a team environment yet think independently and generate quality work product with little supervision
• Manage multiple priorities and meet multiple deadlines
• Ability to approach work from more of a “transaction” basis versus “task” basis
• Understanding of real estate finance including debt and equity structures

Qualifications

• Bachelor’s degree in related field or equivalent combination of education and experience
• Minimum of 6+ years of industry and/or relevant experience, typically with 1+ years in a Senior Associate level role or external equivalent
• Minimum 2+ years of experience in Commercial Real Estate, Loan Servicing/Administration, Corporate Trust or Community Development or related field
• Construction loan experience required
• Knowledge of cash management and waterfalls preferred
• Excellent reading and comprehension skills
• Ability to communicate effectively both written and verbal
• Analytical skills to understand complex commercial loan documents
• Strong organizational and time management skills
• Understanding of 3rd party reports including appraisals, property condition reports, and environmental reports
• Ability to work independently on projects and also collaborate ‘face to face’ as a team player
• Ability to work in fast-paced environment running multiple tasks under tight deadlines
• Strong analytical, problem solving and computer skills with a thorough knowledge of Excel
• Excellent written, verbal and electronic communication skills with attention to detail
• Work in a team environment yet think independently and generate quality work product with little supervision
• Manage multiple priorities and meet multiple deadlines
• Ability to approach work from more of a “transaction” basis versus “task” basis
• Understanding of real estate finance including debt and equity structures

Benefits

• Paid holidays
• Medical, dental, vision, life, disability insurance
• 401K

Pay

The annual full time base salary range for this role is $115,000.00 - $140,000.00

Schedule

Full-time