Analyst, Commercial Special Servicing
About The Position
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.
Requirements
- 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.
Responsibilities
- 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.
- Adminster 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.
Benefits
- Onity Group Inc. offers a comprehensive benefits package including medical, dental and vision; up to 3% match on 401(k) contributions; generous paid time off; company-paid life, accident and disability coverage; programs for mental, physical and financial wellness; and more.
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What This Job Offers
Job Type
Full-time
Career Level
Entry Level
Education Level
No Education Listed
