Full Job Description
We9re actively seeking a talented Commercial Real Estate Servicing Analyst to join our Mortgage Loan Debt Portfolio Operations team in Newport Beach, CA.
As a Commercial Real Estate Servicing Analyst, you9ll move Pacific Life, and your career, forward by overseeing escrow reserve and tax administration functions for the Commercial Mortgage Portfolio of Real Estate Investments.
How you9ll help move us forward:
Cash Management:
• Review agreements including but not limited to the Loan Agreements, Cash Management Agreements, Deposit Account Agreements and Ancillary Loan Documents.
• Review daily activity of cash managed interest-bearing accounts.
• Reconcile bank accounts monthly.
• Prepare wire disbursements as required.
• Prepare Waterfall for CMA loans.
• Prepare monthly operating expense true ups.
• Provide guidance to borrower personnel on reconciliations, cash trap, operating budgets, and analysis.
• Provide guidance and advice as solicited by the Credit Analysis Team.
Mortgage Escrow/Reserve Administration:
• Review and interpret escrow/reserve related provisions of individual loan documents.
• Set-up insurance, capital, replacement, seasonality, debt service and other reserve/impound accounts in mortgage loan system
• Analyze and approve documents and supporting data provided by borrowers for release of funds from escrow/reserve accounts. Coordinate property inspections where necessary. Vendor oversight as applicable.
• Analyze accounts periodically according to procedures and loan documents and adjust constants as necessary.
• Audit reserves annually or as required in loan documents.
• Update and maintain Tickler information for assigned portfolio.
• Provide draw procedures and draft certifications, as required.
• Coordinate payment of third-party invoices.
• Review and monitor upcoming loan maturity dates, financial performance and loan status codes.
Mortgage Loan Property Tax Administration:
• Set-up taxing authorities, due dates and tax events in mortgage loan system.
• Coordinate set-up of new loans with tax service provider.
• Monitoring of payment due dates.
• Process payments to service provider to ensure property taxes are paid prior to the due date.
• Audit escrow accounts to ensure monthly impound amounts are appropriate and that the accounts are not overfunded/underfunded.
• External communication with service providers, taxing authorities, borrowers and borrower representatives.
The experience you bring:
• 3-5 years experience in commercial mortgage loan servicing operations
• 4-year college degree, with emphasis in Accounting/Finance/Business/Real Estate, or equivalent work experience.
• Extensive user experience with one (or more) of three leading mortgage loan servicing/accounting systems used within the industry.
• Excellent customer service skills.
• Detail-oriented, analytical, and strong critical thinking and organizational skills.
• Strong verbal and written communication skills.
What makes you stand out:
• Experience with escrow administration and property tax administration
Base Pay Range:
The base pay range noted represents the company9s good faith minimum and maximum range for this role at the time of posting. The actual compensation offered to a candidate will be dependent upon several factors, including but not limited to experience, qualifications and geographic location. Also, most employees are eligible for additional incentive pay.
$93,600.00 - $114,400.00
Your Benefits Start Day 1
Your wellbeing is important to Pacific Life, and we9re committed to providing you with flexible benefits that you can tailor to meet your needs. Whether you are focusing on your physical, financial, emotional, or social wellbeing, we9ve got you covered.
• Prioritization of your health and well-being including Medical, Dental, Vision, and Wellbeing Reimbursement Account that can be used on yourself or your eligible dependents
• Generous paid time off options including: Paid Time Off, Holiday Schedules, and Financial Planning Time Off
• Paid Parental Leave as well as an Adoption Assistance Program
• Competitive 401k savings plan with company match and an additional contribution regardless of participation
You Can Be Who You Are
We are committed to a culture of diversity and inclusion that embraces the authenticity of all employees, partners and communities. We support all employees to thrive and achieve their fullest potential.
What9s life like at Pacific Life? Visit Instagram.com/lifeatpacificlife