Job DescriptionPosition Summary:This position requires a highly motivated and experienced Loan Servicing professional who will be responsible for a complex loan portfolio. The individual will be responsible for delivering exceptional service to our clients (borrowers, investor clients and loan officers). They will manage a portfolio mix of GSE, CMBS, and Life Company loans. Inclusive of our clients, they will interact with Master Servicers, legal counsel, internal and functional area team members. Responsibilities include servicing a portfolio of loans in accordance with policies and procedures, industry standards, loan documents, and servicing agreements. This position is to serve as the point of contact for the clients from the servicing side. They will address and respond to normal and customary questions and inquiries from clients.
Essential Duties and Responsibilities - Point of contact for Newmark servicing clients
- Service a portfolio of loans for multiple investors with various complexities - GSE and CMBS; Credit Enhanced, Credit Facilities, Fixed Rate, ARM, and Mod Rehabs
- Monitor, administer, or refer borrower requests to the appropriate Servicing functional business unit or outside party upon review of the applicable loan documents and service agreements
- Read and interpret loan documents when presented with questions and issues related to their loan portfolio to fulfill client request
- Facilitate payoff requests between borrower and payoff team
- Monitor payment delinquencies for loans in assigned portfolio. Coordinate collection inquiries to determine nature of default
- Research and resolve customer inquiries and promote Borrower Insight when appropriate for borrower self-service
- Interaction and communication with other departments regarding borrower inquiries to ensure accuracy in all transaction requirements including billing, reporting, remitting and system set up
- Re-price interest rate caps escrow account and set monthly constants with an escalated awareness to market conditions; monitor rate fluctuations on ARM billing and for rate cap purposes. Coordinate interest rate cap renewals with Borrower and investor counsel.
- Monitor and review loan specific trigger/tickler events to ensure appropriate action is taken to meet required deadlines
- Monitor loan maturities in conjunction with the payoff team and discuss with borrower their plans for upcoming maturity
- Monitor portfolio specific reports as required to process any open issues as required
- Work with all applicable functional business units to ensure compliance with loan document requirements and borrower requests on all servicing systems
- Review written analysis of lease documents and enforce approval conditions with borrowers
- Initial contact with borrowers for disaster reporting in the event of natural disasters to assess potential damage
Core Competencies: - Strong written and verbal communication skills to clearly convey loan status
- Ability to problem solve and communicate with others at all levels - internally and externally
- Must display a high degree of initiative, task ownership and attention to detail
- Must be willing and able to research and resolve matters as new issues arise
- Ability to work productively and multi-task under minimal supervision
- Interpret and utilize policies and procedures, investor guides and loan documents
- Possess excellent collaboration skills
- Ability to organize and prioritize projects, complete multiple tasks on schedule, and function as a committed team player
- Work productively in a fast-paced, ever-changing work environment
Qualifications: - BA/BS degree in finance, accounting, real estate or other business-related field preferred
- 3-5 years loan servicing portfolio management experience including knowledge of GSE and CMBS products
- Strong working knowledge of loan servicing systems and proficiency with MS Office Word and Excel
- A valid real estate license is required in states where work is performed
Working Conditions: Normal working conditions with the absence of disagreeable elements.
Note: The statements herein are intended to describe the general nature and level of work being performed by employees and are not to be construed as an exhaustive list of responsibilities, duties, and skills required of personnel so classified.
Newmark is an Equal Opportunity/Affirmative Action employer. All qualified applicants will receive consideration for employment without regard to race, color, religion, sex including sexual orientation and gender identity, national origin, disability, protected Veteran Status, or any other characteristic protected by applicable federal, state, or local law.
