ABOUT THE JOB
Under the direction of the Manager - Portfolio Services - Agency, the person in this position is responsible for servicing a commercial real estate portfolio in the most timely, efficient and responsible manner in order to protect the interest of investors and minimize risk to KeyBank. This is accomplished within the parameters of the servicing agreements, loan documents, policies and procedures, and applicable laws.
ESSENTIAL JOB FUNCTIONS
- Understanding the regulations, guidelines and policies that govern the Agencies.
- Review loan documents, policies and procedures and Agency Guide.
- Use industry guidelines, processes and policies to collect and analyze quarterly and annual operating statements, balance sheets, cash flow statements, tax returns and occupancy reports.
- Travel as required: Meet with borrowers, guarantors, property managers, etc. to conduct physical inspection/assessments on all loans within the assigned portfolio, and report findings accordingly.
- Monitor assigned portfolio in order to ensure compliance with specific requirements pursuant to contractual servicing agreements.
- Institute and administer directives involving changes in servicing standards (i.e. establishing and implementing new technologies for reporting property inspections and financial analysis).
- Perform intensive loan servicing for those loans designated by investor or servicer as not meeting their standards for performance. Intensive servicing typically involves in depth physical inspections/assessments, comparable financial analysis, market analysis, cash flowauditing, sponsor analysis, and administering rehabilitation/repair agreements.
- Comprehensive loan reviews are completed by specific scheduled dates and presented to Credit Committee.
- Develop Action Plans for any loans that are not meeting established standards for overall property performance and report these plans on specific, scheduled dates to the investor
- Work with Borrowers, assumptors, legal counsel, internal production, underwriting and closing personnel, investors and other outside parties to negotiate, document and close proposed transactions.
- Generate income through transaction fees and the timely collection of late charges and default interest in order to ensure the profitability of the Servicing Division and KeyCorp.
- Monitor and administer the posting of all loan payments in accordance with the loan documents.
- Monitor delinquencies.
- Monitor loan maturities through correspondence with Borrowers and assigned PPS.
- Review and process reserve disbursements in accordance with the reserve agreements.
- Monitor and oversee the payment of all taxes and insurance as required by the loan documents.
- Calculate yield maintenance and process payoffs in accordance with the loan documents and servicing agreements and administer the document release process.
- Input and maintain loan and collateral data in the loan servicing system and RECWeb.
MARGINAL OR PERIPHERAL FUNCTIONS
- Administer all borrower inquiries and requests while upholding Key’s servicing standard
- Assist with special projects
- Train new employees
- Four year college degree or experience commensurate with position grade
- Ability to travel overnight at least once a month for Agency property inspections is required.
- Will also be required to complete Multi-Family property inspection training.
- 3+ years experience in asset management/servicing of complex commercial real estate loans
- Loan document review and interpretation experience
- Excellent verbal and written communication skills, as well as a high degree of analytical ability
- Experienceworking with lenders, borrowers, property managers, and legal counsel
- Efficient in the use of word processing, spreadsheet, and email software, such as Microsoft Word, Excel, and Outlook
- Experiencewith cash management accounts, escrow/reserve account disbursements, insurance/tax issues, property releases, and loan payoffs
- Experiencewith McCracken/Strategy and RECWeb loan servicing systems
Personal Computer Telephone Fax Machine Photocopier/Scanner Calculator GPS Digital Camera